Funding falls through for Platinum Group mine, shares -15%

|About: Platinum Group Metals Ltd (PLG)|By:, SA News Editor

Platinum Group Metals (PLG -15.8%) sinks on news that Wesizwe Platinum subsidiary Africa Wide decided not to fund a 213M rand (~$21.8M) cash call for its 26% share of the budget for the WBJV Project 1 Platinum Mine in South Africa.

In light of the potential changes in funding arrangements, PLG warns of substantial delays or a stop in construction and production plans for the project.