Platinum Group Metals Ltd.

lockPrivate Group

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company. Waterberg has potential to be a low cost dominantly palladium mine and Impala Platinum recently made a strategic in...

people8 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200 200  png
Request Membership


Platinum Group Metals Ltd.

lockPrivateGroup

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in n......

people8 Members       (0)

Thumb 8020 monitor 200 200  png

8020 Admin

2 hours

8020 Admin posted a press release Platinum Group Metals Ltd. Announces Appointment of Former Vale Executive Stuart Harshaw to Company's Board of Directors in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, April 15, 2019 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) announced today that Mr. Stuart Harshaw, P.Eng., MBA, has been appointed to the Company’s board of directors, bringing the number of directors to seven.  Mr. Harshaw was the Vice President, Ontario Operations, for Vale Canada Limited (“Vale”) until 2017 where he was an innovative leader with international experience creating value within mining and natural resource operations around the globe.


Mr. Harshaw established a record of success at Vale in operations, marketing and strategic planning.  Mr. Harshaw was responsible to implement strategic initiatives by attracting and developing highly engaged teams who could deliver results.  He held mining board positions for Vale in Indonesia, Korea and Barbados.  Mr. Harshaw was responsible for creating and managing annual budgets of approximately $1.5 billion as well as managing relations with external stakeholders including provincial and municipal government officials, First Nations and media outlets.  Mr. Harshaw recently led the Sudbury operations of Vale through the largest transformation of surface facilities in their history.  In 2017, Mr. Harshaw retired after a highly successful career with Vale and predecessor firm Inco, where he worked his way up through the organization beginning in 1990.


Platinum Group CEO R. Michael Jones commented, “We are very pleased to welcome Stuart Harshaw to the Board of the Company.  Mr. Harshaw’s extensive experience will be a tremendous asset to the Company as we work through the completion of a definitive feasibility study for the world class Waterberg Project. He will be able to make valuable contributions in all aspects of the study including safety, mine design, metallurgical recoveries and metal refining and marketing terms.”


About Platinum Group Metals Ltd.


Platinum Group is the operator of the Waterberg Project, a bulk underground deposit in northern South Africa.  Waterberg was discovered by the Company and has the potential to be a low-cost producer of palladium, platinum, rhodium and gold.


On behalf of the Board of
Platinum Group Metals Ltd.


R. Michael Jones
CEO and Director


For further information, contact:
    R. Michael Jones, President
    or Kris Begic, VP, Corporate Development
    Platinum Group Metals Ltd., Vancouver
    Tel: (604) 899-5450 / Toll Free: (866) 899-5450
    www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release may contain forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors.  The Company directs readers to the risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

!
Thumb 8020 media relations

Media Relations posted an update in PLATINUM GROUP METALS LTD.

20 days

MI3 Technical Note - PLATINUM GROUP METALS (PTM – TSX) $2.89 (PLG – NYSE) $2.17 ‘’ Advancing the next great palladium mine ‘’

Thumb mi3 tn

http://mi3.ca/wp-content/uploads/2019/03/Technical-Note-March-26-2019.pdf?eflyer_rand=442623388

!
Thumb 8020 monitor 200 200  png

8020 Admin

1 month

8020 Admin posted a press release Hanwa Co. Ltd. Completes Acquisition of 9.755% Interest in Waterberg Palladium Project from JOGMEC Including Metal Marketing Rights in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, March 07, 2019 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) reports that the previously announced transaction between the Japan, Oil, Gas and Metals National Corporation (“JOGMEC”) and Hanwa Co. Ltd. (“Hanwa”) has been completed.


In February 2018, JOGMEC held a public tender to transfer 9.755% of JOGMEC’s 21.95% interest in the Waterberg Project.  Hanwa successfully won the bid, whereupon Hanwa and JOGMEC started the process required to complete and finalize the transfer. On October 24, 2018 Hanwa and JOGMEC officially entered into a transfer agreement. Upon the recent grant of approval from the government of the Republic of South Africa, the entire transfer procedure has been completed. JOGMEC will continue to be an active joint venture partner and will also continue the promotion of Japanese interests globally through mineral exploration and providing vital information on mineral resources.


Under the terms of the transaction Hanwa has also acquired the marketing right to solely purchase all the metals produced from the Waterberg Project at market prices. The transaction secures a key future source of platinum group metals (“PGM”)  and nickel used for automobile catalytic converters, fuel cells and secondary batteries for industries in Japan.


