Platinum Group Metals Ltd. Reports Progress on Waterberg Project Amid Financial Losses

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) has provided an update on its Waterberg Project in South Africa, alongside reporting a net loss of $3.4 million for the nine months ended May 31, 2025. This figure represents a decrease from the $4.02 million loss reported in the previous year, indicating a slight improvement in the company's financial performance. The Waterberg Project, a fully mechanized platinum group metals (PGM) mine, is a focal point for the company, which is working towards a development decision supported by construction financing and offtake agreements.

In addition to its mining operations, Platinum Group Metals is exploring innovative applications for platinum and palladium through its collaboration with Valterra and Florida International University (FIU) via Lion Battery Technologies. This partnership aims to investigate the use of these metals in battery technology, potentially opening new markets for the company's products. The company has also engaged in recent financing activities, including a $1 million private placement with HCI and raising $12.3 million through its 2025 at-the-market program, to support its operational and exploratory endeavors.

The company is currently evaluating options for concentrate processing, with considerations including a proposed smelter in Saudi Arabia and a matte furnace in South Africa. These evaluations are part of Platinum Group Metals' strategy to optimize its operations and enhance the value of its outputs. The updated Definitive Feasibility Study (DFS) for the Waterberg Project underscores its potential as a large-scale, low-cost operation, further solidifying its importance to the company's future. Additionally, the company's commitment to environmental, social, and governance (ESG) principles was recognized with a BBB rating from Digbee in 2024.

Platinum Group Metals' efforts to advance the Waterberg Project and explore new applications for its metals highlight its strategic approach to growth and innovation in the PGM sector. The company's financial performance, while still reflecting a loss, shows signs of improvement, and its collaborative and financing initiatives position it for potential future successes. The implications of these developments extend beyond the company, offering insights into the evolving PGM market and the potential for new technologies to drive demand for these critical metals.