{"id":1140336,"date":"2019-09-25T13:33:15","date_gmt":"2019-09-25T18:33:15","guid":{"rendered":"https:\/\/www.mining.com\/?p=1002854"},"modified":"2019-09-25T13:33:15","modified_gmt":"2019-09-25T18:33:15","slug":"platinum-group-metals-boosts-reserves-at-waterberg-mine-with-new-dfs","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1140336","title":{"rendered":"Platinum Group Metals boosts reserves at Waterberg mine with new DFS"},"content":{"rendered":"<p>Platinum Group Metals Ltd.\u00a0(TSX: PTM) <a rel=\"noreferrer noopener\" aria-label=\"announced on Tuesday (opens in a new tab)\" href=\"http:\/\/www.platinumgroupmetals.net\/investor-relations\/news\/press-releases\/press-releases-details\/2019\/Platinum-Group-Metals-Ltd-Announces-Positive-Independent-Definitive-Feasibility-Study-for-the-Waterberg-Palladium-Mine-093f81be2\/default.aspx\" >announced on Tuesday<\/a> positive results from an independent definitive feasibility study (DFS) on the Waterberg platinum mine. The project, located in South Africa\u2019s Bushveld Complex, is a joint venture between Platinum Group Metals (37.05%), JOGMEC (21.95%), Mnombo Wethu Consultants (26%) and Impala Platinum (15%).<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The DFS shows a significant increase in mineral reserves from the 2016 prefeasibility study (PFS) for a large-scale palladium, platinum, gold and rhodium (4E) mine. However, annual steady state 4E production is estimated at 420,000 ounces, which is a lower production rate than shown in the PFS.<\/p>\n<p>Other highlights of the DFS include an after-tax NPV of $982 million (at 8% discount rate) and an after-tax IRR of 20.7%. Project capital for the Waterberg mine is approximately $874 million. Measured and indicated resources now total 242 million tonnes at 3.38 g\/t 4E for 26.4 million 4E ounces.<\/p>\n<p>&#8220;The DFS provides a clear outline of the world-class nature of the Waterberg palladium deposit and concludes that it can be one of the largest fully mechanized, low-cost platinum group metals mines in the world,&#8221; Michael Jones, CEO and co-founder of Platinum Group Metals, stated in Tuesday&#8217;s press release.<\/p>\n<p>Under the DFS mine plan, first production is estimated in late 2023 with ramp-up to steady state by 2027. The life of mine on current mineral reserves extends to year 2066.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under the DFS mine plan, first production is estimated in late 2023 with ramp-up to steady state by 2027.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140336"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1140336"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140336\/revisions"}],"predecessor-version":[{"id":1140345,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1140336\/revisions\/1140345"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1140336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1140336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1140336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}