Platinum Group Metals (PTM) has completed a $1.01 million non-brokered private placement with its existing major shareholder, Hosken Consolidated Investments (HCI).
Through its subsidiary Deepkloof, HCI acquired 800,000 common shares, restoring its stake in PTM to 26%.
The proceeds will support PTM’s share of pre-construction site work, engineering, and preparation costs for the Waterberg Project in South Africa—a major underground platinum, palladium, rhodium, and gold deposit.
PTM, as the operator and majority owner, is advancing the project in partnership with Impala Platinum, Mnombo Wethu, and HJ Platinum Metals Company (a consortium backed by Japanese investors).
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
