History

Key:

  • Technical
  • Financial
  • 2014

    November - Pallinghurst Ivy Lane Capital Limited invests

    July - Pallinghurst EMG African Queen LP invests

    February - Section 11 approval to consolidate key mining rights received

     
  • 2013

    December - Name changed to Sedibelo Platinum Mines

     
  • 2012

    December - Smelting contract with Impala concluded

    December - IDC invests R3.24 billion

    November - Consolidation of the Wilgespruit and Magazynskraal properties

    June - PPM took over concentrator operations from Minopex

    April - PPM’s pit flooding EMP approved

    April - Sedibelo West included into PPM mining right

     
  • 2011

    December - Shares delisted from the TSX and JSE

    October - London AIM listing cancelled

    March - Platmin buys six million 6E PGM resource ounces in the Sedibelo West property, contiguous with its West Pit

    March - Platmin agrees to convert all of its convertible debentures (worth USD135 million)

    January - Platmin declares commercial production at PPM

     
  • 2010

    December - Platmin announces the extension of the maturity date of its convertible bonds

    November - December - Platmin completes a new share placement worth USD90 million

    May - Platmin completes a USD250 million capital raising by way of new equity and USD135 million in convertible debentures

    April - Conditional agreement signed to acquire a 10% stake in the Sedibelo project, adjacent to the Pilanesberg mine (PPM).

     
  • 2009

    December - Pallinghurst invests USD125 million

    December - Platmin changes its financial year-end from February 28 to December 31

    October - Platmin enters into a R400 million revolving commodity pipeline finance facility with Investec Bank Limited, to fund working capital

    August - Platmin pays off the outstanding balance of a USD51.987 million bridge loan facility with Standard Bank of South Africa Limited

    July - Listed on the JSE

    June - Eskom completes the second phase of power allocation to PPM increasing total capacity to 37MVA

    June - Merensky concentrator commissioned

    April - First concentrate delivered to Northam Platinum for toll smelting

    March - Processing UG2 reef begins         

    March - UG2 concentrator commissioned

     
  • 2008

    December - Platmin announces a USD175 million equity financing to fund construction of PPM

    May - Platmin and Standard Bank of South Africa Limited agree on a R350 million bridge loan facility for the PPM project

    February - Reef mining and stockpiling of PGM-bearing ore begins at PPM

    February - First reef stockpiled

    February - PPM Mining Rights approved by the Department of Mineral Resources (DMR)

    January - Moepi, Platmin’s Black Economic Empowerment (BEE) partner, consolidates a 26.8% BEE ownership in Boynton, part of the PPM corporate holding structure

     
  • 2007

    December - Gross proceeds raised from the public and private placements announced on 7 December increases to C$92.8 million

    December - Platmin completes a public offering and private placement to raise gross proceeds of C$80,750,000. This offer was underwritten by a syndicate of underwriters jointly led by RBC Capital Markets, GMP Securities L.P and Haywood Securities Inc. The funds were principally for development of the PPM project

    October - Construction at PPM started

    July - Platmin announced the completion of a feasibility study on its Pilanesberg Project by SRK Consultants and the appointment of engineering firm Dowding Reynard and Associates (DRA) to oversee the design and construction of mine facilities noting that open-pit production is expected to start in 2009

     
  • 2006

    August - Listed on the TSX

    March > May - Platmin raised gross proceeds of USD14.70 million via rights issue to all shareholders

     
  • 2005

    December - A major RSA PGM producer makes an offer to all Platmin shareholders for all outstanding shares of the company

     
  • 2004

    September - A private placement for gross proceeds of USD10 million was completed

    September - Platmin indirectly acquires a further interest in the Mphahlele Project from Ashanti Goldfields Cayman Limited, raising Platmin’s indirect beneficial interest in that project to 57.4%

     
  • 2003

    November - Tameng Mining and Exploration Pty Ltd (a Platmin group company) is granted a prospecting permit covering the Mphahlele Project.

    July - Platmin raises gross proceeds of USD13 million via a private placement through BMO Nesbitt Burns with CDC (Actis – the investment fund of the British Government) and Africa Lion (an Australian based fund). North American clients of BMO Nesbitt Burns become shareholders

    January - Lonmin agrees to purchase an option to acquire a 50% interest in Boynton's interest in the Loskop PGM project by incurring certain expenditures

     
  • 1999

    January - The search to acquire mineral rights begins, principally through option agreements on properties within the Bushveld Complex in South Africa