african-news-header

Multimedia

multimedia

 

Sunday, 14th August 2022
3:21:40am

South Africa-focused Platinum Group Metals (PTM) incurred a net loss of $7.26 million during the nine months ended May 31, 2022, compared to $8.84 million, a year earlier.

It said general and administrative expenses were $3.26 million during the period under consideration compared to the previous year’s $2.91 million.

The increase in expenses was primarily due to legal fees for the Africa Wide trial, which took place between October 2021 and March 2022.

It said loss per share for the period amounted to $0.08 compared to a loss of $0.12 per share for the nine months ended May 31, 2021.

PTM is focused on advancing the Waterberg project located on the Northern Limb of the Bushveld Complex in South Africa.

The Waterberg project, it said, is planned as a fully mechanised, shallow, decline access palladium, platinum, gold and rhodium mine and is projected to be one of the largest and lowest cost underground platinum group metals mines globally.

The company is also advancing research and development through Lion Battery Technologies using platinum and palladium in lithium battery technologies in collaboration with Anglo American Platinum and Florida International University.

About us

African News Centre is an online media company, which strives to bring you the very latest African news.

Contact us

If you have any contributions contact us on email: This email address is being protected from spambots. You need JavaScript enabled to view it.
African News Centre | Postal Address | P.O Box 90455 | Klein Windhoek | Namibia | 9000