SA News • Thu, Oct. 9
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Platinum Group Metals: An Undervalued Near-Term Producer With Huge Resources
- First production of platinum, palladium, rhodium and gold should start next year.
- The company holds resources of 11 million ounces of platinum and 13 million ounces of palladium.
- The value of metals (measured, indicated, inferred) attributable to one share is more than $60, the current share price is only $1.02.
- WBJV Project 1 alone is worth approximately $1.8 per share, Waterberg should add another $2.85 when in full production.
Platinum Group Metals, Ltd.: Encouraging Recent Progress On The Waterberg JV Project
- PLG is scheduled for production in 2015, with a yearly production of 275 KozEq. The 2 main precious metals are platinum and palladium, with some rhodium and gold.
- The Waterberg is about to get the financing necessary to start production at the mine in 2015/2016. The company expects to close the $195 million project finance facility this summer.
- The growth potential of the future mine largely compensates the negative issues attached to South Africa. PLG will be a potential acquisition target that I rate as a buy.
Platinum Group Metals: Junior Explorer Gaining Steam
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Thu, Oct. 9, 11:48 AM
- Platinum Group Metals (PLG +0.6%) says its low-cost South African projects will benefit as competitors shut down old unprofitable mines in lowering global output by as much as 35%.
- South African platinum producers, the source of more than 70% of the metal, are under pressure to close or sell their least efficient operations amid the lowest platinum prices in five years, dwindling ore grades and higher labor costs, CEO Michael Jones says.
- Platinum prices have declined ~8% this year as signs of weaker economic growth in Europe has raised concerns about slowing demand; at current prices, ~45% of South Africa's platinum mines are believed to be operating at a loss.
- PLG shares have shed 33% so far this year; platinum peers including Amplats (OTCPK:AGPPY), Impala Platinum (OTCQX:IMPUY) and Lonmin (OTC:LNMIF) also are sharply lower YTD.
- ETFs: PPLT, PTM, PGM
Dec. 9, 2013, 3:56 PM
- Platinum Group Metals (PLG -0.8%) is halted as a syndicate of underwriters agrees to buy on a bought deal basis 148.5M common shares at a price of C$1.18/share for gross proceeds of ~C$175M.
- PLG says proceeds from the offering will be used to partially fund Phase 2 development at the WBJV Project 1 platinum mine; to fund its portion of ongoing exploration, engineering and extension work on the Waterberg joint venture project; and for general working capital purposes.
Oct. 18, 2013, 3:57 PM
- 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.
Oct. 4, 2013, 12:48 PM
Jul. 15, 2013, 6:32 AM
Jun. 10, 2013, 8:53 PM
May. 13, 2013, 12:50 PM
Jan. 23, 2013, 12:18 PMPlatinum Group Metals (PLG +6.3%) is upgraded to Outperform with a $1.75 price target at RBC after PLG received an expanded drilling permit to test the up-dip extension of the Waterberg deposit. If the deposit continues to surface, it could result in a significant resource expansion and potentially be amenable to open pit mining and/or low-cost bulk underground mining. | Comment!
Dec. 11, 2012, 10:33 AM
Sep. 18, 2012, 12:17 PMPlatinum futures take a breather after a report that Lonmin workers in South Africa have accepted the company's pay offer and will return to work. Prices in the past 30 trading days have climbed from under $1,500/oz. to above $1,700 before a sudden drop today took prices below $1,620 from over $1,670. | 3 Comments
Sep. 27, 2011, 3:10 PMThough a number of miners are outperforming today, platinum and palladium miners are doing especially well. Stillwater Mining (SWC +15.2%) leads the pack following the cancellation of a debt offering, but North American Palladium (PAL +10.2%) and Platinum Group Metals (PLG +12.8%) are also up strongly. | 1 Comment
Nov. 2, 2010, 9:20 AM
Oct. 1, 2010, 9:00 AM
PLG vs. ETF Alternatives
Platinum Group Metals Ltd is an exploration and development stage company. The Company is platinum-focused exploration and development company. It is focused on mineral properties in the Republic of South Africa and Canada.
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