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Platina Resources halts trade in securities on US acquisition news

The company expects to unveil its JV opportunity by Thursday.

Platina Resources Ltd -
The ASX trading halt is expected to be lifted by Thursday morning

Platina Resources Limited (ASX:PGM) (FRA:P4R) (OTCMKTS:PTNUF) has called a halt on trade in its securities as it gets ready to announce a minerals joint venture opportunity it can pursue in the US.

The company described the potential new venture as a “material new joint venture opportunity.”

A trading halt on its securities is expected to remain in place until start of trade this Thursday, August 29, 2019.

Platina is headed up by minerals economist Corey Nolan who has more than 25 years’ experience funding, exploring and developing resources projects.

The company’s corporate strategy is to advance exploration projects with drilling, resource estimation and investigative studies and acquire undervalued or unrecognised assets with strategic improvement potential.

Flagship project

Platina's flagship project is the $234 million high-grade Platina Scandium Project, New South Wales.

The company hopes to secure production offtake agreements for its namesake project as it picks up regulatory approvals and secures project financing.

Another Platina project is the Danish territory of Greenland and is known as Skaergaard.

An independent scoping study is being prepared for the wholly-owned Skaergaard Gold and Palladium Project, given significant increases to the price of palladium over the past five years.

Once the study is published, Platina will consider its options.

Quick facts: Platina Resources Ltd

Price: 0.05 AUD

ASX:PGM
Market: ASX
Market Cap: $20.2 m
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