Seeking Alpha

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

  • 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.
Comments (2)
  • dnljansa
    , contributor
    Comments (4) | Send Message
     
    I believe PLG has enough money to drive ahead on their own.. and if not the story is good enough to go out and raise more money in a short period of time. Any comments ??? dj
    20 Oct 2013, 11:12 AM Reply Like
  • Joppie2
    , contributor
    Comment (1) | Send Message
     
    Market remains sceptical even if juniors like WEZ is funded.
    22 Oct 2013, 07:24 AM Reply Like
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