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Squirrel AI Learning organizes Workshops at the ASU+GSV Global Educational Technology Summit for an In-depth Discussion on the Development and Future Innovation of AI+ Education

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Lately, the tenth ASU+GSV Global Educational Technology Summit was held in San Diego, CA, USA. Co-founded in 2010 by the Arizona State University (ASU) and Global Silicon Valley (GSV), the ASU+GSV Summit aims to improve learning and career outcomes by promoting innovations on a large scale. It is a high-level grand event on educational technology in the USA and even the world.

Derek Haoyang Li, the founder of Squirrel AI Learning by Yixue Group, was invited to attend this year’s ASU+GSV Summit, where he made comprehensive discussions on educational technology innovations with more than 4,500 educational technology experts from all over the world. The Squirrel AI Learning team organized two workshops during the summit for an in-depth discussion on the future development and innovation of AI+ education with other participants at the ASU+GSV Summit.

AI Education Standardization

The first workshop was held to discuss the opportunities for standardization of AI in education based on the IEEE’s adaptive instructional system.

The attendees of the workshop include:

  • Richard Tong, Chief Architect of Squirrel AI Learning;
  • Bob Sottilare, Chair of IEEE AIS Workgroup, Science Director, Intelligent Training at Soar Tech
  • Avron Barr, Chair of IEEE Learning Technology Standards Committee
  • Robby Robson, Member of Board of Governors IEEE Standards Association (IEEE-SA) and former Chair of IEEE AIS Workgroup, Science Director, Intelligent Training at Soar Tech

At the workshop, the four speakers presented and discussed the current status of the IEEE-related adaptive instruction system, including its design, standardization and best practices. They analyzed the opportunities for applying standardization components and procedures, including AI adaptive learning technology, AI-based recommendation engine and a machine learning-based system used to simulate students’ interactions and preferences to improve their learning outcomes, to the AI education system.

Richard Tong: AI redefines the Education Industry

As an addresser, Richard Tong, chief architect of Squirrel AI Learning, gave a speech on the significance and implications of applying AI to education.

In Richard’s view, educational technology influences the industry in the following four technical aspects:

  1. Substitution, like a transition from the blackboard to the whiteboard;
  2. Enhancement, with a technology replacing something existing;
  3. Modification, with learning paths offered, such as behavior or project-based learning
  4. Redefinition.

Richard further explained, “In our opinion, what AI is to do is redefine. Redefinition means that we are actually changing the educational paradigm, and the whole process has in effect been changed. Therefore, we don’t aim to develop a learning model like an assembly line, but to make an individualized model that is truly extendable. We have seen in our work the significance of AI to education, and that’s why we have come with all commitments for standardization. ”

According to Richard, the successful implementation of AI calls for four elements: business model, professional knowledge, data and computing. Computing power is a broad concept, reflected not only in the number of GPUs and cloud services, but also in stacks and basic computing facilities.

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Robby Robson: Why must the adaptive instructional system (AIS) be standardized?

Robby Robson, Member of Board of Governors of IEEE Standards Association (IEEE-SA) and former Chair of IEEE AIS Workgroup, gave a speech on the significance and implications of standardizing the AIS.

According to Robby, there are three important goals of standardization.

  1. To reduce the friction in the supply chain. From a perspective of business, standards can cut down consumption costs and stimulate producers to make innovations. All innovations and paradigm shifts can be promoted with standardization.
  2. To help the industry better identify the quality of technology. Due to its very high popularity, the word AI has become a marketing hype. Bob Sottilare criticized many education providers for exaggerating the role of AI, and pointed out that they just regarded AI as a tool for contextual marketing.
  3. To provide baselines for research and analysis.

Robby also gave a brief presentation of the background of IEEE. As a huge global organization, IEEE has more than 450,000 members and many associations for different discipline categories. Robson’s employer IEEE-SA is a global agency made up of more than 7,000 members and more than 300 corporate members. IEEE-SA focuses on industrially recognized standards, and it is concerned about their application to the market and market interdependence, and provides relevant legal and ethical protection.

