Platinum Group Metals Ltd. reported positive results on September 16, 2024, from an Independent Definitive Feasibility Study Update (DFS Update) for its Waterberg Project. The study indicates a 20% increase in Proven and Probable mineral reserves, now totaling 23.41 million 4E ounces.
The DFS Update extends the projected mine life from 45 years to 54 years and outlines robust economics, including an after-tax Net Present Value of $569 million at an 8% real discount rate. The project is expected to generate $6.50 billion in free after-tax cashflow over its life of mine.
Key improvements include a reduction in estimated total project capital to $946 million, with peak capital at $776 million, partly due to a $200 million saving from deferring South Complex T-Zone infrastructure. The study also incorporates dry stack tailings technology, reducing make-up water requirements by 36% and the tailings impoundment footprint by 46%.
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