https://www.miningweekly.com
Africa|Aggregate|Energy|Platinum|PROJECT|SECURITY|Underground
Africa|Aggregate|Energy|Platinum|PROJECT|SECURITY|Underground
africa|aggregate|energy|platinum|project|security|underground

PTM closes private placing for $2.5m

19th September 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

TSX- and NYSE-listed Platinum Group Metals (PTM) has reported the successful close of a nonbrokered private placement of common shares to raise $2.5-million.

An aggregate 2.1-million common shares were subscribed for and issued to existing major beneficial shareholder, Hosken Consolidated Investments (HCI) through its subsidiary Deepkloof.

HCI now holds nearly 27% of PTM.

PTM intends to use the net proceeds of the private placement for its share of predevelopment costs on the Waterberg project in South Africa, and for general corporate and working capital purposes.

PTM is the operator and majority owner of the Waterberg project, a bulk underground palladium and platinum deposit in South Africa.

The Waterberg project was discovered by PTM and is being jointly developed with Impala Platinum, Mnombo Wethu Consultants, Japan Organisation for Metals and Energy Security and Hanwa. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Traka
Traka

Traka is the global leader in intelligent management solutions for keys and equipment. Our solutions help all types of organisations better control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (22/09/2023)
22nd September 2023 By: Martin Creamer

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:0.064 0.097s - 107pq - 2rq
Subscribe Now