Police Disperse Protesters Near Ivanhoe’s Platreef Project

Police Disperse Protesters Near Ivanhoe’s Platreef Project

Ivanhoe Mines just got approval to move forward with its massive $1.6-billion Platreef platinum project in South Africa, but reports released Wednesday suggest that those who don't approve of the project still want to make their voices heard.

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Company News

Wellgreen Platinum Still Aiming to Complete PEA in 2014

Wellgreen Platinum (TSXV:WG,OTCQX:WGPLF) provided an update on the progress of a preliminary economic assessment for its Wellgreen project, suggesting that it is still aiming to complete the study before the end of 2014. Wellgreen has completed a $9.1 million non-brokered equity financing. The placement was completed at a roughly 11 percent premium to the company's 10 day volume weighted average trading price.

Transition Metals Resumes Drilling at Sunday Lake

Transition Metals (TSXV:XTM) has resumed drilling at its Sunday Lake discovery north of Thunder Bay, Ontario. The project is a joint venture with Impala Platinum (JSE:IMP).

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Market News

Platinum and Palladium to Supplies to Fall Short of Demand in 2015

For the fourth year in a row, platinum and palladium supplies are anticipated to fall short of demand, according to Bloomberg. Citing Johnson Matthey, the news outlet said that increased demand will make up for an increase in output from South African mines following protracted strikes earlier this year.

New Industry Body to Stoke Investment Demand for Platinum

According to Reuters, a new industry body being formed to encourage investment demand for platinum is set to launch later this year. The body, which will likely be based in London or Johannesburg, will be called the World Platinum Investment Council.

Platinum Bull Market to Come?

According to an article from Seeking Alpha, platinum could still stand to swing into a bull market this year on the back of shrinking resources and slowing production from South Africa. Analysts from J.P. Morgan and Standard Bank see stockpiles that have stopped prices from rising as of late are rapidly being depleted.

Investors Cowed by Platinum Supply Uncertainties

Reuters reported that one reason investors are shying away from platinum is that it's uncertain how much of the metal exists above ground "or more importantly who holds it."

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