- Platinum Group Metals (NYSE:PLG -5.5%) said that it has received a formal notice from Impala Platinum (OTCQX:IMPUY -5.2%) that amid the pandemic challenges it does not intend to exercise its option to purchase and earn into a 50.01% interest in the Waterberg Project in which the former holds a 50.2% interest.
- Implats will not receive credit at the joint venture level for the funded 55M Rand budget as set out in the joint venture agreements.
- PLG has recently received interest in the project from other parties for funding and strategic off-take. Closing of its earlier announced non-brokered private placement on June 2, 2020 is postponed now.