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.