Platinum Group Metals Reports 20% Reserve Increase and Cost Reductions in Updated Waterberg Feasibility Study
Platinum Group Metals Ltd. announced an updated feasibility study showing a 20% increase in proven and probable mineral reserves and reduced costs at its Waterberg Project, positioning the South African palladium and platinum deposit for enhanced economic viability.
Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) has released an updated Definitive Feasibility Study for its 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, represents a comprehensive update to the original 2019 Waterberg DFS.
The updated feasibility study demonstrates a substantial 20% increase in proven and probable mineral reserves, now totaling 23.41 million ounces of combined platinum, palladium, rhodium and gold across a projected 54-year mine life. This reserve expansion underscores the project's long-term viability and potential for sustained production of critical platinum group metals. The enhanced reserve base positions Waterberg as a significant contributor to global platinum and palladium supply chains.
Beyond the reserve growth, the study incorporated several operational enhancements that resulted in lowered both capital and operating costs. These cost efficiencies streamline the construction and ramp-up schedule, improving the project's overall economic profile and potentially accelerating its path to production. The combination of increased reserves and reduced costs significantly strengthens the project's investment appeal and financial sustainability.
The Waterberg Project, operated by Platinum Group Metals, represents a bulk underground palladium and platinum deposit located in South Africa. Originally discovered by Platinum Group, the project is being jointly developed with Implats, Mnombo and HJM, creating a collaborative development approach that leverages multiple partners' expertise and resources. For additional information about the company, visit https://www.PlatinumGroupMetals.net.
The updated feasibility study's findings are particularly significant given the growing global demand for platinum group metals in various industrial applications, including automotive catalysts, hydrogen technologies, and electronics. The project's enhanced economics and expanded resource base come at a time when supply constraints and increasing demand are driving renewed interest in platinum group metal investments. The latest news and updates relating to PLG are available in the company's newsroom at https://ibn.fm/PLG.