Platinum Group Metals (PTM) Q1 2025 earnings summary

Executive summary

• Reported financial results for the quarter ended November 30, 2024, with a focus on advancing the Waterberg Project in South Africa, targeting development and construction decisions, and progressing battery technology initiatives through Lion Battery Technologies.

• Waterberg Project is planned as a large, low-cost, mechanized underground PGM mine with by-product copper and nickel.

Financial highlights

• Net loss for the quarter was $1.84 million, compared to a net loss of $1.56 million in the same quarter last year.

• General and administrative expenses rose to $1.24 million from $1.09 million year-over-year.

• Stock-based compensation increased to $0.72 million from $0.46 million year-over-year.

• Finance income was $0.06 million, down from $0.14 million year-over-year.

• Basic and diluted loss per share remained at $0.02, unchanged from the prior year.

Outlook and guidance

• Primary objective is to advance the Waterberg Project to a development and construction decision, including securing concentrate offtake agreements and mine development financing.

• Ongoing discussions with South African smelter operators and Saudi partners for concentrate offtake and smelting options.

• Battery technology initiative through Lion Battery Technologies continues, aiming for vertical integration and new PGM demand.