Platinum Group Metals (PLG +3.88%] reported another intercept of a high-quality vein at the...


Platinum Group Metals (PLG +3.88%] reported another intercept of a high-quality vein at the Waterberg deposit, bringing its success rate for hitting targeted layers to 98%. The company says it is on target for an updated report of the deposit's overall resources in August.

Comments (3)
  • Hal44
    , contributor
    Comments (646) | Send Message
     
    1. Any reports of PLG issuing more shares to reinforce monies available for actual mining?
    2. What are the realistic chances for nationalization or prohibitive additional taxation/regulations by either the South African Govt or labor unions.
    3. Is the large Japanese co. funding still in place with opportunity for additional monies if needed, and result for further dilution?
    4. Is production still on track for late 2014?
    10 Jun 2013, 09:34 PM Reply Like
  • DF1985
    , contributor
    Comments (64) | Send Message
     
    Hey Hal:

     

    Here are the answers to your questions:

     

    1) PLG has already financed all future mine operations. They have over 350M in cash on hand.

     

    2) While the risk of nationalization always exists, it's extremely unlikely. Banks continue to invest billions into South Africa because they view the risk as minimal.

     

    3) No further funding is needed.

     

    4) Production is scheduled to commence in the second quarter of 2015.
    9 Jul 2013, 05:34 PM Reply Like
  • Hal44
    , contributor
    Comments (646) | Send Message
     
    Appreciate your response, Please keep us posted on the political situation in South Africa and any possible nationalization attempts or squeeze on profits (including union efforts or takeover attempts) for PLG. Glad they seem to have sufficient financing until 2nd qtr 2015 and you indicate that it appears that no dilution will be necessary. If that changes let us know. Thanks
    10 Jul 2013, 09:02 AM Reply Like
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