Western Bushveld JV: Quick Facts

Platinum mine Projects 1 and 3 of the reorganized WBJV between Platinum Group and Wesizwe Platinum are located in the heart of the world's platinum producing region and adjoin the Bafokeng Rasimone Platinum Mine were more than 300,000 4E ounces (platinum, palladium, rhodium and gold) are produced annually.

Platinum Group now holds a right to acquire up to 74% of project holding company Maseve Investments (See news release dated April 22, 2010).  Maseve holds 100% of the mineral rights to Projects 1 and 3 of the former WBJV.  Wesizwe Platinum now holds a 26% interest in Maseve and a 100% interest in former Project 2 of the WBJV.  Anglo Platinum and Platinum Group each sold their 18.5% interests in Project 2 to Wesizwe as a part of the reorganization completed on April 22, 2010.

On Project 1 Platinum Group has defined a large scale, high grade, near-surface platinum deposit and is currently in process of arranging production financing.  A Positive Feasibility Study for Project 1 was published on July 7, 2008. An updated feasibility study was published October 8, 2009.  Based on these two reports the planned mine life is 22 years with room to extend that mine life from existing resources on Projects 1 and 3.

Project 1 has significant Measured and Indicated Resources, including Proven & Probable 4E Reserves.  See Reserves and Resources details on this website at Western Bushveld JV: Resources.

On Project 3 Platinum Group has defined Indicated Resources of 4E ounces (platinum, palladium, rhodium and gold).  See news release dated September 30, 2010 and Reserves and Resources details on this website at Western Bushveld JV: Resources.