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Investor Presentations May 2008 London RBC and BAC Platinum Conferences, R. Michael Jones, P.Eng – President, CEO Frank Hallam, CA - CFO.

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Presentation on theme: "Investor Presentations May 2008 London RBC and BAC Platinum Conferences, R. Michael Jones, P.Eng – President, CEO Frank Hallam, CA - CFO."— Presentation transcript:

1 Investor Presentations May 2008 London RBC and BAC Platinum Conferences, R. Michael Jones, P.Eng – President, CEO Frank Hallam, CA - CFO

2 Disclosure This presentation has been prepared by Platinum Group Metals Ltd. (“PTM” or the Company”). Information included in this presentation regarding the Company’s mineral properties has been compiled by R. Michael Jones, P.Eng, the President and Chief Executive Officer of the Company, and a non- independent Qualified Person for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), based on the independent technical reports filed by the Company with the Canadian securities regulators and the U.S. Securities and Exchange Commission (“SEC”). For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s independent technical reports and other filings with the Canadian securities regulators and the SEC, which are available at and, respectively. Scientific or Technical information contained herein is derived from the Company’s technical reports which include more detailed information with respect to the Company’s properties, including the dates of such reports and the estimates included therein, details of quality and grade of each resource, details of the key assumptions, methods and parameters used in the resource estimates and the Pre-Feasibility Study, a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. Information included in this presentation, the Company’s independent technical reports and the Company’s other public statements related to its mineral properties has been prepared in accordance with securities laws in effect in Canada, which differ from U.S. securities laws. The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms in this presentation, such as “resources,” that the SEC’s guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. You are urged to consider closely the disclosure in our Form 40-F annual report, which may be secured from us, or from the SEC’s website at This presentation also contains information about adjacent properties on which the Company has no right to explore or mine. The Company advise you that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This presentation is not an offer to sell, or a solicitation to buy, any securities in any jurisdiction. The Toronto Stock Exchange and the American Stock have not reviewed and do not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company. Historical results presented herein are not guarantees or expectations of future performance.

3 Forward Looking Statements Certain of the statements made herein, including statements regarding the timing of future activities and achievements by the Company, future anticipated exploration and development programs, completion of a bankable feasibility study in respect of the Western Bushveld Joint Venture, business plans, potential mining scenarios and timing of production, business trends and future operating factors and anticipated platinum supply and deficits are forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. In addition, resource estimates and the pre-feasibility study constitute forward-looking statements to the extent that they represent, respectively, estimates of mineralization that may be encountered upon additional exploration and estimates of the capital and operating expenses, metals and currency prices and other operating conditions that may be encountered in the future. Forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, among others: metals price volatility; demand for platinum and the platinum supply; additional fundraising requirements; defective title to mineral claims or property; discrepancies between actual and estimated reserves and resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; changes in national and local government legislation (including environmental legislation), taxation, controls, regulations and political or economic developments in Canada, South Africa or other countries in which the Company does or may carry out business in the future; success of exploration activities and permitting time lines; the speculative nature of mineral exploration, development and mining, including the risks of obtaining necessary licenses and permits; dilution; competition; currency fluctuations; and loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, mine collapses, cave-ins or flooding (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks), as well as the factors described or referred to in the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended August 31, 2007 which is available on SEDAR at, and is included as part of the Company’s Form 40-F annual report filed with the SEC at You are advised to review these risk factors, and not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

4 Large Scale Platinum Projects 12.3 Million Oz -Measured and Indicated Total 8.8 Million Oz- Inferred Total Platinum Group Metals Attributable : 3.6 Million Oz - Measured and Indicated 3.1 Million Oz - Inferred 4E – Platinum, Palladium Rhodium and Gold – See details following

5 Growing and High Ranking 21 % resource growth in the past year Drilling continuing WBJV resources have good grades, high platinum ratios and are shallow compared to many operating mines Decline tunnel access means quicker access compared to vertical shaft access deeper resources

6 Mine Plans Are Well Advanced Project 1 - Detailed Pre-Fease Complete - BFS Due June 30, 2008 - Electric power managed - 90,000 to 100,000 ounce per year Company target share Project 2 - Resource Updated to Measured and Indicated - RSA Mine Engineering Review Project 3- Resources & internal scoping study complete - could add to P1 or P2 or stand alone

7 Mine Plans Are Well Advanced War Springs -Internal scoping complete- external scoping study planned -low grade and thick 6.5 to 8.7m -bulk underground methods, near surface, low cost, declines

8 Value- Leverage Shares Issued:62,452,747 Warrants:Nil Options:4,083,875 Fully Diluted:66,536,622 Market Capitalization: US$160 M Cash US$6.0M May 6, 2008 PTM: TSX PLG: AMEX

9 Platinum Territory

10 WBJV Location WBJV in Yellow, Western Bushveld Mines in Blue WBJV adjoins approx. 25% of Global 4E PGM Production

11 P1 P2 P3 Extensively Drilled – 390 holes plus BRPM Operation Adjacent Western Bushveld Joint Venture

12 WBJV Project 1 Measured and Indicated Resources of 7.3M ounces 4E (See Details) BFS Milestone Q2 2008 Room to expand with further 1.2M ounces 4E Inferred (See Details) Wesizwe (WEZ-JSE) recently purchased Africa Wide – Strong local partner (37%) (26%) PROJECT INTERESTS