Avron Barr: The key to the implementation of AI lies in data reorganization and integration

Avron Barr, Chair of IEEE Learning Technology Standards Committee, gave a speech on the data of the AIS. He said, “The market must adjust itself to make the AIS and other AI AI-enhanced products economically viable, but the key issue is: where is the data required for all these AI systems?”

To support an open, AI-based ecosystem, the whole society must build new basic facilities to recollect, share and integrate data. The data comes mainly from five main areas: identity management (personal information), qualifications (capabilities), history (what was done in the past, and what needs to be done subjectively), activity data (e.g., the information on social media, geographical information, etc.), and content. All relevant data owners, such as schools, governments, school districts and businesses, need to get involved to share their data with others to form a large-scale database.

According to Avron, the IEEE Learning Technology Standards Committee has got involved in the establishment of many standards, including the SCORM (Sharable Content Object Reference Model) ten-year update, xAPI 2.0, student data governance and federal machine learning.

Bob Sottilare: Adaptive System Standards and Practices

The adaptive system is a computer-based program that can be used to guide learning in accordance with every learner or team’s objective, demand and preference. It recommends an intelligent tutoring system, intelligent instructor and intelligent medium.

As the Chair of IEEE AIS Workgroup, Bob welcomed educators to his work to develop conceptual approaches, set interoperability criteria and recommend practical methods to teachers.

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At the workshop, Richard Tong introduced some of the activities and conferences on AI and education to be held this year:

ICICLE 2019 (2019 ICICLE Conference on Learning Engineering) will be held in Ellington, Virginia from May 20th to May 23rd. The conference will focus on learning engineering, make an in-depth discussion on learning, knowledge-based learning experience design, learning conditions and support technologies, and touch upon how the emerging learning engineering can solve the issues of privacy and personalization.

AIAED 2019 (2019 Artificial Intelligence + Adaptive Education) will be held in Beijing from May 24th to 25th. This international forum, held for academic researchers and industry leaders, will focus on AI and other important technologies applied to the next generation of education and how these technologies will influence human adaptive learning.

AIED 2019 (International Conference on Artificial Intelligence in Education), will be held in Chicago from June 25th to 29th. Themed by “Education for All People in the 21st Century”, and the conference will focus on how AI and advanced technologies can be used to implement equal education among all people.

IJCAI 2019 Workshop: AI-based multi-modal analysis, used to understand human learning at realistic educational environment workshops.

Knowledge Structure-based AIS

The speaker at the second workshop was Dr. Dan Bindman, Chief Data Scientist of Squirrel AI Learning.

Dr. Bindman graduated from Mathematical Behavioral Science Institute, University of California-Irvine with a doctor’s degree in 2002. Later, he joined ALEKS, a leading provider of online adaptive learning in the USA, concentrating on mathematics and chemistry, and became the editorial director and chief architect of ALEKS math products. He joined Squirrel AI Learning in 2018.

Dr. Dan Bindman’s speech was titled “Understanding the Advantages and Disadvantages of the Knowledge Structure-based Adaptive Instructional System, and New Ways to Address the Disadvantages” and divided into two parts:

First, he pointed out the advantages and disadvantages of the knowledge structure-based adaptive learning model, and expounded the knowledge point structure and knowledge point state, as well as their differences and the logical links in the knowledge point structure.

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Then, he highlighted the PKS optimization model he had developed. Composed of multi-layered student ability groups and more than 20,000 model parameters, the PKS model can accurately judge individual students and groups’ real-time learning status and provide personalized learning content for each of them. It can remove the weaknesses of many similar systems with all their advantages retained.

What is a knowledge structure?

A knowledge structure is essentially a bridge among all problems in a course. For example, a typical algebra course may contain 500-1,000 problems (i.e., “knowledge points”). One problem may involve an “equation”, while another may involve the “calculation of a slope”.

