TORONTO (miningweekly.com) – Vancouver-based Platinum Group Metals (PTM) is still assessing its “strategic alternatives”, to decide how best to get value out of its platinum-group metals (PGM) projects in South Africa, the firm said on Thursday.

Not much has changed since the last update three months ago: the options still include building the company's Project 1 platinum mine using conventional debt and equity, hedging some of the project in a partnership or transaction involving a minority of the metal flow, or the sale of the company.

As before, “the company hopes to finalise and announce its path forward shortly”.

At the end of May, PTM had a cash position of $4,78-million.

The company has restructured a joint-venture agreement with Anglo Platinum and Wesiszwe Platinum, which had included three PGM projects.

PTM now holds 54,75% in Projects 1 and 3 of what was formerly the Western Bushveld Joint Venture, with a right to subscribe for a further 19.25%.

JSE-listed Wesizwe holds the other 26%, plus 100% of Project 2.

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