On April 3, 2024, the directors and shareholders of Waterberg JV Co. unanimously approved a $1.35 million Stage Four Budget. This budget is allocated for the continuation of work programs for the Waterberg Project through approximately August 2024.
Impala Platinum Holdings Ltd. (Implats) again stated that its 2023 group-wide restriction on capital expenditures remained in effect, preventing it from funding its share of current cash calls. This resulted in Implats' interest in Waterberg JV Co. being diluted by 0.087% to approximately 14.864%.
Platinum Group Metals funded Implats' shortfall, which led to a concurrent increase in Platinum Group's direct interest in Waterberg JV Co. This ensures the uninterrupted progress of the Waterberg Project's pre-construction activities.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.