NetworkNewsWire Editorial Coverage

NEW YORK, Nov. 19, 2024 /PRNewswire/ — Investment interest in the mining space is growing, driven by increasing demand for a wide range of metals that are becoming essential to modern industries. The push for clean-energy technologies, such as electric vehicles (EVs) and renewable energy systems, has amplified the need for critical minerals such as lithium, cobalt, nickel and rare earth elements. Meanwhile, traditional metals such as copper and aluminum are experiencing a resurgence due to their critical role in infrastructure and energy transmission. Gold and silver, as traditional stores of value, remain attractive amid economic uncertainties and inflationary pressures. Finally, the global transition toward decarbonization and energy efficiency is fueling demand for platinum group metals (PGMs), which are known for their purity, high melting points and unique catalytic properties. PGMs are vital in a number of industrial processes, technologies and commercial applications and play a critical role in autocatalysis and pollution control in the automotive sector. With potential supply constraints from key producing countries and geopolitical risks further tightening markets, mining companies are poised for growth. Platinum Group Metals Ltd. (NYSE: PLG) (TSX: PTM) (Platinum Group Metals Profile) is positioning itself as an emerging leader in the PGM sector through its flagship Waterberg Project in South Africa. Other mining and commodity related entities, including Sibanye Stillwater Limited (NYSE: SBSW), VanEck Junior Gold Miners ETF (NYSE: GDXJ), abrdn Physical Palladium Shares ETF (NYSE: PALL) and iShares Silver Trust (NYSE: SLV), are also seeing increased investor interest.

• Several key factors have contributed to an improvement in the PGM demand outlook.
• Platinum Group Metals is dedicated to meeting the growing need for platinum and palladium through its flagship Waterberg Project.
• The company recently released positive results from an Independent Definitive Feasibility Study Update for the Waterberg Mine.

View the infographic of the Platinum Group Metals editorial here (https://www.nnw.fm/LPsVQ)

Improved Industry Outlook

The platinum group metals industry includes six key metals: platinum, palladium, rhodium, ruthenium, iridium and osmium. Renowned for their catalytic properties, high resistance to corrosion, and excellent electrical conductivity, PGMs play an essential role across various sectors, including automotive, electronics, and healthcare. Despite earlier concerns that the rise of battery electric vehicles (BEVs) would diminish the demand for PGMs, the industry outlook has improved significantly due to several factors.

A Rebound in Auto Demand for Platinum and Palladium: The automotive sector remains a cornerstone of PGM demand, particularly for platinum and palladium, which are critical in catalytic converters for internal combustion engine (ICE) and hybrid vehicles (https://ibn.fm/FRD99). While BEV adoption initially posed a threat, faltering BEV sales have led to a resurgence in ICE and hybrid vehicles, bolstering demand for PGMs. This shift underscores the continued relevance of PGMs in emissions reduction, even as the industry evolves toward greener technologies.

Supply Risks from Russia: Russia is the world’s largest producer of palladium, accounting for a substantial share of global supply. However, geopolitical tensions and potential sanctions on Russian exports pose significant risks to the palladium market (https://ibn.fm/GBDd8). Such uncertainties could lead to supply shortages and higher metal prices, benefiting producers outside of Russia.

South African Supply Constraints: South Africa dominates the global production of platinum and rhodium. However, ongoing challenges such as energy shortages, labor disputes and operational inefficiencies have led to production cutbacks (https://ibn.fm/7IC7a). Many of the conventional platinum and palladium mines are old, deep, and expensive to operate. Safety is a concern. These supply constraints add another layer of support to PGM prices, reinforcing their strategic importance.

Investment Demand for Platinum: Amid global economic uncertainty and geopolitical tensions, investors are turning to precious metals as safe-haven assets. Platinum, in particular, has garnered interest alongside gold and silver (https://ibn.fm/WyVRW). This trend highlights the dual role of PGMs as both industrial and investment commodities, enhancing their appeal in volatile markets.

A Key Player

Keenly aware of the growing interest in the PGM space, Platinum Group Metals is dedicated to meet the growing need for these metals, specifically through its flagship Waterberg Project, which is located in South Africa. This project, which Platinum Group Metals Ltd. initially discovered in November 2011, focuses on palladium, platinum, rhodium and gold, leveraging the company’s expertise to meet the growing demand for PGMs.

