Platinum Group Metals Reports Improved Financial Results While Advancing Waterberg Project Development

Platinum Group Metals Ltd. has reported a net loss of $3.4 million for the nine months ended May 31, 2025, representing a significant improvement from the $4.02 million loss recorded during the same period the previous year. The company continues to advance its flagship Waterberg Project in South Africa, a fully mechanized platinum group metals mine moving toward a critical development decision. This progress is supported by ongoing efforts to secure construction financing and establish offtake agreements that would ensure market access for the project's output.

The company's diversification strategy includes exploring innovative battery applications through its collaboration with Valterra and Florida International University via Lion Battery Technologies. This partnership focuses on utilizing platinum and palladium in advanced battery technologies, potentially opening new markets beyond traditional industrial applications. Recent financial activities have strengthened the company's position, including a $1 million private placement with HCI and the successful raising of $12.3 million through its 2025 at-the-market program. These capital raises provide essential funding for ongoing project development and operational requirements.

Processing options for concentrate from the Waterberg Project are under evaluation, with considerations including a proposed smelter in Saudi Arabia and a matte furnace in South Africa. The updated definitive feasibility study for Waterberg highlights the project's potential as a large-scale, low-cost operation that could significantly contribute to global platinum group metals supply. Environmental, social, and governance principles remain central to the company's operations, as evidenced by its 2024 ESG rating of BBB from Digbee, reflecting commitment to sustainable mining practices. Additional information about these developments is available at https://ibn.fm/xFBMU.