History

May 13, 2010

Platmin successfully completes its $250 million capital raising by way of new equity and $135 million in convertible debentures

April 16, 2010

Conditional agreement signed to acquire a 10% stake in the Sedibelo project, adjacent to the Pilanesberg mine.

March 29, 2010

Platmin announces $100 million convertible debenture financing with new cornerstone investor Tamasek Holdings together with plans to raise up to $250 million in new equity.

January 14, 2010

The Pilanesberg mine plan is revised to allow for a build-up in annual production to 250,000 PGM ounces.

December 2, 2009

Platmin announces a change in its financial year-end from March 30 to December 31.

October 9, 2009

Platmin enters into a R400 million revolving commodity finance facility with Investec bank Limited. The facility will be sued to fund working capital

August 31, 2009

Platmin pays in full the outstanding balance of the bridge loan facility of US$51.987 million with The Standard Bank of South Africa Limited.

July 22, 2009

Platmin obtains secondary listing on the JSE Limited (JSE).

July 2009

First revenue from metal sales earned.

June 7, 2009

ESKOM successfully completes the second phase of power allocation at the Pilanesberg Platinum Mine. With this development, PPM has access to the full 37MVA of power originally applied for.

June 2009

Processing of material through the Merensky circuit commences.

April 1, 2009

Delivery of first concentrate to Northam.

March 2009

Processing of material through the UG2 circuit begins.

December 2008

Start of reef mining and the stockpiling of PGE-bearing ore at the Pilanesberg Platinum Mine.

December 9, 2008

Platmin announces $175 m equity finance to fund construction of the Pilanesberg Platnium Mines in preference to bank senior debt.

May 14, 2008

Platmin and The Standard Bank of South Africa Limited agree on a bridge loan facility of R350 m for the Pilanesberg Platinum Mine Project.

February 19, 2008

The mining rights for the Pilanesberg Platinum Mines project are approved by the DME (now the DMR).

January 31, 2008:

Platmin BEE partner Moepi consolidates BEE ownership in Boynton at 26.8%.

December 21, 2007:

Platmin announced the exercise of an over-allotment option by the syndicate of underwriters taking the total gross proceeds raised from the public and private placement announced on December 7, 2007 to C$92.8 million.

December 6, 2007:

Platmin completed a public offering and private placement raising gross proceeds of C$80,750,000. The offering was underwritten by a syndicate of underwriters jointly led by RBC Capital Markets and GMP Securities L.P., and including Haywood Securities Inc. The net proceeds will be used principally to advance development of the Pilanesberg Project.

October 2007:

Announced an increased Mineral Resource estimate for the Mphahlele project.

July 16, 2007:

Platmin announced the completion of a feasibility study on its Pilanesberg Project by SRK Consultants and the appointment of engineering firm Dowding Reynard and Associates (DRA) to oversee the design and construction of mine facilities noting that Open-pit production is expected to start in 2009.

July 2007:

The company announced an increased Mineral Resource estimate for the Grootboom project.

Between March 7, 2006 and May 15, 2006:

Platmin raised gross proceeds of approximately US$14.70 million in a rights issue to all shareholders.

December 19, 2005:

A major PGM producer made an offer to all the shareholders of Platmin to acquire all of the outstanding shares of the Company.

November 1, 2004:

A private placement for total gross proceeds of approximately US$10.00 million was completed.

September 1, 2004:

Platmin indirectly acquired a further interest in the Mphahlele Project from Ashanti Goldfields Cayman Limited, which raised Platmin’s indirect beneficial interest in that project to 57.4%.

November 10, 2003:

Platmin group company Tameng Mining & Exploration Holdings (Pty) Ltd. was granted a prospecting permit covering the Mphahlele Project.

July 29, 2003:

Platmin raised approximately US$13 million (gross proceeds) in a private placement through BMO Nesbitt Burns with CDC (Actis - investment fund of British Government), Africa Lion (Australian based fund) and North American clients of BMO Nesbitt Burns becoming shareholders.

January 2003:

Platmin entered into an agreement with Lonmin whereby Lonmin can maintain an option to acquire a 50% interest in Boynton's interest in the project by incurring certain expenditures.

1999:

The search and negotiation to acquire mineral rights began, principally through option agreements, on properties within the Bushveld Complex in South Africa.