The current measured and indicated mineral resource of the Waterberg deposit stands at 26.34 million ounces 4E (242Mt with an average grade of 3.38 g/t 4E -platinum, palladium, rhodium and gold)*. The deposit is amenable to fully mechanized mining with production costs estimated to be the lowest of PGM mines in South Africa. The deposit is also advantageous because of the highest palladium content (63.04%) amongst South African PGM mines. The mineral reserves and resources will be updated as part of the definitive feasibility study in process.  Palladium prices have outperformed recently due to strong demand from autocatalyst manufacturers and a limited supply response capability from traditional producers in Russia and South Africa. Industry analysts expect deficits to continue.


Following the Hanwa transfer Platinum Group continues to hold a 50.02% effective interest in Waterberg JV Co., JOGMEC now holds a 12.195% interest, Impala Platinum Holdings Ltd. (“Implats”) holds a 15% interest, Hanwa holds a 9.755% interest and empowerment partner Mnombo Wethu Consultants (Pty) Ltd. holds the effective balance of the joint venture.  JSE listed, broad based empowerment group, Hosken Consolidated Investments Limited (“HCI”) has recently acquired a 19.90% ownership interest in Platinum Group Metals Ltd.  


Implats made a strategic investment of US $30.0 million in November 2017 to purchase their 15% stake in the Waterberg Project. Implats acquired an option to increase its stake to 50.01% by additional share purchases from JOGMEC for an amount of US $34.8 million and a commitment to expenditures of US $130 million for development work on the Waterberg Project and to arrange project financing.  Implats also acquired a right of first refusal to smelt and refine Waterberg Project concentrate. The Implats option is exercisable within 90 days of completion of the Waterberg definitive feasibility study which is currently in the final stages of completion.


*Measured and Indicated Mineral Resource totaling 26.34 million 4E ounces is comprised of 63.04% palladium, 29.16% platinum, 6.37% gold and 1.43% rhodium (242.5 Million Tonnes at 3.38 g/t 4E) at a 2.5 g/t 4E cut-off grade on a 100% project basis.


About Hanwa


Hanwa is a Japanese trading company which supplies a broad spectrum of products, including steel, non-ferrous metals, metals and alloys, food, petroleum, chemicals, machinery, lumber and many other items, to an equally diverse range of customers. The company has solid positions in all of these businesses. As a trading company that performs many important roles, Hanwa will continue to enter more business fields in response to changes in the operating environment in order to meet the needs of customers.


About Implats


Impala Platinum Holdings Limited is one of the world’s foremost fully integrated producers of platinum and associated PGEs. The group produces approximately a quarter of the world's supply of primary platinum. Implats’ operations are located on the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe, the two most significant PGE-bearing ore bodies in the world. In Southern Africa Implats is structured around five main operations namely Impala, Zimplats, Marula, Mimosa and Two Rivers with headquarters based in Johannesburg, South Africa.


About JOGMEC


Japan Oil, Gas and Metals National Corporation (JOGMEC), an incorporated administrative agency established by the Japanese government, plays a key role in ensuring a constant and stable supply of oil, natural gas, coal, geothermal energy and mineral resources to support industries and citizens in Japan through a wide range of activities relating these resources.


About Platinum Group Metals Ltd.


Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground palladium deposit in northern South Africa.  Waterberg was discovered by the Company.  Waterberg has potential to be a low cost dominantly palladium mine and Implats, a smelter and refiner of platinum group metals, recently made a strategic investment in the Waterberg Project.


On behalf of the Board of
Platinum Group Metals Ltd.


“R. Michael Jones”
President and CEO


For further information contact:
    R. Michael Jones, President
    or Kris Begic, VP, Corporate Development
    Platinum Group Metals Ltd., Vancouver
    Tel: (604) 899-5450 / Toll Free: (866) 899-5450
    www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”), including statements regarding the projections in the Waterberg pre-feasibility study; the completion and contents of the Waterberg definitive feasibility study; the potential exercise of Implats’ option; and the potential development and cost structure of, and production from, the Waterberg Project. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Statements of mineral resources and mineral reserves also constitute forward-looking statements to the extent they represent estimates of mineralization that will be encountered on a property and/or estimates regarding future costs, revenues and other matters.  Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, and the risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission (“SEC”) and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.


Estimates of mineralization and other technical information included herein have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The definitions of proven and probable reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7.  Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC Industry Guide 7. In addition, the terms “mineral resource” and “measured mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and historically have not been permitted to be used in reports and registration statements filed with the SEC pursuant to SEC Industry Guide 7. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. Accordingly, descriptions of the Company’s mineral deposits in this press release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of SEC Industry Guide 7.