Problems that are highly related to each other can be linked together. If all such problems are linked together in one course, they can form a knowledge structure, which plays a key role in effectively assessing students’ knowledge and learning capacity.

What is a knowledge state?

Students’ knowledge states can be expressed as a vector that represents the knowledge or their mastery of all problems in a course. It is worth noting that Students’ knowledge states are binary for all problems, i.e., “known” or “unknown”, or seen as “1” or “0”.

For example, a course contains 1000 problems, and students’ mastery of knowledge can be expressed as {0,1,1,……,1,1} through the vector.

What’s the relationship between the knowledge states and knowledge structure?

It depends on whether there is a connection among different problems. Dr. Bindman enumerated two extreme possibilities: “completely unconnected” and “completely interconnected”.

Suppose there are 3 problems in a course. If the problems are completely unconnected, the likelihood that a student masters these problems is equal to “3 squared”, i.e., 8, ({0,0,0}, {0,0,1}…{1,1,1}).

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However, if the three problems are interconnected with difficulty increasing progressively, it means that the student will have little difficulty solving easy problems if he overcomes the difficult problem. The number of his knowledge points can be reduced to 4: ({0,0,0}, {1,0,0}, {1,1,0}, {1,1,1}).

By analogy, we can guess that there will be fewer knowledge states if problems are more interconnected; on the contrary, there will be more knowledge states if problems are less interconnected.

So Dr. Bindman asked another question: how many questions do you need to ask to understand a student’s knowledge states?

Based on the above conclusion, if problems are completely unconnected, you need to ask 1,000 questions to get the answer; on the contrary, if problems are related to each other with difficulty increasing progressively, you just need to ask 10 questions: Ask the 500th question first. If the student gives a correct answer, continue to ask him a more difficult ones: the 750th; if he fails to give a correct answer, continue to ask him an easier one selected from the medians.

How to apply the knowledge structure to adaptive learning?

In view of Dr. Bindman’s introduction, the knowledge structure links different problems together, and a student must master some essential knowledge before beginning to learn a particular problem. Besides, the knowledge structure can greatly reduce the number of questions asked to assess the student’s mastery of knowledge. Of course, an issue will therefore arise: the knowledge structure must contain a lot of connections if it is used to assess a student’s knowledge states.

The connections can also be divided into different types: logical connections and experiential connections. The former is based on the logical relationship among problem contents; the latter is based on the correlation of probabilistic data among problems. The above is a conclusion drawn based on data collected. For example, a student who can solve problem A can also solve problem B. That’s an experiential connection.

Why is an experiential connection important? This is because logical connection features sparse data, and you don’t have enough experts to do manual annotations. An experiential connection can generate a lot of data, although problems still arise, because some experiential connections are inconsistent in sequence with textbook knowledge.

Another challenge posed by the knowledge structure comes from forms of curriculum. If a student guesses right a lot of questions, there will be something wrong with the knowledge structure-based assessment. Relatively speaking, the knowledge structure is applicable to courses in mathematics, chemistry and physics because there are many fill-in questions in such courses; on the contrary, it does not apply to courses in Chinese or English due to a large number of choice questions.

The last challenge comes from nature of the knowledge structure itself. Mastering knowledge is not absolutely a binary problem. For some knowledge, you can solve problems even if you just master 80% or 60% of it. In this case, the knowledge structure cannot accurately assess whether you have mastered the relevant knowledge points.

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In summary, Dr. Bindman drew the following conclusion: in the adaptive learning area, the knowledge structure can be a very powerful tool, but there remain lots of difficulties to overcome:

  1. There must be enough connections that can be used to assess students’ knowledge states, and a large amount of data needs to be collected for specific group of people;
  2. For some users, there may be something wrong with the experiential connections in the database because its learning process is inconsistent in sequence with students’ learning process and the teaching process in the textbook;
  3. The knowledge structure does not apply to multiple-choice questions, so many courses are basically excluded;
  4. Finally, the knowledge structure has limited capabilities in prediction, and both knowledge and connections are binary, while there is no intermediate zone.

