PTM to launch $2m private placement
TSX- and NYSE-listed Platinum Group Metals (PTM) has announced it will soon launch a private placement, selling about 1.6-million shares for $2-million, or $1.24 apiece.
The company expects its biggest shareholder Hosken Consolidated Investments to participate in the placement.
PTM will use the proceeds for its share of costs on the Waterberg project, in South Africa’s Limpopo province, and for working capital purposes.
PTM is the operator of the underground palladium, platinum, gold and rhodium project, for which a definitive feasibility study was published in September.
Currently, PTM owns 50% of the Waterberg joint venture, while Impala Platinum owns 15%, Hanwa owns 9.7%, Japan Oil, Gas & Metals National Corporation owns 12% and the balance is held by Mnombo Wethu consultants.
Implats may elect to exercise a purchase and development option to increase its stake to 50.01%.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation