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
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 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.
East West Resource Corporation has entered into an option agreement with International Bethlehem Mining Corp. whereby International Bethlehem has been granted an option to earn an initial 30% interest in East Wests Eva Kitto platinum group element property located north-northeast of Thunder Bay, Ontario. For full story, click here
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