Curated News
By: NewsRamp Editorial Staff
May 30, 2025
Platinum Group Metals Closes $1.008M Placement with HCI to Support Waterberg Project
TLDR
- HCI's US$1.008M investment in Platinum Group Metals secures a 26% ownership stake, offering strategic advantage in the palladium and platinum market.
- HCI's subsidiary Deepkloof Limited purchased 800,000 common shares of Platinum Group Metals at US$1.26 per share, raising HCI's ownership to 26%.
- The investment by HCI in Platinum Group Metals will support pre-construction work at the Waterberg Project in South Africa, benefiting local communities and advancing sustainable mining practices.
- Platinum Group Metals' collaboration with HCI highlights the evolving landscape of strategic investments in the mining sector, paving the way for future partnerships and industry growth.
Impact - Why it Matters
This news highlights the ongoing developments at the Waterberg Project and the commitment of major stakeholders like HCI. The financial support will enable progress in pre-construction activities, ultimately contributing to the growth of the mining and resources sector in South Africa.
Summary
Platinum Group Metals (NYSE American: PLG) (TSX: PTM) has completed a US$1.008 million private placement with major shareholder HCI, restoring ownership to 26%. The funds will support pre-construction work at the Waterberg Project in South Africa.
The Waterberg Project, operated by Platinum Group Metals, is a significant palladium and platinum deposit jointly developed with industry partners. The deal, which benefits from certain exemptions, underscores HCI's continued support for the project's advancement.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Platinum Group Metals Closes $1.008M Placement with HCI to Support Waterberg Project