13 WBJV Project 2 5.0 M ounces Measured and Indicated 3.9M ounces 4E Inferred Wesizwe has advanced plans for 2008 including mine construction BFS in RSA under review by QP’s (18.5%) (63.0%) PROJECT INTERESTS

14 WBJV Project 3 1.9M ounces Inferred Grades and platinum ratios similar to Projects 1 and Project 2 More resource drilling underway Engineering Scoping underway May report to Project 1 or 2 or stand alone for access (37%) (26%) PROJECT INTERESTS

15 WBJV Each party gets a credit to the forward capital account per ounce for the ounces that come from their contributed property Rates per Inferred, Indicated and Measured Ounce at BFS Can be equalized with cash or forward capital to maintain percentages Partners to contribute pro-rata to BFS See Press Releases for Details

16 Project 1 37% Project 2 18.5% Project 3 37% BRPM Pt Mine

17 Project 1 Project 2 Project 3 BRPM Pt Mine

18 Vertical Shaft Merensky and UG2 Ounces Profile 250,000 to 290,000 4E oz steady state -20 year Project Life

19 Resource Summary See Disclosure, QP Details and Forward Risks

20 Resources Inferred and Indicated Resources are reported. The US Securities and Exchange Commission does not recognize the reporting of Inferred Resources. These resources are reported under Canadian National Instrument 43-101 and have a great amount of uncertainty and risk as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of Inferred Resources will ever be upgraded to a higher category. Under Canadian Rules estimates of Inferred Mineral Resources may not form the sole basis of feasibility studies or pre-feasibility studies. US INVESTORS AND ALL INVESTORS ARE CAUTIONED NOT TO ASSUME THAT PART OR ALL OF AN INFERRED RESOURCE EXISTS, OR ARE ECONOMICALLY OR LEGALLY MINEABLE. We advise US Investors and all investors that while the terms “measured” and “indicated” resources are recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize them. U.S. INVESTORS AND ALL INVESTORS ARE CAUTIONED NOT TO ASSUME THAT ANY PART OF OR ALL OF MINERAL DEPOSITS IN THESE CATEGORIES WILL EVER BE CONVERTED INTO RESERVES. U.S. investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-30306, which may be secured from us, or from the SEC’s website at: Resources do not have demonstrated economic viability. Resources refer to the independent resource estimates of C Muller QP, (SANAPS) Press Release January 10 2007, April 30, 2007, September 7, 2007 and filed at, Technical Reports Filed on SEDAR Nov. 6, 2006, Jan. 30 2007 and Project 2 Resources, David Young QP, Press Release April 22, 2008, Report to be filed Project 3 Resources, Charles Muller QP, Press Release April 25, 2008, Report to be filed War Springs, Charles Muller QP, Press Release March 17, 2008 March 23, 2007. Please see the risk factors and other information in the Disclosure Statement at the start of this presentation. The determination of grade, cut-off, metallurgical recovery factors, assay quality control and assurance, data verification and metal price assumptions are detailed in the press release disclosure and reports on SEDAR at the dates above. All of these factors are preliminary and have considerable risk.

21 WBJV Project 1 Pre-Feasibility Operating Cost Estimates – Life of Mine Pay back – Pre-fease Operating Costs R/t US$/oz 4E Decline Start-up Option312328 Vertical Shaft Option352328 See Disclosure and Forward Risks Forward Prices Recent Prices Initial Revenue5 - 6 Years5 – 6 Years Payback Post Construction 4 Years3 Years

22 PRE-FEASIBILITY STUDY JAN 2007 Capital Cost and Return MINE DESIGN MAY CHANGE CONSIDERABLY See Disclosure and Forward Risks Revised Design and Costing in Progress for BFS –global mining capital costs have increased Capital: Vertical Shaft and Decline Option (Peak Funding)$272M Contingency included in the capital cost$32 M Vertical Shaft & Decline (Case B)NPV 5%NPV 10%NPV 12.5% (Pre-tax, Current Prices)US$ (Million)881435304 PTM Share NPV5 US$325m IRR29.00%

23 PROJECT 1 Positive Pre-Feasibility Study – January 2007 BFS Final Resource – September 2007 BFS Completion & Publication – Q2 2008 - Project Permits & Production Decision – 2008 Production Financing – 2008 Initial Production Target – 2010 Milestones – Value Points Ahead

24 PROJECT 2 (Wesizwe Operator) BFS First Draft Peer Review – December 2007 BFS Completion Under Review PTM– Q2 2008 Site Preparation for Construction – 2008 Shaft Sinking – 2008 PROJECT 3 Initial Resource Estimate Engineering Scope Milestones

25 War Springs Further drilling and engineering study OTHER Permits Generative Projects – Q2 2008

26 Conclusions Driving towards multiple production plans P1- 90,000 to 100,000 ounces/yr 4E target Platinum Group Metals share production target Start up 2010 P2 – 50% of similar scale to Platinum Group P3 – adds to potential profile Shallow ounces at good grades, low chrome content have strategic advantages Electrical power can be generated Many Milestones in the near term Low number of shares outstanding

27 Contacts Platinum Group Metals Ltd Suite 328 – 550 Burrard Street Vancouver, BC V6C 2B5 +1604-899-5450 Platinum Group Metals RSA (Pty) Ltd Technology House Victory Park +27 11 782 2186

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