Platinum Group Metals (TSX: PTM) (NYSE American: PLG), operator of the Waterberg Project, a bulk underground platinum group metals (“PGM”) deposit located on the northern limb of the Bushveld Complex in South Africa, is reporting positive results from an Independent Definitive Feasibility Study Update (“2024 DFS”) for the Waterberg Mine. The study was completed by a team of specialists, including international engineering entity Stantec Consulting International Ltd. and South African engineering firm DRA Projects SA (Pty) Ltd. The 2024 DFS is an update to the Waterberg Project’s original Independent Definitive Feasibility Study published in September 2019 (“2019 DFS”).
According to the report, highlights of the study show an increased mineral reserve estimate, an extended life of mine (“LOM”), robust economics, a strong cash-flow generation and reasonable capital. In addition, the company noted that the study indicated the project was one of the lowest-cost PGM mines in Southern Africa. The 2024 DFS updated mineral resource estimate is larger and of higher confidence, facilitating important mine design improvements compared to the 2019 DFS.
“The 2024 DFS validates the world-class nature of the Waterberg Project,” said Platinum Group Metals president and CEO Frank R. Hallam in the press release. “Engineering teams from Stantec, DRA and Fraser McGill have collaborated to achieve an optimized and derisked mine plan while also minimizing capital requirements. The primary objectives of the 2024 DFS were to update and minimize capital and operating costs, and to simplify the construction, ramp up and operating profile of the Waterberg Mine. I believe these objectives have been achieved. We look forward to advancing the Waterberg Project for the benefit of our partners and local communities, as well as all the people of South Africa.”
To view the full press release, visit https://ibn.fm/xNWcI
About Platinum Group Metals Ltd.
Platinum Group Metals is the operator of the Waterberg Project, a shallow, bulk underground PGM and base metal deposit located on the northern limb of the Bushveld Igneous Complex in South Africa, approximately 85 kilometers north of the town of Mokopane. The Waterberg Project was discovered by Platinum Group and is being jointly developed with Implats, Mnombo and HJM. For more information about the company, visit www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG
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