https://www.miningweekly.com

PTM closes $113.8m public offering

PTM closes $113.8m public offering

Photo by Duane Daws

31st December 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – South Africa-focused project developer Platinum Group Metals (PTM) on Wednesday announced that it had successfully closed a $113.84-million public offering.

The Vancouver-based firm had issued 214.8-million shares at a price of $0.53 each, including 7.2-million shares issued under an over-allotment option.

BMO Capital Markets and GMP Securities acted as the underwriters and agreed to buy the shares on a bought deal basis.

PTM said it would use the net proceeds of the offering to fund Phase 2 development at the Western Bushveld Joint Venture (WBJV) Project 1 platinum mine, near Rustenburg, in the North West.

The company said the funds should be enough to fully fund the completion of mill and concentrator construction at the WBJV Project 1 platinum mine.

PTM last month reported the project as being 64% complete, with first production planned for the fourth quarter of 2015.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.663s - 110pq - 2rq
Subscribe Now