Wesizwe Platinum has confirmed that the feasibility study for its Frischgewaagd-Ledig mine project in the North West province has been completed.

The junior producer of the precious metal expects the mine to deliver 230,000 tonnes per month and an average of 350,000 PGM oz per year when steady state production is reached in 2016.

Jacob Mothomogolo, Assistant Project Manager at construction partner TWP, told Mining Weekly: "The proposed project strategy is to only use tried and tested technology, since this is Wesizwe's first mining venture."

http://www.miningweekly.com/article.php?a_id=147374

Platinum Group Metals Ltd has divulged funding details for its key WBJV project after releasing its audited financial results for the year to 31st August, 2008.

Over the course of the year, the company raised almost $1.5 million through issuing 850,000 shares for the exercise common share purchase warrants and $821,824 through the issue of 760,500 shares for the exercise of stock options.

The exploration and development drive - which covers around 72 km sq on the Western Bushveld Complex in South Africa - will see Platinum Group control 74 per cent of the WBJV Projects 1 and 3.

The remaining 24 per cent will be controlled by Wesizwe Platinum, which will also assume 100 per cent control of Project 2, as long as the term sheet is fully approved and agreements are completed.

http://www.marketwire.com/press-release/Platinum-Group-Metals-Ltd-TSX-PTM-926332.html

A senior figure at Geosearch has revealed this month that the credit crunch is beginning to have a significant impact on the company's exploration expenditure.

Chief Operating Officer Buster Shipster confirmed that 30 of the firm's 125 drilling rigs are currently disused, although he added that 85 per cent of its South African exploration work is still progressing at present.

In an interview with Mining Weekly, he described the next six months as "quite a challenge" but stated that there were no plans to lay off any of its 1,000-strong workforce.

http://www.miningweekly.com/article.php?a_id=148948

Wallbridge Mining Company and Lonmin have announced that they have approved C$1.5 million worth of funding for the 2009 work on Sudbury Camp Joint Venture.

The money will help offer around 3,700m of diamond drilling between 1st October, 2008 and 30th September, 2009 as the two parties explore for platinum group metals.

"We are very pleased that Lonmin is again participating in our exploration efforts in Sudbury", commented Alar Soever, President of Wallbridge. "This will allow us to further advance these properties, in spite of the current difficult economic environment."

http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/12-08-2008/0004938033&EDATE=