Platinum Investing News

Physical Platinum a Good Bet Moving Forward

Charlotte McLeod — Thu, 23 May 2013 16:25:15 +0000

Writing for Sprott Inc. (TSX:SII), David Franklin reported that investors in platinum stocks have been selling their shares over the last month and a half on the back of fears that the sector is in "terminal decline." He believes that the way forward for investors is to invest in the metal itself.

Jubilee Platinum Delays Platinum Australia Acquisition Again

Charlotte McLeod — Wed, 22 May 2013 18:11:22 +0000

Jubilee Platinum plc (LSE:JLP) provided an operations update, noting that it has again extended the transactional end date for its acquisition of Platinum Australia Ltd. (ASX:PLA). The end date is now July 31, 2013.

Amplats to Begin Cutting 6,000 South African Jobs

Charlotte McLeod — Wed, 22 May 2013 16:53:01 +0000

Mineweb reported that at the end of this week, Anglo American Platinum Ltd. (OTC Pink:AGPPY) will formally begin the process of cutting 6,000 jobs in South Africa. Some fear that the action will provoke unrest.

Colossus Minerals Announces C$25 Million Bought Deal Financing

Pia Rivera — Wed, 22 May 2013 15:21:55 +0000

Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced a bought deal with aggregate gross proceeds of C$25,000,000 -comprised of 15,625,000 common shares of the Company at a price of C$1.60 per Common Share - with GMP Securities L.P. on its own behalf and on behalf of Dundee Securities Ltd. (together with GMP) and a syndicate of underwriters (together with the Co-Lead Underwriters).

Colossus Minerals Reports Voting Results

Gretchen Cruz — Tue, 21 May 2013 17:39:43 +0000

Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced voting results from the annual and special meeting of shareholders held on May 21st, 2013, and J. Alberto Arias, John Frostiak, David Garofalo, Greg Hall, Mel Leiderman, Claudio Mancuso, Douglas Reeson, and John S.M. Turner were elected as directors of the Company.

Platinum to End 2013 at $1,690 an Ounce

Charlotte McLeod — Tue, 21 May 2013 17:01:29 +0000

Bloomberg reported that as platinum miners limit supply, demand for the metal is increasing. It is expected to end the year at $1,690 per ounce, up 16 percent from its current price.

Striking South African Lonmin Workers Return to Work

Charlotte McLeod — Fri, 17 May 2013 17:08:50 +0000

AllAfrica reported that 83 percent of workers striking at Lonmin plc's (LSE:LMI) South Africa-based Marikana mine went back to work on Wednesday night. They had been ordered back to work earlier in the day by the president of the Association of Mine Workers and Construction Union.

Colossus’ Serra Pelada Mine Set to Begin Production in Q3 2013

Pia Rivera — Thu, 16 May 2013 18:22:47 +0000

Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) provided an update on its Brazil-based, 75-percent owned Serra Pelada gold-platinum-palladium mine, commenting that the mine is on track to begin production of 250 metric tons per day in Q3 2013.

New Estimate Expands Mineral Resources at Ivanplats’ Platreef Project

Charlotte McLeod — Thu, 16 May 2013 17:30:27 +0000

Ivanplats Ltd. (TSX:IVP) announced its financial results for the first quarter of 2013, commenting that the mineral resources at its Flatreef deposit, which is located at the company's South Africa-based Platreef platinum-palladium-gold-rhodium-nickel-copper project, have been expanded and upgraded by a new resource estimate.

Lonmin Workers Strike for a Second Day in South Africa

Charlotte McLeod — Wed, 15 May 2013 16:43:46 +0000

Reuters reported that a wildcat strike at Lonmin plc's (LSE:LMI) South Africa-based Marikana mine has now been going on for two days. Moody's analysts have said that more violence could result in a credit downgrade for the country.