!
Thumb 8020 monitor 200 200  png

8020 Admin

4 months

8020 Admin posted a press release Platinum Group Metals Completes Previously Announced Share Consolidation in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM-TSX; PLG-NYSE American) (“Platinum Group” or the “Company”) today completed the previously announced consolidation of its common shares on the basis of one new share for ten old shares (1:10) effective as of 9:00 a.m. (New York time) on December 13, 2018 (the “Effective Time”). The Company’s consolidated common shares are expected to begin trading on the Toronto Stock Exchange (“TSX”) and NYSE American when the markets open on December 17, 2018. The Company completed the consolidation in order to increase the Company’s common share price, for purposes of the NYSE American’s low selling price requirement.


Details


Each ten (10) common shares issued and outstanding at the Effective Time has been consolidated into one common share. The share consolidation affects all of the Company’s common shares outstanding at the Effective Time. As a result of the share consolidation, the number of issued and outstanding common shares has been reduced from 291,259,110 to 29,125,911 (subject to fractional treatment).  Each shareholder’s percentage ownership in the Company and proportional voting power remains unchanged, except for minor changes and adjustments resulting from the treatment of fractional shares.


No fractional shares will be issued as a result of the share consolidation.  Fractional interests of 0.5 or greater will be rounded up to the nearest whole number of shares and fractional interests of less than 0.5 will be rounded down to the nearest whole number of shares, in accordance with the Business Corporations Act (British Columbia).  


Registered shareholders of the Company will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc.  The letter of transmittal will contain instructions on how registered shareholders can exchange their old share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares.  Until surrendered, each share certificate representing pre-consolidation common shares will represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.


Shareholders who hold their common shares in brokerage accounts or in “street name” are not required to take any action to effect the exchange of their common shares.


The number of common shares on a post-consolidated basis underlying the issued and outstanding warrants of the Company, including the warrants listed and posted for trading on the TSX under the symbol “PTM.WT.U”, and the exercise price thereof have been adjusted in accordance with the applicable warrant indenture or warrant certificate.  As well, the number of common shares on a post-consolidated basis that may be issuable upon the conversion of convertible senior subordinated notes (the “Notes”) originally issued by the Company on June 30, 2017 and maturing on July 1, 2022 has been adjusted in accordance with the indenture governing the Notes.


The new CUSIP number for the post-consolidation common shares is 72765Q882 and the new ISIN number is CA72765Q8829.


About Platinum Group Metals Ltd.


Platinum Group, based in Johannesburg, South Africa and Vancouver, Canada, is focused on the advancement of the large scale, near surface, palladium dominant Waterberg Project in South Africa. Partners at Waterberg include Impala Platinum Holdings Ltd., the Japan, Oil, Gas and Metals National Corporation and Mnombo Wethu Consultants (Pty) Ltd., a South African empowerment company.


On behalf of the Board of 
Platinum Group Metals Ltd. 
R. Michael Jones
President & CEO


For further information contact:
R. Michael Jones, President & CEO
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net


Disclosure 


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include statements about the timing of the expected commencement of trading of the consolidated common shares on the TSX and NYSE American. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the implementation of the share consolidation may adversely affect the market price of the common shares; the commencement of trading of the consolidated common shares on either or both of the TSX and the NYSE American may be delayed; the liquidity and market price of the common shares and the Company’s ability to raise capital may be adversely affected if the Company is unable to maintain its listing on the NYSE American; the Company’s capital requirements may exceed its current expectations and other risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

!
Thumb 8020 monitor 200 200  png

8020 Admin

6 months

8020 Admin posted a press release Mining Right Application for Waterberg PGM Project Accepted in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) is pleased to announce that the recently filed Mining Right Application (Press Release September 4, 2018) for the large-scale Waterberg PGM Project has been accepted by South Africa’s Department of Mineral Resources (“DMR”).  The application consists of a Mining Work Program, Social and Labour Plan and associated Environmental Applications.  The application is supported by the Company and all of the Waterberg JV partners including Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”) and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”).  The process of consultation under the Mineral and Petroleum Resources Development Act, 2002 ("MPRDA") and the Environmental Assessment regulations, for consideration of the application has commenced.


Waterberg represents a large-scale resource of platinum group metals (“PGM”), including palladium, platinum and gold, with an attractive risk profile.  Given its shallow nature and ability to support a fully mechanized operation, the Waterberg Project has the potential to be amongst the lowest cost producers in the PGM sector.  A pre-feasibility study (“PFS”) was completed in 2016 and a definitive feasibility study (“DFS”) is in progress for completion in calendar Q1 2019.  The DFS is considering two options including the 600,000 tonne per month mine plan outlined in the PFS and a phased approach commencing with a smaller, 250,000 to 350,000 tonne per month production profile.  Stantec Consulting International LLC and DRA Projects SA (Proprietary) Limited are the lead independent project engineers for the DFS.