To solve these problems, Dr. Bindman has designed a model: PKS.

What is PKS?

PKS is an abbreviation for Probabilistic Knowledge State. Compared with the binary system, expressed as “1” or “0”, Dr. Bindman suggested expressing a student’s knowledge states with the probability of answering every question correctly at a specific time, such as {0.29, 0.87, 0.63, 0.74……}.

Any student’s PKS at any time is entirely determined by his ability in the “knowledge channel”. The knowledge channel is a pure mathematical structure during model fitting. Dr. Bindman said that he didn’t know what they represented, but after fitting, researchers could be inspired after getting to know that for a problem, which channels were very important, while which were not.

Dr. Bindman said, “You know that the knowledge channel is a block box, i.e., you don’t know how it works internally. In a sense, it’s similar to principal component analysis.”

PKS is determined by three variables: students’ ability A(t) to answer questions within the prescribed time t; question weight W(q), i.e., the correlation of the question to the knowledge channel; question core C(q), which can be understood as Bias. The value of PKS is PKS(q) = Phi[A(t)xW(q)+C(q)]], where “Phi” is a normal cumulative distribution function; “.” represents vector dot product.

This method can enable you to apply this formula to all problems at any time. You can make parallel use of this equation within time t in order to gain complete PKS for all problems at any time.

Another advantage of PKS is that students’ learning history can be fully used. When a student starts a course, he has to develop all his abilities from scratch; as he keeps learning, the model will adjust its parameters by reference to his learning history and then make a more accurate assessment of his abilities.

According to Dr. Bindman, Squirrel AI Learning by Yixue Group has started applying the PKS model to middle school mathematics teaching.

SOURCE Squirrel AI Learning

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DIGITAL NEWS PLATFORM MONIIFY TO DELIVER BUSINESS AND FINANCE CONTENT FOR MILLENNIALS AND GEN-Z IN EMERGING MARKETS

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November 19, 2024

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Founded by serial entrepreneur Naguib Sawiris, MONIIFY aims to empower the next generation of entrepreneurs and investors to make smarter money moves by providing insights and analysis on high-potential regions and sectors, including tech, AI, cryptocurrency, and energy.

DUBAI, UAE, Nov. 19, 2024 /PRNewswire/ — MONIIFY (moniify.com), a digital news platform for Zillennials, founded by businessman and entrepreneur Naguib Sawiris, will launch on November 26, 2024.

 

 

Set to become the go-to platform for entrepreneurs, investors and professionals hungry for knowledge, wealth, and financial freedom in the world’s fastest-growing economies, MONIIFY will provide fresh, bold and insightful business and finance news content.

Based in the UAE and with a global outlook, MONIIFY will spotlight emerging markets with a focus on the industries driving the future – from tech and AI to crypto and energy. Covering everything from the GCC’s tech-driven initiatives to the rapid growth in Southeast Asia and India’s dynamic economy, MONIIFY is designed to keep the next generation of leaders ahead of the game.

“Young people today need more than traditional business and finance news. MONIIFY speaks directly to the next generation of entrepreneurs, in their language, on the platforms they want,” says Chairman and renowned businessman, Naguib Sawiris. “Young people always ask me ‘what is the secret to success?’ – that is my motivation for MONIIFY, to be the formula for them to achieve their dreams.”

Dr Yaser Bishr, Advisor to the Chairman, leading the launch of MONIIFY echoes this, “Western media giants view emerging markets through a Western lens. Emerging markets, home to over 4.3 billion people with a median age of 34, have their own unique stories to tell. These markets accounted for 50.1% of global GDP in 2023 and a staggering 66.7% of global GDP growth over the past decade. MONIIFY is here to change the narrative – a platform by Zillennials, for Zillennials..”

