Northern Shield Resources Inc. announced the results of an airborne VTEM survey conducted over a portion of the Highbank Lake property last November that was funded by Impala Platinum Holdings Ltd. under the terms of its option agreement with Northern Shield. For full story, click here
Impala Platinum reduced spending on new projects and company’s output targets after the price of the metal fell from a record last year. Chief Executive Officer David Brown said: Impala will produce 2.1 million ounces of platinum in 2012, 8.7 percent less than previously planned. For more information, click here
The world’s second-biggest platinum producer, will release its annual profit figures on Feb. 19. 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.
Impala Platinum’s Zimbabwe unit Zimplats Holdings Ltd says ceased open pit mining. For full story, click here
Platinum rebounded early in ’09, and came back into the four digits, the metal’s highest value in over 12 weeks. In 2008 the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years.
Platinum miner, Anglo Platinum jumped 4.78 percent to 438 rand, Impala Platinum surged 10.47 percent to 115 rand while Lonmin collected 3.17 percent to 130 rand. For full story, click here
Impala Platinum Holdings Co. jumped 10 percent to $10.53. For full story, click here
Platinum miner Anglo Platinum (AMS) slumped 28.98 rand, or 6.34%, to 428.02 rand and Impala Platinum (IMP) was off 2.68 rand, or 2.34%, to 111.87 rand, but Lonmin (LON) added 2.17 rand, or 1.57%, to 140 rand. For full story, click here
Platinum started the week off on a good note, prices rose more than 3 percent as the greenback weakened and a renewed optimism on platinum’s future market returned to analysts.
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