The advancement of the palladium-dominant Waterberg Project to a development and construction decision is the primary business objective of Platinum Group Metals (PTM), for which construction funding and concentrate offtake arrangements are being pursued. The Toronto- and New York-listed company, headed by CEO Michael Jones, stated this on Thursday, November 26, when it presented its financial result for the year ended August 31 and also announced the closure of the private placement of share that allows South Africa’s Hosken Consolidated Investments through its Deepkloof subsidiary to maintain a greater than 31% interest in the company. Net private placement proceeds will be allocated to Waterberg Project predevelopment costs, partial debt repayment and general corporate and working capital purposes.
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