History

Large Scale Platinum Positions
in the Heart of the World’s Platinum Mines

Platinum Group Metals Ltd. is based in Vancouver, BC, Canada and Johannesburg, South Africa. Platinum Group has a solid management team with successful track records of more than 20 years in exploration, mine discovery, mine construction and mine operations.

The Company was formed in 2000 and is focused on the development of platinum operations. It holds significant mineral rights in the Bushveld Igneous Complex of South Africa, host to 80% of the World’s platinum production. View a demonstration of how the Bushveld was formed.

The Company is moving its first, high-grade, near-surface Western Bushveld Joint Venture (WBJV) Project 1 platinum deposit to production. An updated feasibility study announced October 8, 2009 confirms Project 1 is robust.

A reorganization deal providing for Platinum Group Metals to hold a 74% right to Projects 1 and 3 through a 74% interest in project holding company Maseve Investments is now complete, with the government approval to transfer title having been provided. (See April 22, 2010 Press Release).   

Platinum Group also holds approximately a 100 square kilometre position in the Sable Joint Venture adjoining a recent Xstrata takeover land position. The Company has two active joint ventures at Warsprings and Waterburg with the government of Japan on the North Limb.

Project 1 total capital costs are estimated at approximately US $443 million at an exchange rate of 8 rand to the U.S. dollar in the October 2009 Updated Feasibility Study. 

It is envisaged that mine construction and funding will involve both equity and debt.  In a news release dated October 1, 2010 Platinum Group announce a bought deal financing for $125 million as a first tranche towards project development.  See the Company’s preliminary Short Form Prospectus filed on SEDAR October 7, 2010.