HCI increases PTM shareholding to 19.89%

11th February 2019 By: Simone Liedtke - Writer

Hosken Consolidated Investments (HCI) has acquired, through a private placement undertaken by its subsidiary Deepkloof, over two-million common shares in TSX-listed Platinum Group Metals (PTM) at $1.33 a share, for a total consideration of $2.8-million.

This acquisition brings HCI’s total holdings in the PTM common shares to over 6.5-million, or 19.89%.

According to PTM CEO Michael Jones, HCI’s investment has been important in advancing the Waterberg palladium project, in South Africa.

He added that PTM was “working closely” with its joint venture partners Impala Platinum, the Japan Oil, Gas and Metals National Corporation, Hanwa and Mnombo on the completion of the Waterberg definitive feasibility study later this year.