Platinum Group currently holds an effective 50.02% interest in the Waterberg Project.  Implats, the world’s second largest platinum producer, owns a 15% interest.  Mnombo, a black empowerment company, holds a 26% interest.  The Company owns a 49.9% interest in Mnombo.  JOGMEC holds a 21.95% interest in the Waterberg Project and is in the process of transferring a 9.755% interest to Japanese conglomerate Hanwa Co., Ltd.  Hosken Consolidated Investments Limited, a South African black empowerment investment holding company listed on the JSE with a US$1.1 billion market capitalization, owns a 15% stake in Platinum Group.  Implats is an active participant in the joint venture and holds an option to increase their stake to 50.01% following the completion of the DFS.  


Implats has identified Waterberg as a potential low-cost alternative to deep conventional PGM mining, with an attractive metal balance for the future.  Palladium has been gaining market interest based on continued strong demand from the auto sector, where there is a growing trend towards gasoline engines and hybrids that use palladium dominant catalysts. 


About Platinum Group Metals Ltd.


Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company.  Waterberg has potential to be a low cost dominantly palladium mine and Implats recently made a strategic investment in the Waterberg Project.


On behalf of the Board of
Platinum Group Metals Ltd.


R. Michael Jones
President, CEO and Director


For further information contact:
          R. Michael Jones, President
          or Kris Begic, VP, Corporate Development
          Platinum Group Metals Ltd., Vancouver
          Tel: (604) 899-5450 / Toll Free: (866) 899-5450
          www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”).  Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events.  All statements that are not statements of historical fact are forward-looking statements.  Forward-looking statements in this press release include, without limitation, JOGMEC’s potential transfer of a portion of its interest in the Waterberg Project to Hanwa; the potential for Implats to exercise its rights and fund additional development work on the Waterberg Project; the timing and completion of a DFS; the granting of a mining right for the Waterberg Project by the DMR; the Waterberg Project’s potential to be a large scale, bulk mineable, fully mechanized, low-cost dominantly palladium mine.  Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.  The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements as a result of various factors, including additional financing requirements; the Company’s history of losses; the Company’s inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; the LMM Facility is, and any new indebtedness may be, secured and the Company has pledged its shares of PTM RSA, and PTM RSA has pledged its shares of Waterberg JV Resources (Pty) Limited (“Waterberg JV Co.”) to Liberty Metals & Mining Holdings, LLC, a subsidiary of LMM, under the LMM Facility, which potentially could result in the loss of the Company’s interest in PTM RSA and the Waterberg Project in the event of a default under the LMM Facility or any new secured indebtedness; the Company’s negative cash flow; the Company’s ability to continue as a going concern; completion of the definitive feasibility study for the Waterberg Project, which is subject to resource upgrade and economic analysis requirements; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated Mineral Reserves and Mineral Resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo Wethu Consultants (Pty) Ltd; the ability of the Company to retain its key management employees and skilled and experienced personnel; contractor performance and delivery of services, changes in contractors or their scope of work or any disputes with contractors; conflicts of interest; capital requirements may exceed its current expectations; the uncertainty of cost, operational and economic projections; the ability of the Company to negotiate and complete future funding transactions and either settle or restructure its debt as required; litigation or other administrative proceedings brought against the Company; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation;  and other risk factors described in the Company’s most recent Form 20-F annual report, annual information form and other filings with the U.S. Securities and Exchange Commission (“SEC”) and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.  Proposed changes in the mineral law in South Africa if implemented as proposed would have a material adverse effect on the Company’s business and potential interest in projects.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise.


Estimates of mineralization and other technical information included or referred to herein have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  The definitions of proven and probable Mineral Reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7.  Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report Mineral Reserves, the three-year historical average price is used in any Mineral Reserve or cash flow analysis to designate Mineral Reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.  As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “Mineral Reserves” under SEC standards.  In addition, the terms “Mineral Resource” and “measured Mineral Resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.  Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.  Accordingly, descriptions of the Company’s mineral deposits in this press release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

!

Platinum Group Metals Ltd.

lockPrivate Group

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company. Waterberg has potential to be a low cost dominantly palladium mine and Impala Platinum recently made a strategic in...

people8 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200 200  png
Request Membership


Platinum Group Metals Ltd.

lockPrivateGroup

Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in n......

people8 Members       (0)

Thumb 8020 monitor 200 200  png

8020 Admin

2 hours

8020 Admin posted a press release Platinum Group Metals Ltd. Announces Appointment of Former Vale Executive Stuart Harshaw to Company's Board of Directors in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, April 15, 2019 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) announced today that Mr. Stuart Harshaw, P.Eng., MBA, has been appointed to the Company’s board of directors, bringing the number of directors to seven.  Mr. Harshaw was the Vice President, Ontario Operations, for Vale Canada Limited (“Vale”) until 2017 where he was an innovative leader with international experience creating value within mining and natural resource operations around the globe.


