Platina Resources Strengthens Cash Reserves

Platina Resources Limited (AU:PGM) has released an update.

Platina Resources Limited has bolstered its financial position with a A$6 million payment from Rio Tinto as part of an ongoing deal for the Platinum Scandium Project, following a previous A$10.8 million cash payment. The company’s strong cash reserves of approximately A$13 million will fund further exploration without shareholder dilution, with recent drilling at the Beete Gold Project promising over 2,000 assay results soon. Platina’s exploration activities in Western Australia continue to show promise, including a significant find of oxide gold mineralisation at the Xanadu Project.

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