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Platinum Group Metals Ltd T.PTM

Alternate Symbol(s):  PLG

Platinum Group Metals Ltd. is a Canada-based platinum and palladium focused exploration and development company. The Company is the operator of the Waterberg Project, a bulk underground palladium and platinum deposit located in South Africa. The Waterberg Project is located on the Northern Limb of the Bushveld Igneous Complex, approximately 85 kilometers (km) north of the town of Mokopane. The Waterberg Project covers an area of approximately 29,161 hectares (ha) consisting of the Waterberg Mining Right, one active prospecting right, and one application for the incorporation of two adjacent farms into the Waterberg Mining Right. Of the total project area, 20,482 ha are covered by the Waterberg Mining Right. Waterberg is a joint venture between the Company, Impala Platinum Holdings Ltd., HJ Platinum, which consists of JOGMEC (Japan Oil, Gas and Metals National Corporation) and Hanwa Co. and Black Economic Empowerment (BEE) partner Mnombo Wethu Consultants (Pty) Ltd.


TSX:PTM - Post by User

Bullboard Posts
Comment by Bigseeon Aug 09, 2016 5:54pm
81 Views
Post# 25124242

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:More dilution coming

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:More dilution comingOK, I think I see where you might be remembering somthing incorrectly.  WRT the Mnombo / Waterburg, the agreement in buying out their 50% stake, was the PTM would pay Mnombo's portion of expenses through feasability, not production.  Big difference.  Hope that puts your mind at ease some.

From SEC - 2013 annual infomation form:
"On November 7, 2011, the Company entered into an agreement with Mnombo whereby the Company acquired 49.9% of the issued and outstanding shares of Mnombo from its shareholders in exchange for cash payments totaling R1.2 million and agreeing to pay for Mnombo’s 26% share of project costs to feasibility (bringing the Company’s share of project costs to 63%). When combined with the Company’s 37% direct interest in the Waterberg JV Project (taking into consideration the JOGMEC earn-in), the 12.974% indirect interest held by the Company through Mnombo brings the Company’s effective interest in the Waterberg JV Project to 49.974% ."
Bullboard Posts