Platinum Group Metals Ltd. (TSX:PTM) announced the Japan Oil, Gas and Metals National Corporation (JOGMEC) has committed to fund the next US $20 million of joint venture funding at Waterberg.

As quoted in the press release,

In conjunction with JOGMEC’s firm funding commitment, Platinum Group Metals, JOGMEC and empowerment partner Mnombo Wethu Consultants (“Mnombo”) have agreed to consolidate the Waterberg Joint Venture and the Waterberg Extension projects into one unitized project area (the “New Waterberg JV”). As a result of the consolidation announced today, and with the funding provided by JOGMEC, approximately 15 drill rigs and crews will immediately be returned to active status at the Waterberg site.

Click here for the full Platinum Group Metals Ltd. (TSX:PTM) press release