Platinum Group Metals Ltd. has successfully completed a $1.008 million non-brokered private placement with its major shareholder Hosken Consolidated Investments Limited (HCI), signaling continued financial support for the company's critical mining development efforts.
The transaction, finalized on May 29, 2025, involved the issuance of 800,000 common shares at $1.26 per share. This strategic investment restores HCI's ownership stake to 26% in the company, demonstrating ongoing confidence in the Waterberg Project's potential.
The raised capital will be strategically allocated to support pre-construction and engineering work at the Waterberg Project, a significant bulk underground palladium and platinum deposit located in South Africa. This funding is crucial for advancing the project's development and maintaining momentum in exploration and infrastructure preparation.
The private placement represents more than a financial transaction; it underscores the collaborative relationship between Platinum Group Metals and its key stakeholders. By leveraging HCI's investment, the company can continue to progress its joint development efforts with partners Implats, Mnombo, and HJM.
The transaction's structure, qualifying for exemptions under MI 61-101 and negotiated on an expedited basis, highlights the streamlined and strategic approach to financing that can benefit mining exploration and development companies.
For the mining sector, this investment signals continued interest in platinum group metals, which remain critical to various industrial applications, including automotive catalytic converters, electronics, and emerging green technologies. The Waterberg Project's advancement could contribute to South Africa's ongoing significance in global platinum production.
The successful private placement demonstrates Platinum Group Metals' ability to secure targeted funding and maintain strong relationships with key investors, positioning the company for continued progress in its mining development strategy.
