- Write by:
-
Saturday, December 14, 2019 - 10:29:21 AM
-
775 Visit
-
Print
Mining News Pro - One day after its initial $2 million private placement announcement, Platinum Group Metals has decided to double the size of the offering to 3.22 million common shares at a price of $1.24 per share for gross proceeds of $4 million.
According to Mining News Pro - The company’s biggest shareholder, Hosken Consolidated Investments, is expected to participate in the placement.
Shares of PTM rose by 5% during Friday’s trading session. The Vancouver-based miner has a market capitalization of C$110.2 million.
The company intends to use the financing proceeds for the Waterberg joint venture project, an underground palladium, platinum, gold and rhodium operation situated in South Africa’s Limpopo province.
Based on a recent feasibility study, measured and indicated resources at Waterberg are estimated at 242.4 million tonnes at 0.98 gram platinum, 2.13 grams palladium, 0.05 gram rhodium and 0.22 gram gold.
PTM currently owns 50% of the joint venture and serves as the operator. Impala Platinum, which owns 15% of the joint venture, has a purchase and development option to increase its stake to 50.01%.
Short Link:
https://www.miningnews.ir/En/News/457720
Sibanye-Stillwater’s Queensland operations are back up and running following a period of severe weather in the first ...
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
Manganese developer Element 25 (E25) will accelerate activities for the planned expansion of its Butcherbird manganese ...
A dual-fuelled ammonia-powered vessel from Fortescue has won the Hydrogen Transport award at the World Hydrogen 2024 ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
The Philippines said on Friday it aimed to add three more processing plants in the effort to develop a downstream ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
No comments have been posted yet ...