Platinum Group Metals Ltd. declared a net loss for the second quarter of C$3.766 million or C$0.06 per share, compared to a loss of C$2.35 million or C$0.04 per share in the year-ago quarter. Net interest income plunged to C$24,274 from C$182,916 in the preceding year quarter. For full story, click here
South African-focused Aquarius Platinum Ltd expects a first-half, after-tax loss of $75 million to $85 million due to weak metals prices, it said. For full story, click here
Platinum has shed 45 per cent of its value in just nine months. Last Friday the spot price of platinum hit a low of $812.75 per oz. Now, for this first time in 12 years gold has surpassed platinum in value.
Up to 4 000 employees at Lonmin’s South African operations may loose their jobs. For full story, click here
Falling metals prices dropped Eastern Platinum Ltd. to a Q3 loss of $10.6 million from a year-earlier loss of $1.4 million. For full story, click here For company’s website, click here
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