WORK on a definitive feasibility study for the Waterberg Joint Venture involving Impala Platinum (Implats) and Japan Oil, Gas and Metals National Corporation was progressing on budget with 38,000 meters of infill drilling completed.
This takes total drilling completed on the project to approximately 346,000 meters, said Platinum Group Metals (PTM) which is also part of the joint venture. An updated resource model and technical report for the venture was due in the third quarter of this year.
“We have successfully completed the infill drill program and we are working very closely with all our partners, stakeholders and engineers to maximize the value of this extraordinary deposit – all at a time when the interest in palladium, the project’s primary metal, is increasing,” said Michael Jones, CEO of PTM in a statement.
PTM also announced it had been informed by the New York Stock Exchange that were the price of its shares not to increase in value it would be forced to conduct “… a reverse stock split” by November 18 in order to remain listed on the bourse.