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The Waterberg Project (https://ibn.fm/i6X2y) is a joint venture between Platinum Group; Impala Platinum Holdings Ltd. (Implats); HJ Platinum, which consists of Japan Oil, Gas and Metals National Corporation and Hanwa Co.; and Black Economic Empowerment (BEE) partner Mnombo Wethu Consultants (Pty) Ltd. The project deposit is shallow, and the planned mine is designed as a bulk, mechanized, underground operation and aims to provide a safe, sustainable and scalable source of PGMs.

The Waterberg Project provides leverage to investors looking for PGM exposure. In particular, the project offers a distinctive competitive advantage based on its leverage to ounces in the ground, potential low-cost production, partnership with a major platinum producer and a Japanese consortium, and its relationship with a Saudi Arabia-based group seeking to build a PGM smelter in Saudi Arabia.

The World-Class Waterberg Project

Most recently, Platinum Group Metals released positive results from an Independent Definitive Feasibility Study Update (2024 DFS) for the Waterberg Mine. Highlights of the report note several key factors, including the following (https://ibn.fm/gD6EU):

• Increased Mineral Reserve Estimate: Proven and probable mineral reserves increased by 20% to 23.41 million 4E oz (246.2 million tonnes at an average grade of 2.96 4E g/t, 0.08% copper (Cu), and 0.17% nickel (Ni).
• Extended Life of Mine: LOM increased from 45 years to 54 years with annual steady state average production in concentrate of 353,208 4E oz. and peak annual production of 432,950 4E oz.
• Robust Economics: After-tax net present value at an 8% real discount rate of $569 million and an Internal Rate of Return of 14.2% using average long-term consensus metal prices as of May 2024.
• One of the Lowest Cost PGM Mines in Southern Africa: On site LOM average cash cost, including base metal byproduct credits and smelter discounts as a cost, of $658 per 4E oz, with an all-in sustaining cost of $761 per 4E oz.
• Strong Cash Flow Generation: LOM free after-tax cashflow of $6.50 billion at consensus prices.
• Reasonable Capital: Estimated total project capital of $946 million, including 8.5% for contingencies, and peak capital estimated at $776 million.

“The 2024 DFS validates the world-class nature of the Waterberg Project,” said Frank R. Hallam, Platinum Group president and CEO. “Engineering teams from Stantec, DRA and Fraser McGill have collaborated to achieve an optimized and de-risked mine plan while also minimizing capital requirements. The primary objectives of the 2024 DFS were to update and minimize capital and operating costs, and to simplify the construction, ramp up and operating profile of the Waterberg Mine.

“I believe these objectives have been achieved,” Hallam continued. “We look forward to advancing the Waterberg Project for the benefit of our partners and local communities, as well as all the people of South Africa. The Waterberg Project is planned to create approximately 2,000 jobs during construction and approximately 1,425 mostly high skilled jobs once steady state mining is achieved. PGMs, copper and nickel play key roles in automotive emissions control and energy transition technologies, including that found in battery electric, plug-in hybrid, gasoline hybrid and hydrogen fuel cell vehicles. The Waterberg Project is a long life asset capable of profitably producing these critical metals.”

Revolutionizing Storage, Diversifying Applications

Another component that sets Platinum Group Metals apart is PGM’s Lion Battery Research project, which is a collaborative effort with Anglo American Platinum to develop a lithium sulfur battery using PGMs, which could revolutionize energy storage and further diversify PGM applications (https://ibn.fm/jvSJN).

Platinum Group Metals founded Lion Battery Technologies in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications. “The possibility of creating additional demand for platinum and palladium in the battery technology space is an exciting development and of strategic importance to both parties,” the company notes. “Lion Battery has entered into an agreement with Florida International University to further advance a research program that uses platinum and palladium to unlock the potential of lithium air and lithium sulfur battery chemistries to increase their discharge capacities and cyclability.”

