VANCOUVER — Roughly three years ago junior Platinum Group Metals (TSX: PTM, NYSE-MKT: PLG) made its Waterberg discovery on the North Limb of South Africa’s prolific Bushveld Complex, and the company has had the project on the fast track ever since.
On Friday Platinum Group announced a preliminary economic assessment (PEA) at Waterberg, which it is aiming to get into production by 2018. The company now holds a 49% stake under a joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC) and its empowerment partner Mnombo Wethu Consultants.
The announcement follows an eventful 12 months for Platinum Group, which continues to advance two additional platinum projects in the region, namely its 74%-owned Western Bushveld joint venture and its 87%-owned Waterberg Extension discovery. The company suffered a brief funding shortfall in mid-October, but was able to boost its coffers with a $175-million equity raise at the end of 2013.
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