Mr. Harshaw established a record of success at Vale in operations, marketing and strategic planning.  Mr. Harshaw was responsible to implement strategic initiatives by attracting and developing highly engaged teams who could deliver results.  He held mining board positions for Vale in Indonesia, Korea and Barbados.  Mr. Harshaw was responsible for creating and managing annual budgets of approximately $1.5 billion as well as managing relations with external stakeholders including provincial and municipal government officials, First Nations and media outlets.  Mr. Harshaw recently led the Sudbury operations of Vale through the largest transformation of surface facilities in their history.  In 2017, Mr. Harshaw retired after a highly successful career with Vale and predecessor firm Inco, where he worked his way up through the organization beginning in 1990.


Platinum Group CEO R. Michael Jones commented, “We are very pleased to welcome Stuart Harshaw to the Board of the Company.  Mr. Harshaw’s extensive experience will be a tremendous asset to the Company as we work through the completion of a definitive feasibility study for the world class Waterberg Project. He will be able to make valuable contributions in all aspects of the study including safety, mine design, metallurgical recoveries and metal refining and marketing terms.”


About Platinum Group Metals Ltd.


Platinum Group is the operator of the Waterberg Project, a bulk underground deposit in northern South Africa.  Waterberg was discovered by the Company and has the potential to be a low-cost producer of palladium, platinum, rhodium and gold.


On behalf of the Board of
Platinum Group Metals Ltd.


R. Michael Jones
CEO and Director


For further information, contact:
    R. Michael Jones, President
    or Kris Begic, VP, Corporate Development
    Platinum Group Metals Ltd., Vancouver
    Tel: (604) 899-5450 / Toll Free: (866) 899-5450
    www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release may contain forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors.  The Company directs readers to the risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

!
Thumb 8020 media relations

Media Relations posted an update in PLATINUM GROUP METALS LTD.

20 days

MI3 Technical Note - PLATINUM GROUP METALS (PTM – TSX) $2.89 (PLG – NYSE) $2.17 ‘’ Advancing the next great palladium mine ‘’

Thumb mi3 tn

http://mi3.ca/wp-content/uploads/2019/03/Technical-Note-March-26-2019.pdf?eflyer_rand=442623388

!
Thumb 8020 monitor 200 200  png

8020 Admin

1 month

8020 Admin posted a press release Hanwa Co. Ltd. Completes Acquisition of 9.755% Interest in Waterberg Palladium Project from JOGMEC Including Metal Marketing Rights in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, March 07, 2019 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) reports that the previously announced transaction between the Japan, Oil, Gas and Metals National Corporation (“JOGMEC”) and Hanwa Co. Ltd. (“Hanwa”) has been completed.


In February 2018, JOGMEC held a public tender to transfer 9.755% of JOGMEC’s 21.95% interest in the Waterberg Project.  Hanwa successfully won the bid, whereupon Hanwa and JOGMEC started the process required to complete and finalize the transfer. On October 24, 2018 Hanwa and JOGMEC officially entered into a transfer agreement. Upon the recent grant of approval from the government of the Republic of South Africa, the entire transfer procedure has been completed. JOGMEC will continue to be an active joint venture partner and will also continue the promotion of Japanese interests globally through mineral exploration and providing vital information on mineral resources.


Under the terms of the transaction Hanwa has also acquired the marketing right to solely purchase all the metals produced from the Waterberg Project at market prices. The transaction secures a key future source of platinum group metals (“PGM”)  and nickel used for automobile catalytic converters, fuel cells and secondary batteries for industries in Japan.


The current measured and indicated mineral resource of the Waterberg deposit stands at 26.34 million ounces 4E (242Mt with an average grade of 3.38 g/t 4E -platinum, palladium, rhodium and gold)*. The deposit is amenable to fully mechanized mining with production costs estimated to be the lowest of PGM mines in South Africa. The deposit is also advantageous because of the highest palladium content (63.04%) amongst South African PGM mines. The mineral reserves and resources will be updated as part of the definitive feasibility study in process.  Palladium prices have outperformed recently due to strong demand from autocatalyst manufacturers and a limited supply response capability from traditional producers in Russia and South Africa. Industry analysts expect deficits to continue.


Following the Hanwa transfer Platinum Group continues to hold a 50.02% effective interest in Waterberg JV Co., JOGMEC now holds a 12.195% interest, Impala Platinum Holdings Ltd. (“Implats”) holds a 15% interest, Hanwa holds a 9.755% interest and empowerment partner Mnombo Wethu Consultants (Pty) Ltd. holds the effective balance of the joint venture.  JSE listed, broad based empowerment group, Hosken Consolidated Investments Limited (“HCI”) has recently acquired a 19.90% ownership interest in Platinum Group Metals Ltd.  


