Platinum Group Metals (TSX:PTM)(NYSE:PLG) (“Platinum Group” or the “Company”) provides a corporate update regarding the previously announced restructuring of the Maseve Mine, development work at Waterberg and the ongoing strategic alternatives process.
Maseve Platinum Mine
The Company has successfully changed the operating plan at Maseve and lowered its cost structure to align with a reduced production ramp up profile. Production guidance will be provided as operations commence under the new operating plan in the months ahead.
Contractor terminations and consultations with labour unions have been completed in a positive climate of mutual respect and in accordance with the South African Labour Act. All major contracts and union agreements have been settled and agreed promptly, in-line with the Company’s budgeted plan. This has allowed for detailed manpower planning for the new mine plan going forward.