Platinum Group Metals posts MD&A for nine months ended May 31, 2026

Platinum Group Metals published its MD&A for the nine months ended May 31, 2026, with pre-production work continuing at the Waterberg Project.

Waterberg spending capitalized at USD 1.8 million; accumulated capitalized costs reached USD 55.2 million; total project spend since inception is about USD 92.9 million.

Work advanced on a staged development option via a T-Zone Study; drilling began in mid-June, collecting 398 kg from six boreholes for metallurgical testing.

Early site works restarted, including engineering for a temporary 22kV, 3MVA power supply; initial procurement covers borrow pits, roads, water and accommodation.

Outlook centers on securing financing and concentrate offtake or processing; alternatives include new smelting capacity in South Africa or a Saudi-linked processing route.