https://www.engineeringnews.co.za
Africa|Aggregate|Construction|Energy|Engineering|Gold|Platinum|PROJECT|SECURITY|Underground
Africa|Aggregate|Construction|Energy|Engineering|Gold|Platinum|PROJECT|SECURITY|Underground
africa|aggregate|construction|energy|engineering|gold|platinum|project|security|underground

PTM completes $1m nonbrokered private placement

30th May 2025

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

TSX- and NYSE-listed Platinum Group Metals (PTM) on May 29 closed a previously announced nonbrokered private placement.

An aggregate of 800 000 common shares were subscribed for and issued to existing major beneficial shareholder Hosken Consolidated Investments (HCI) through its subsidiary Deepkloof, resulting in gross proceeds to the company of nearly $1.01-million.

Closing of the private placement allows HCI to return to a 26% interest in the company.

PTM intends to use the net proceeds of the private placement for its share of pre-construction site work, engineering and preparation costs on the Waterberg project in South Africa and for general corporate and working capital purposes.

PTM is the operator and majority owner of the Waterberg project, a bulk underground platinum, palladium, rhodium and gold deposit in South Africa.

The project was discovered by PTM and is being jointly developed with Impala Platinum, Mnombo Wethu and HJ Platinum Metals Company, a company established in 2023 by the Japan Organisation for Metals and Energy Security and Hanwa as a special purpose company to hold and fund their aggregate equity interests in the project. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

North Ridge Pumps
North Ridge Pumps

North Ridge Pumps is an independent manufacturer of pumps. We have a proven track record for product support and customer service throughout the...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 08 May 2026
Magazine round up | 08 May 2026
8th May 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.054 0.09s - 142pq - 2rq
Subscribe Now