On December 11, 2023, the directors and shareholders of Waterberg JV Co. unanimously approved a stage three budget of $1.65 million for continued work on the Waterberg Project. This budget covers the period from September 2023 to approximately February 2024.
Impala Platinum Holdings Ltd. (Implats) informed the joint venture that it could not fund its 15% share of the Stage Three Budget due to a group-wide restriction on capital expenditures. As a result, Implats' interest in Waterberg JV Co. was diluted to approximately 14.951%.
Platinum Group Metals elected to fund Implats' shortfall, which concurrently increased Platinum Group's direct interest in Waterberg JV Co. This action ensures the continuation of essential work programs for the Waterberg Project.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.