Resource World Magazine

F E B R U A R Y / M A R C H 2 0 1 9 www.resourceworld.com 39 MINING * Resource World does not sell your information to third parties #604-700 W Pender St., Vancouver BC V6C 1G8 Canada online at www.resourceworld.com or phone 1.877.484.3800 SAVE 50% up to Resource World (Print and Digital Edition) 1 Year/6 issues (CAD $24.95) Resource World (Digital Edition) 1 Year/6 issues (CAD $12.95) Resource World International (outside Canada and USA (Print and Digital Edition) 1 Year/6 issues (CAD $99.95) NAME ADDRESS TEL EMAIL "These excellent production results combined with strong palladium prices resulted in an increase in revenue of 48% and adjusted EBITDA of over $100 mil- lion year to date. On September 17, the company announced the results of a new Feasibility Study for LDI (Lac des Iles), which outlined a new plan to extend the mine life, generate increased cash flow by optimizing resources formerly included in the Roby open pit pushback plan and by added reserves that were previously left unmined the open pit design," said Jim Gallagher, President and CEO. The Feasibility Study outlined a mine life extended by one year to 2027, with average underground production increas - ing from 6,000 to more than 12,000 tonnes per day and includes a total of 40.9 mil- lion tonnes of underground and surface reserves at an average palladium grade of 2.31 g/t, yielding 2.32 million ounces of payable palladium production. Platinum Group Metals Ltd. [PTM- TSX; PLG-NYSE American] has been advancing the Waterberg palladium-rich PGE project in the Bushveld Complex of South Africa. The project is a joint ven - ture between Platinum Group (37.05%), JOGMEC (Japan Oil, Gas and Metals National Corporation) (21.95%), BEE part- ner Mnombo Wethu Consultants (Pty) Ltd. (26%) and Impala Platinum Holdings Ltd. (Implats) (15%). As a result of Platinum Group's 49.90% ownership in Mnombo, the company has an effective interest in the Waterberg JV of 50.02%. Surrounded by platinum mines, a Pre- Feasibility Study (PFS) was completed in 2016 at the Waterberg Project and a Definitive Feasibility Study is underway that is scheduled for completion in calendar Q1 2019. The DFS will study the PFS min - ing scale and a potentially smaller scale, lower capital option for development. The deposit starts at approximately 140 metres from surface and will be developed with decline ramps. Mineralization remains open for expansion with significant resources yet to be converted to reserves. A resource update was announced October 25, 2018. Current measured and indicated resources (100%) stand at 26.34 million ounces (242M tonnes at 3.38 g/t palladium, platinum, gold & rho - dium) at a 2.5 g/t cut-off. Reserves will be updated as part of the planned 2019 Definitive Feasibility Study. A total of 61% of Waterberg reserves and resources of PGMs are palladium. Platinum Group Metals recently underwent a 1-for-10 share rollback. The 64%-owned Platreef Project of Ivanhoe Mines Ltd. [IVN-TSX; IVPAF- OTCQX] on the North Limb of the Bushveld Complex is at the development stage with much underground develop - ment completed. Production is aiming for early 2022. The first phase envisages annual throughput rate of 4 million tonnes of ore per year, producing 476,000 ounces of platinum, palladium, rhodium and gold (3PE+gold), plus 33 million pounds of nickel and copper. New Age Metals Inc. [NAM-TSXV; PAWEF-OTCQB] is working towards feasibility at its 100%-owned, palladium- dominant, flagship River Valley Project 60 km northeast of Sudbury, Ontario. Refer to article in Resource World Oct-Nov 2018 page 52. The project hosts measured and indicated 4.6 million ounces of PdEq (pal - ladium equivalent and 2.7 million ounces PdEq inferred. These figures are not NI 43-101 compliant and the company is bringing them up to standard. To date, 710 drill holes totalling about 200,000 metres have been completed. n

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