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PTM raises $28.7m for Maseve project

31st January 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

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JOHANNESBURG (miningweekly.com) – Platinum Group Metals (PTM) on Tuesday closed its public offering of common shares, raising more than the $25-million it had initially planned to raise.

It issued 19.6-million shares at $1.46 apiece, raising $28.75-million.

The company will use the capital to advance underground development and production ramp-up of its 91 000 oz Maseve platinum mine, near Rustenburg. The funds will also be used for working capital during start-up and general corporate purposes.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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