October 16, 2017 / 3:45 PM / 2 years ago

BRIEF-Impala Platinum makes investment to advance development of Waterberg PGE project

Oct 16 (Reuters) - Platinum Group Metals Ltd:

* Impala Platinum makes strategic investment to advance development of the Waterberg PGE project

* Platinum Group Metals Ltd says ‍immediately purchase 15.0 percent interest in Waterberg project for US$30.0 million​

* Platinum Group Metals Ltd - ‍ Impala Platinum Holdings entered deals with co, the Japan Oil, Gas and Metals National Corporation, among others

* Platinum Group Metals Ltd - co to retain 31.96% direct & indirect interest in Waterberg project if implats were to exercise its full option​

* Platinum Group Metals Ltd - ‍JOGMEC will retain certain metal marketing rights to final metal related to Waterberg project​

* Platinum Group Metals Ltd - ‍initial purchase does not effect change of control of Waterberg project​

* Platinum Group-‍implats to have option to up stake in Waterberg project​ to 50.01% with additional purchases,earn-in arrangements totaling US$166 million Source text for Eikon: Further company coverage:

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