Black-owned and black-managed platinum group metals mining company Royal Bafokeng Platinum (RBPlat) on Tuesday announced a capital raise of R1 029-million through a rights offer that represents the key final building block to secure the company’s path to 500 000 oz of platinum group element (4E) production. On offer are 46 777 694 new ordinary RBPlat shares at R22 a share in the ratio of one right share for every 4.5 RBPlat ordinary shares, with the price representing a 33.3% discount to last Friday’s JSE closing price.