Implats made a strategic investment of US $30.0 million in November 2017 to purchase their 15% stake in the Waterberg Project. Implats acquired an option to increase its stake to 50.01% by additional share purchases from JOGMEC for an amount of US $34.8 million and a commitment to expenditures of US $130 million for development work on the Waterberg Project and to arrange project financing.  Implats also acquired a right of first refusal to smelt and refine Waterberg Project concentrate. The Implats option is exercisable within 90 days of completion of the Waterberg definitive feasibility study which is currently in the final stages of completion.


*Measured and Indicated Mineral Resource totaling 26.34 million 4E ounces is comprised of 63.04% palladium, 29.16% platinum, 6.37% gold and 1.43% rhodium (242.5 Million Tonnes at 3.38 g/t 4E) at a 2.5 g/t 4E cut-off grade on a 100% project basis.


About Hanwa


Hanwa is a Japanese trading company which supplies a broad spectrum of products, including steel, non-ferrous metals, metals and alloys, food, petroleum, chemicals, machinery, lumber and many other items, to an equally diverse range of customers. The company has solid positions in all of these businesses. As a trading company that performs many important roles, Hanwa will continue to enter more business fields in response to changes in the operating environment in order to meet the needs of customers.


About Implats


Impala Platinum Holdings Limited is one of the world’s foremost fully integrated producers of platinum and associated PGEs. The group produces approximately a quarter of the world's supply of primary platinum. Implats’ operations are located on the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe, the two most significant PGE-bearing ore bodies in the world. In Southern Africa Implats is structured around five main operations namely Impala, Zimplats, Marula, Mimosa and Two Rivers with headquarters based in Johannesburg, South Africa.


About JOGMEC


Japan Oil, Gas and Metals National Corporation (JOGMEC), an incorporated administrative agency established by the Japanese government, plays a key role in ensuring a constant and stable supply of oil, natural gas, coal, geothermal energy and mineral resources to support industries and citizens in Japan through a wide range of activities relating these resources.


About Platinum Group Metals Ltd.


Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground palladium deposit in northern South Africa.  Waterberg was discovered by the Company.  Waterberg has potential to be a low cost dominantly palladium mine and Implats, a smelter and refiner of platinum group metals, recently made a strategic investment in the Waterberg Project.


On behalf of the Board of
Platinum Group Metals Ltd.


“R. Michael Jones”
President and CEO


For further information contact:
    R. Michael Jones, President
    or Kris Begic, VP, Corporate Development
    Platinum Group Metals Ltd., Vancouver
    Tel: (604) 899-5450 / Toll Free: (866) 899-5450
    www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”), including statements regarding the projections in the Waterberg pre-feasibility study; the completion and contents of the Waterberg definitive feasibility study; the potential exercise of Implats’ option; and the potential development and cost structure of, and production from, the Waterberg Project. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Statements of mineral resources and mineral reserves also constitute forward-looking statements to the extent they represent estimates of mineralization that will be encountered on a property and/or estimates regarding future costs, revenues and other matters.  Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, and the risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission (“SEC”) and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.


Estimates of mineralization and other technical information included herein have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The definitions of proven and probable reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7.  Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC Industry Guide 7. In addition, the terms “mineral resource” and “measured mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and historically have not been permitted to be used in reports and registration statements filed with the SEC pursuant to SEC Industry Guide 7. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. Accordingly, descriptions of the Company’s mineral deposits in this press release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of SEC Industry Guide 7.

!
Thumb 8020 monitor 200 200  png

8020 Admin

4 months

8020 Admin posted a press release Platinum Group Metals Completes Previously Announced Share Consolidation in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM-TSX; PLG-NYSE American) (“Platinum Group” or the “Company”) today completed the previously announced consolidation of its common shares on the basis of one new share for ten old shares (1:10) effective as of 9:00 a.m. (New York time) on December 13, 2018 (the “Effective Time”). The Company’s consolidated common shares are expected to begin trading on the Toronto Stock Exchange (“TSX”) and NYSE American when the markets open on December 17, 2018. The Company completed the consolidation in order to increase the Company’s common share price, for purposes of the NYSE American’s low selling price requirement.


Details


Each ten (10) common shares issued and outstanding at the Effective Time has been consolidated into one common share. The share consolidation affects all of the Company’s common shares outstanding at the Effective Time. As a result of the share consolidation, the number of issued and outstanding common shares has been reduced from 291,259,110 to 29,125,911 (subject to fractional treatment).  Each shareholder’s percentage ownership in the Company and proportional voting power remains unchanged, except for minor changes and adjustments resulting from the treatment of fractional shares.


