Platinum Group Metals Ltd. (AMEX:PLG, TSX:PTM) is headquartered in Vancouver, Canada, with 279 full-time employees. It is a company that focuses on the exploration, development and mining of platinum group metals (platinum) in the Republic of South Africa and Canada Mining Company.
Platinum Group Metals (PLG):
Let’s first understand what are the platinum group metals:
Platinum Group Metals Ltd.’s main exploration and mining metals include platinum, palladium, rhodium, gold, ruthenium, iridium, nickel, copper, chromium and vanadium. The company’s key development projects and exploration targets are located in South Africa’s Bushveld Complex, a subsidiary of Platinum Group Metals Assets include:
Maseve Mine (formerly Western Bushveld Joint Venture, Project 1) -Since the acquisition in 2004, it has been the company’s flagship asset. It was officially constructed in 2011 and officially put into production in 2016. Platinum Group owns 83% of the mine (Maseve Mine) . The estimated reserves on July 15, 2015 are:
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- The Waterberg Project -Platinum Group Metals Co., Ltd. and its joint venture partners were newly discovered in Bushveld Complex in November 2011. The preliminary exploration was funded by JOGMEC (Japan Oil, Gas and Metals National Corporation). The project is directly held by Platinum Group 45.65. % directly, JOGMEC holds 28.35%, BEE partner Mnombo Wethu Consultants holds 26%, and Platinum Group owns 49.9% of Mnombo the Company, so Platinum Group directly and indirectly holds 58.62% of the project, which is also the direct operation of the project Quotient. The project is estimated to indicate mineral resources of 2389.4 ounces of platinum, palladium, rhodium and gold resources; estimated inferred mineral resources of 11.71 million ounces of platinum, palladium, rhodium and gold. The Preliminary Economic Assessment (PEA) has been completed and announced in February 2014. The pre-feasibility study is in progress and is scheduled to be completed by the end of July 2016.