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.