Platinum Group Metals (PTM) Q4 2024 earnings summary

Executive summary

• Focused on advancing the Waterberg Project in South Africa, targeting a large, mechanized, shallow PGM mine with by-product copper and nickel production.

• Near-term objectives include development decision, construction financing, and concentrate offtake agreements.

• Also advancing battery technology initiatives using platinum and palladium in lithium batteries through Lion Battery Technologies.

Financial highlights

• Net loss for the year ended August 31, 2024, was $4.58 million, compared to a net loss of $5.66 million in 2023.

• General and administrative expenses decreased to $3.42 million from $3.89 million year-over-year.

• Share-based compensation was $1.36 million, down from $1.98 million in the prior year.

• Finance income for the year was $0.44 million, compared to $0.58 million in 2023.

• Basic and diluted loss per share was $0.05, compared to $0.06 in the previous year.

Outlook and guidance

• Primary objective is to advance the Waterberg Project to a development and construction decision.

• Assessing commercial alternatives for mine development financing and concentrate offtake, including discussions with South African smelter operators.

• Investigating smelting and refining options in Saudi Arabia and continuing battery technology research through Lion.

• Engaged with local communities to optimize mine development outcomes.