Miner Platinum Australia Ltd. declared that it has raised $47.6 million through a private placement to repay debt for its Smokey Hills Project in South Africa, develop new and existing projects, and for working capital. For full story, click here
Miner Platinum Australia Ltd., its new mineral estimate at the Vela deposit at the Kalahari Platinum project surged 300 percent, sending its shares up 22 percent. For full story, click here
Miner Platinum Australia Ltd. announced that its new mineral resource estimate at the Kalahari Platinum project in Johannesburg surged 160 percent with the overall grade up almost 25 percent. For full story, click here
ASX- and Aim-listed Platinum Australia has delayed the finalisation the bankable-feasibility study (BFS) of the Kalahari Platinum (Kalplat) project, located in South Africa’s North West province, to the second quarter of this year, it reported on Tuesday. For full story, click here
Platinum showed extreme volatility in 2008, rising to an all-time high of $2,290 an ounce in March on the back of a power shortage in major producer South Africa, before falling to a five-year low of $732.50 in October.
Platinum Australia forecasts that the shortfall in platinum is expected to increase this year. Platinum Australia managing director John Lewins said: The platinum market was in deficit last year by 500,000 ounces (oz) but there was demand of seven million oz. For more information, click here
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