No fractional shares will be issued as a result of the share consolidation.  Fractional interests of 0.5 or greater will be rounded up to the nearest whole number of shares and fractional interests of less than 0.5 will be rounded down to the nearest whole number of shares, in accordance with the Business Corporations Act (British Columbia).  


Registered shareholders of the Company will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc.  The letter of transmittal will contain instructions on how registered shareholders can exchange their old share certificates representing pre-consolidation common shares for new share certificates representing post-consolidation common shares.  Until surrendered, each share certificate representing pre-consolidation common shares will represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.


Shareholders who hold their common shares in brokerage accounts or in “street name” are not required to take any action to effect the exchange of their common shares.


The number of common shares on a post-consolidated basis underlying the issued and outstanding warrants of the Company, including the warrants listed and posted for trading on the TSX under the symbol “PTM.WT.U”, and the exercise price thereof have been adjusted in accordance with the applicable warrant indenture or warrant certificate.  As well, the number of common shares on a post-consolidated basis that may be issuable upon the conversion of convertible senior subordinated notes (the “Notes”) originally issued by the Company on June 30, 2017 and maturing on July 1, 2022 has been adjusted in accordance with the indenture governing the Notes.


The new CUSIP number for the post-consolidation common shares is 72765Q882 and the new ISIN number is CA72765Q8829.


About Platinum Group Metals Ltd.


Platinum Group, based in Johannesburg, South Africa and Vancouver, Canada, is focused on the advancement of the large scale, near surface, palladium dominant Waterberg Project in South Africa. Partners at Waterberg include Impala Platinum Holdings Ltd., the Japan, Oil, Gas and Metals National Corporation and Mnombo Wethu Consultants (Pty) Ltd., a South African empowerment company.


On behalf of the Board of 
Platinum Group Metals Ltd. 
R. Michael Jones
President & CEO


For further information contact:
R. Michael Jones, President & CEO
or Kris Begic, VP, Corporate Development
Platinum Group Metals Ltd., Vancouver
Tel: (604) 899-5450 / Toll Free: (866) 899-5450
www.platinumgroupmetals.net


Disclosure 


The Toronto Stock Exchange and the NYSE American have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include statements about the timing of the expected commencement of trading of the consolidated common shares on the TSX and NYSE American. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the implementation of the share consolidation may adversely affect the market price of the common shares; the commencement of trading of the consolidated common shares on either or both of the TSX and the NYSE American may be delayed; the liquidity and market price of the common shares and the Company’s ability to raise capital may be adversely affected if the Company is unable to maintain its listing on the NYSE American; the Company’s capital requirements may exceed its current expectations and other risk factors described in the Company’s Form 20-F annual report, annual information form and other filings with the Securities and Exchange Commission and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

!
Thumb 8020 monitor 200 200  png

8020 Admin

6 months

8020 Admin posted a press release Mining Right Application for Waterberg PGM Project Accepted in Platinum Group Metals Ltd.

VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Platinum Group Metals Ltd. (PTM:TSX; PLG:NYSE American) (“Platinum Group” “PTM” or the “Company”) is pleased to announce that the recently filed Mining Right Application (Press Release September 4, 2018) for the large-scale Waterberg PGM Project has been accepted by South Africa’s Department of Mineral Resources (“DMR”).  The application consists of a Mining Work Program, Social and Labour Plan and associated Environmental Applications.  The application is supported by the Company and all of the Waterberg JV partners including Impala Platinum Holdings Ltd. (“Implats”), Japan Oil, Gas and Metals National Corporation (“JOGMEC”) and Mnombo Wethu Consultants (Pty) Ltd. (“Mnombo”).  The process of consultation under the Mineral and Petroleum Resources Development Act, 2002 ("MPRDA") and the Environmental Assessment regulations, for consideration of the application has commenced.


Waterberg represents a large-scale resource of platinum group metals (“PGM”), including palladium, platinum and gold, with an attractive risk profile.  Given its shallow nature and ability to support a fully mechanized operation, the Waterberg Project has the potential to be amongst the lowest cost producers in the PGM sector.  A pre-feasibility study (“PFS”) was completed in 2016 and a definitive feasibility study (“DFS”) is in progress for completion in calendar Q1 2019.  The DFS is considering two options including the 600,000 tonne per month mine plan outlined in the PFS and a phased approach commencing with a smaller, 250,000 to 350,000 tonne per month production profile.  Stantec Consulting International LLC and DRA Projects SA (Proprietary) Limited are the lead independent project engineers for the DFS.