According to the agreement with the university, Lion will have exclusive rights to all intellectual property developed and will lead all commercialization efforts. Lion is also currently reviewing several additional and complementary opportunities focused on developing next-generation battery technology using platinum and palladium. Because lithium oxygen and lithium sulfur batteries have considerably higher energy density, they can perform better, by orders of magnitude, than the best-in-class lithium-ion batteries currently on the market or under development. “This new generation of lightweight, powerful batteries has the potential to grow to scale on the back of the attractiveness of battery electric vehicles and the use of lithium batteries in other applications beyond mobility,” the company has stated.

Opportunities

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The current mining environment presents opportunities for investors seeking exposure to sectors driving the future of energy, technology and infrastructure development. As demand continues to climb, mining investments are increasingly becoming a cornerstone of forward-looking portfolios. Many companies, including these, are focused on providing attractive investment options for those eyeing the mining space.

Sibanye Stillwater Limited (NYSE: SBSW) is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents (https://ibn.fm/yco9y). The group is also one of the foremost global recyclers of PGM auto catalysts and has interests in leading mine tailings retreatment operations. Sibanye-Stillwater is one of the world’s largest primary producers of platinum, palladium and rhodium and is a top-tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt.

VanEck Junior Gold Miners ETF (NYSE: GDXJ) is designed to replicate as closely as possible the price and yield performance of the MVIS(R) Global Junior Gold Miners Index, which is intended to track the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver (https://ibn.fm/YrVWC). The fund features a portfolio of small gold miners, some of which are in early exploratory stages with upside potential. The fund also provides high beta exposure to gold prices and is highly liquid, historically seeing greater average trading volume than any of its underlying junior miners.

abrdn Physical Palladium Shares ETF (NYSE: PALL) is an investment product offered by abrdn Investments. The fund is designed for investors who want a cost-effective and convenient way to invest in palladium with minimal credit risk (https://ibn.fm/YFHhH). abrdn Investments offers investment expertise across key asset classes, regions and markets so that its clients can capture investment potential wherever it arises. By combining market and economic insight with technology and diverse perspectives, abrdn Investments offers optimal ways to help investors navigate the future and reach their financial goals. And by putting environmental, social and governance (ESG) considerations at the heart of the process, the company also invests in a better future.

iShares Silver Trust (NYSE: SLV) is designed to generally reflect generally the performance of the price of silver (https://ibn.fm/cHmSf). The trust is designed to provide exposure to the day-to-day movement of the price of silver bullion while offering investors convenient, cost-effective access to physical silver as well as a way to diversify their portfolios and help protect against inflation. iShares has been a leader in the ETF marketplace for more than two decades, and as a part of BlackRock, its products are engineered by investment professionals with discipline and deep risk-management expertise

In summary, the PGM industry’s positive outlook is driven by a combination of rebounding automotive demand, geopolitical supply risks, and increased investment interest. Companies such as Platinum Group Metals Ltd. are well-positioned to capitalize on these trends, offering potential opportunities for investors seeking exposure to this dynamic and essential sector.

For more information about Platinum Group Metals, please visit Platinum Group Metals Ltd

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SEOUL, South Korea, Nov. 19, 2024 /PRNewswire/ –ShowPlus Chain (SHC2), the core token of the ShowPlus (Show+®) ecosystem, made a successful debut in the global cryptocurrency market with its listing on XT.COM. Despite its early stage, SHC2 has seen a remarkable surge in trading volume and garnered significant attention. Now, it is set to achieve another milestone with its second exchange listing on BitMart, scheduled for 7:00 AM GMT on November 20, 2024.

XT.COM Listing: A Promising Start for SHC2

The XT.COM listing marked a significant step forward for SHC2 in the global market. By bridging digital assets with real-world applications, SHC2 has delivered new value in diverse industries such as entertainment, e-commerce, accommodation, and banking & payment.

Following its XT.COM debut, SHC2 witnessed record-breaking trading volumes and growing community interest, highlighting its practical utility and growth potential. This strong performance serves as a solid foundation for a successful launch on BitMart.

BitMart Listing: A Key Milestone in Global Expansion

The upcoming BitMart listing represents a crucial turning point in SHC2’s growth journey. Scheduled for 7:00 AM GMT on November 20, 2024, this listing will provide SHC2 with access to a broader investor base and further strengthen its position in the cryptocurrency market.

