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Platinum Group Metals Ltd. Message Board

  • imconly imconly Feb 1, 2013 6:36 PM Flag

    From "Trading in America - Amplats to stop prod. at 4 mines

    Precious Metals

    Silver Lake Resources reported a record high fourth-quarter in gold sales totaling 28,123 oz., with interim sales reaching 52,410 ounces. The news comes on the heels of their recent $426 million merger with Integra Mining in which they announced plans to double the two companies combined production of 200,000 oz. a year to 400,000 oz. by 2014. (22) An increase in world demand has India expecting a nearly 30 percent jump in silver exports. (23) Anglo-American Platinum (Amplats) will be stop production in four South African mines, reducing production by 15 percent, or 400,000 oz. As a result, global supplies of platinum are projected to decline by at least 7 percent.

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