Platinum Group currently holds an effective 50.02% interest in the Waterberg Project.  Implats, the world’s second largest platinum producer, owns a 15% interest.  Mnombo, a black empowerment company, holds a 26% interest.  The Company owns a 49.9% interest in Mnombo.  JOGMEC holds a 21.95% interest in the Waterberg Project and is in the process of transferring a 9.755% interest to Japanese conglomerate Hanwa Co., Ltd.  Hosken Consolidated Investments Limited, a South African black empowerment investment holding company listed on the JSE with a US$1.1 billion market capitalization, owns a 15% stake in Platinum Group.  Implats is an active participant in the joint venture and holds an option to increase their stake to 50.01% following the completion of the DFS.  


Implats has identified Waterberg as a potential low-cost alternative to deep conventional PGM mining, with an attractive metal balance for the future.  Palladium has been gaining market interest based on continued strong demand from the auto sector, where there is a growing trend towards gasoline engines and hybrids that use palladium dominant catalysts. 


About Platinum Group Metals Ltd.


Platinum Group is focused on, and is the operator of, the Waterberg Project, a bulk mineable underground deposit in northern South Africa. Waterberg was discovered by the Company.  Waterberg has potential to be a low cost dominantly palladium mine and Implats recently made a strategic investment in the Waterberg Project.


On behalf of the Board of
Platinum Group Metals Ltd.


R. Michael Jones
President, CEO and Director


For further information contact:
          R. Michael Jones, President
          or Kris Begic, VP, Corporate Development
          Platinum Group Metals Ltd., Vancouver
          Tel: (604) 899-5450 / Toll Free: (866) 899-5450
          www.platinumgroupmetals.net


Disclosure


The Toronto Stock Exchange and the NYSE American LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.


This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (collectively “forward-looking statements”).  Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events.  All statements that are not statements of historical fact are forward-looking statements.  Forward-looking statements in this press release include, without limitation, JOGMEC’s potential transfer of a portion of its interest in the Waterberg Project to Hanwa; the potential for Implats to exercise its rights and fund additional development work on the Waterberg Project; the timing and completion of a DFS; the granting of a mining right for the Waterberg Project by the DMR; the Waterberg Project’s potential to be a large scale, bulk mineable, fully mechanized, low-cost dominantly palladium mine.  Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct.  The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements as a result of various factors, including additional financing requirements; the Company’s history of losses; the Company’s inability to generate sufficient cash flow or raise sufficient additional capital to make payment on its indebtedness, and to comply with the terms of such indebtedness; the LMM Facility is, and any new indebtedness may be, secured and the Company has pledged its shares of PTM RSA, and PTM RSA has pledged its shares of Waterberg JV Resources (Pty) Limited (“Waterberg JV Co.”) to Liberty Metals & Mining Holdings, LLC, a subsidiary of LMM, under the LMM Facility, which potentially could result in the loss of the Company’s interest in PTM RSA and the Waterberg Project in the event of a default under the LMM Facility or any new secured indebtedness; the Company’s negative cash flow; the Company’s ability to continue as a going concern; completion of the definitive feasibility study for the Waterberg Project, which is subject to resource upgrade and economic analysis requirements; uncertainty of estimated production, development plans and cost estimates for the Waterberg Project; discrepancies between actual and estimated Mineral Reserves and Mineral Resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; fluctuations in the relative values of the U.S. Dollar, the Rand and the Canadian Dollar; volatility in metals prices; the failure of the Company or the other shareholders to fund their pro rata share of funding obligations for the Waterberg Project; any disputes or disagreements with the other shareholders of Waterberg JV Co. or Mnombo Wethu Consultants (Pty) Ltd; the ability of the Company to retain its key management employees and skilled and experienced personnel; contractor performance and delivery of services, changes in contractors or their scope of work or any disputes with contractors; conflicts of interest; capital requirements may exceed its current expectations; the uncertainty of cost, operational and economic projections; the ability of the Company to negotiate and complete future funding transactions and either settle or restructure its debt as required; litigation or other administrative proceedings brought against the Company; actual or alleged breaches of governance processes or instances of fraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada and South Africa; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in South Africa, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation;  and other risk factors described in the Company’s most recent Form 20-F annual report, annual information form and other filings with the U.S. Securities and Exchange Commission (“SEC”) and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.  Proposed changes in the mineral law in South Africa if implemented as proposed would have a material adverse effect on the Company’s business and potential interest in projects.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise.


Estimates of mineralization and other technical information included or referred to herein have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  The definitions of proven and probable Mineral Reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7.  Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report Mineral Reserves, the three-year historical average price is used in any Mineral Reserve or cash flow analysis to designate Mineral Reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.  As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “Mineral Reserves” under SEC standards.  In addition, the terms “Mineral Resource” and “measured Mineral Resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.  Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.  Accordingly, descriptions of the Company’s mineral deposits in this press release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

!