Platinum Group Metals Reports First Quarter Results

Platinum Group Metals (TSX:PTM,NYSEAmerican:PLG) has released its financial results for the three month period ending on November 30, 2019.

As quoted from the press release:

The company is focused on advancing the palladium dominant Waterberg Project located on the North Limb of the Bushveld Complex in South Africa (the “Waterberg Project”). An independent Definitive Feasibility Study for the Waterberg Project (the “Waterberg DFS”) was published on September 24, 2019 and was unanimously approved by the shareholders of Waterberg JV Resources (Pty) Limited (“Waterberg JV Co.”) on December 5, 2019. The Waterberg DFS concludes that the Waterberg Project will be one of the largest and potentially lowest cash cost underground PGM mines globally.

The Waterberg DFS projects a fully mechanised, shallow, decline access palladium, platinum, gold and rhodium (“4E”) mine at an annual production rate of 420,000 4E ounces and a 45 year mine life. The Waterberg DFS was managed by Waterberg JV Co. representing the joint venture owners, being Platinum Group, Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”), Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd.

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