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Platinum Group Metals Reports Third Quarter 2017 Results
Jul. 19, 2017 08:43AM PST
Precious Metals InvestingPlatinum Group Metals (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) reports the Company’s operating and financial results for the three and nine months ended May 31, 2017 and provides an operational update and outlook. Operations at Maseve Mine The Maseve Mine delivered 6,925 ounces of platinum, palladium, rhodium and gold (“4E”) in concentrate during the …
Platinum Group Metals (TSX:PTM)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) reports the Company’s operating and financial results for the three and nine months ended May 31, 2017 and provides an operational update and outlook.
Operations at Maseve Mine
The Maseve Mine delivered 6,925 ounces of platinum, palladium, rhodium and gold (“4E”) in concentrate during the three month period ended May 31, 2017. However, during the period Company engineers determined that in some areas of the Maseve Mine (specifically Block 11) the bord and pillar mechanized mining method was not achieving required efficiencies.
Although produced tonnes have been increasing, grade control was not being achieved. Based on extensive sampling, face grades were determined to have generally met estimates, but the fully mechanized bord and pillar mining method had resulted in excess dilution, and therefore lower than planned grades delivered to the plant.