Platinum Group Metals Reports 20% Reserve Increase and Cost Reductions in Updated Waterberg Project Study
TL;DR
Platinum Group Metals' updated DFS shows a 20% reserve increase and lower costs, offering investors a competitive edge with enhanced project economics and extended mine life.
The updated DFS by Stantec and DRA incorporates engineering enhancements that reduced capital and operating costs while streamlining the construction and ramp-up schedule.
The Waterberg Project's 54-year mine life supports long-term economic stability and job creation in South Africa through sustainable resource development.
Platinum Group Metals discovered a massive 23.41 million ounce deposit containing platinum, palladium, rhodium and gold in South Africa's Waterberg Project.
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Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) has released its updated Definitive Feasibility Study for the Waterberg Project, revealing significant improvements in both mineral reserves and project economics. The study, prepared by leading engineering firms Stantec and DRA with project management oversight from South Africa-based Fraser McGill, updates the original 2019 Waterberg DFS and demonstrates the project's substantial scale and economic strength.
Among the most notable findings, the updated study revealed a 20% increase in proven and probable mineral reserves, now totaling 23.41 million ounces of combined platinum, palladium, rhodium and gold across a 54-year mine life. This substantial reserve expansion significantly enhances the project's long-term viability and production potential. The comprehensive report, available at https://ibn.fm/hlrLE, provides detailed technical and economic analysis supporting these reserve estimates.
The study also incorporated several enhancements that have lowered both capital and operating costs while streamlining the construction and ramp-up schedule. These cost efficiencies are particularly significant given the current economic environment and commodity price fluctuations affecting the mining sector. The improved economics position the Waterberg Project as one of the more attractive platinum group metal developments globally.
The Waterberg Project represents a bulk underground palladium and platinum deposit located in South Africa, discovered by Platinum Group Metals and being jointly developed with Implats, Mnombo and HJM. As the project operator, Platinum Group Metals continues to advance the development through detailed engineering and permitting processes. Additional information about the company's operations and progress can be found at https://ibn.fm/PLG, which provides access to the latest news and updates relating to PLG.
The updated feasibility study comes at a critical time for the platinum group metals market, where supply constraints and increasing demand for these metals in industrial applications, particularly in automotive catalytic converters and hydrogen technologies, are creating favorable market conditions. The increased reserves and reduced costs position the Waterberg Project to potentially become a significant contributor to global platinum group metals supply, particularly given its extended mine life and improved economic metrics compared to previous assessments.
Curated from InvestorBrandNetwork (IBN)
