Platinum Group Metals Ltd. (PLG) released its fiscal year‑ended August 31, 2025 financial results, reporting a net loss of $4.54 million—an improvement of $70,000 compared with the $4.61 million loss for the same period a year earlier. The modest gain in loss is largely attributable to a $95,000 foreign‑exchange gain, up from $4,000 in the prior year, and a $70,000 reduction in general and administrative expenses, which fell to $3.66 million from $3.42 million.
Operating expenses rose to $3.66 million, reflecting higher costs associated with the company’s ongoing Waterberg Project development. Share‑based compensation decreased to $1.19 million from $1.36 million, a cost‑control measure that helped offset the rise in operating expenses. Capital expenditures on the Waterberg Project were $2.0 million, down from $3.0 million the previous year, indicating a shift toward pre‑construction work and tighter spending as the project moves toward a definitive feasibility study.
Cash and cash equivalents stood at $3.70 million as of August 31, 2025, while the debt‑to‑equity ratio remained at a low 0.01, underscoring PLG’s conservative balance‑sheet stance. The company’s modest cash position is balanced by its negligible debt load, giving it flexibility to fund the Waterberg development and its battery‑technology initiatives without raising additional capital.
Earnings per share for the year were $0.04, an improvement from $0.05 in the prior year, reflecting the combined effect of higher foreign‑exchange gains and lower share‑based compensation. Although the company reported no revenue—consistent with its status as a development‑stage miner—the improved loss and EPS suggest that cost‑control measures are beginning to take effect as the Waterberg Project advances.
Management emphasized that the focus remains on advancing the Waterberg Project to a development and construction decision, securing construction financing, and establishing concentrate offtake agreements. The company’s low debt‑to‑equity ratio and controlled capital expenditures signal confidence in its ability to sustain the project’s development phase while maintaining financial discipline.
Overall, the results demonstrate a modest improvement in profitability metrics and a continued commitment to cost discipline, positioning PLG to progress the Waterberg Project while preserving a conservative balance sheet.
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