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PTM seeks to raise $20m in working capital

28th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

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JOHANNESBURG (miningweekly.com) – Dual-listed Platinum Group Metals (PTM) has entered into purchase agreements with institutional investors to issue and sell $20-million aggregate principal amount of convertible senior subordinated notes due 2022.

PTM will use the proceeds for working capital at its flagship Maseve mine, near Rustenburg; for work on the definitive feasibility study on its Waterberg platinum and palladium deposit, which is now under way; for general and administrative expenses and for general working capital purposes.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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