Beyond BitMart, SHC2 has already secured plans to list on 2–3 major global exchanges, starting in December 2024. These strategic expansions will enhance SHC2’s global footprint and establish it as a leading digital asset in the cryptocurrency market.

SHC2: An Innovative Digital Asset with Real-World Utility

SHC2 goes beyond being a mere digital asset; it plays a central role within the ShowPlus ecosystem. By supporting prize distribution, sponsorships, and transparent financial transactions, SHC2 integrates seamlessly with platforms such as Show+Rich, Show+Bank, and Show+Trip, offering tangible benefits to its users.

Moreover, SHC2 leverages blockchain security and transparency to deliver real-world value in sectors such as entertainment, e-commerce, banking & payment, and travel, setting a new standard for digital economic solutions.

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Global Vision and Ecosystem Expansion

The BitMart listing marks a significant step in accelerating the expansion of the SHC2 ecosystem. With its growing platform, ShowPlus is prepared to connect with millions of users, offering blockchain-driven solutions across finance, travel, and entertainment.

Additionally, SHC2’s upcoming listings on major global exchanges will foster deeper connections with international communities, positioning it as a new benchmark in the digital asset market.

Join the Journey of Innovation

SHC2’s innovative journey has just begun. With the success of its XT.COM debut, the BitMart listing on November 20, 2024, at 7:00 AM GMT, and plans for major global exchange listings, SHC2 is rapidly growing and redefining the future of the digital economy.

For more information, visit www.showplus-chain.io. Join SHC2 to experience the next wave of digital economic innovation!

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LONDON, Nov. 19, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is thrilled to announce a groundbreaking global alliance with Banking Circle, a leading provider of next-generation banking services.

This strategic collaboration is set to dramatically enhance Wirex’s financial operations across the globe, empowering millions of users with cutting-edge banking solutions.

Under the cooperation, Banking Circle will provide a robust range of banking services that are crucial to Wirex’s continued global expansion and the enhancement of its financial ecosystem. These services will include:

• Global bank accounts for Wirex: Supporting the company’s global expansion by optimizing treasury operations and enabling more seamless management of fiat and digital currencies.
• New payment services to simplify user experience: Offering instant bank transfers and faster payment solutions, allowing users to send and receive funds effortlessly around the world.
• Settlement and FX solutions for Wirex: Facilitating smoother, real-time payment flows within Wirex’s expanding collaboration network.
• Liquidity management facilities: Ensuring the scalability and resilience of Wirex’s financial services as it grows its ecosystem globally.

By leveraging Banking Circle’s infrastructure, Wirex will deliver an enhanced, more flexible financial experience for both retail and business users worldwide.

“We are proud to work with Banking Circle, whose leadership in the global financial infrastructure space is unmatched,” said Svyatoslav Garal, Global Head of Payments at Wirex. “By expanding our capabilities and providing greater access to seamless financial solutions, we’re reinforcing our commitment to bridging digital and traditional finance. This collaboration is a natural step in enhancing our global platform to create a more efficient experience for everyone.”

Cindy Liu, Co-Head Global Account Management: “Working with Wirex is a key move in our goal to revolutionize global finance with efficient and transparent solutions. Wirex’s commitment to pushing the boundaries of fintech makes them the perfect fit to reach new heights in digital finance. By combining our strengths, we’re confident this collaboration will be a game-changer for global payments and financial services.”

This collaboration signifies a bold step forward for both Wirex and Banking Circle, uniting two industry leaders committed to revolutionizing the financial landscape. Together, they will unlock new opportunities in the global payments space, offering a seamless fusion of digital and traditional finance.

About Wirex

Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly.  As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.

| wirexapp.com |

About Banking Circle S.A. 

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Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low-cost payments with no hidden fees for the beneficiary. As a fully licenced bank, free of legacy systems, Banking Circle enables payments companies and banks of any scale to seize opportunities in the new economy – quickly, at low cost.  It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security.

Headquartered in Luxembourg, Banking Circle Group has branches in Denmark, Germany, the UK, the US, Singapore, Lichtenstein and Australia. For more information on Banking Circle, please visit www.bankingcircle.com 

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