Referenced Stocks

Platinum Group Metals Dips 2%; Updates on Expansion of Waterberg Drilling Site

By Midnight Trader,  September 17, 2012, 10:46:04 AM EDT

Platinum Group Metals Ltd. ( PLG ) is down 2.4% at an intraday low of $1.23 after the company announced that the drilling at the Waterberg has significantly expanded the new discovery area of layered mineralization outside of the declared inferred resources of 6.6 million ounces.

Intercepts have been made on the T1 and T2 layers that expand the area for approximately 1.5 kilometers northeast from the initial resource area and on the FH and FP the layers new intercepts have also expanded this area for approximately 1.5 kilometers. Drilling continues approximately 3 kilometers north east of the resource area for the FH and FP mineral resource. The Bushveld Complex has been intercepted in this 3 km expanded drilling. The significant intercepts are detailed below.

PLG trades in a 52-week range of $0.75 - $1.72. Shares have fallen 2% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: PLG



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