Uncover the next big thing from emerging markets first

From daily essential updates on the latest in crypto and tech markets to breaking down investment trends and business opportunities and in-depth conversations with some of the most successful and influential entrepreneurs, MONIIFY will provide exclusive access to the strategies behind success. The platform will feature Zillennial-friendly formats, including short videos, explainers, and deep-dive interviews. A masterclass series will unlock access to the biggest names in business sharing their blueprint for success.. MONIIFY’s newsroom will exclusively cover crypto, markets, tech and wealth in emerging markets, led by an accomplished team of international business journalists.

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“We have brought together the best media talent from international markets as well as emerging markets who believe strongly in the MONIIFY movement, and who represent our brand,” says CEO, Michael Peters, former CEO of Euronews.

MONIIFY Creators, brings together trusted voices in financial content, including Eisa AlHabib (UAE), Uptin Saiidi (USA), Anushka Rathod (India), Felicia Putri Tjiasaka (Indonesia), Osamah Essam El-Din (Saudi Arabia), and Sara & Aaron Wee aka The Weeblings (Singapore).

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CONTACT: Burson (PR Agency); [email protected]

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J.F. Lehman & Company adds three members to Operating Executive Board

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November 19, 2024

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors, is pleased to announce the appointments of Admiral Michael Gilday, the Honorable Kenneth Braithwaite and Mark Russell to its Operating Executive Board (“OEB”).  JFLCO’s OEB is a group of senior executives and general and flag officers with deep expertise in the firm’s target markets.  Through broad relationships and unique expertise, OEB members contribute to sector-specific strategy development, investment origination, due diligence and portfolio company oversight and support.

Admiral Michael Gilday served more than 38 years as a Surface Warfare Officer before retiring from the U.S. Navy in October 2023 as the 32nd Chief of Naval Operations and a member of the Joint Chiefs of Staff. His experience encompasses assignments in the White House, NATO, U.S. Cyber Command, and the Pentagon, including senior positions on the Joint Staff. Operationally, he has led at every level including command of two guided missile destroyers, a destroyer squadron, a carrier strike group, and U.S. Fleet Cyber Command.  Admiral Gilday graduated from the U.S. Naval Academy. He also earned master’s degrees from the Harvard Kennedy School and the National War College.

The Honorable Kenneth J. Braithwaite of Pennsylvania served as the 77th Secretary of the Navy from 2020 to 2021. Previously, he served as U.S. Ambassador to the Kingdom of Norway from 2017 to 2020. Ambassador Braithwaite served for 31 years as a U.S. Naval Officer retiring as a Rear Admiral. He is the first U.S. Navy flag officer to be confirmed as the Secretary of the Navy. While serving in that role, Ambassador Braithwaite led the Department through COVID-19, maintaining readiness while protecting the services personnel. Ambassador Braithwaite serves on the boards of Tritium and Atom Computing. He serves additionally as a Fellow of the NATO School, Oberammergau, Germany and as an Adjunct Professor at Kristiania University in Oslo, Norway. He is a graduate of the U.S. Naval Academy and later earned a master’s degree from the University of Pennsylvania.

Mark Russell has extensive technological leadership experience in aerospace and defense. Most recently, he served as Chief Technology Officer for RTX where he guided the company’s overall technological vision and strategy, including its engineering operations, investments in research and development, and companywide product safety and product cybersecurity programs.  Mr. Russell served in engineering and leadership positions at RTX and its predecessors for over 40 years.  He has published 16 peer-reviewed papers and holds 36 patents.  He was elected to the National Academy of Engineering in 2020 for his leadership in developing radar systems for enhanced national security and safety. He has been appointed to the Defense Science Board and has been named a fellow by both the American Institute of Aeronautics and Astronautics, and the Institute of Electrical and Electronics Engineers. Mr. Russell holds a master’s degree in electrical and computer engineering from the University of Massachusetts Amherst, a bachelor’s degree in electrical engineering from the University of Massachusetts Lowell and an honorary doctorate in engineering from the University of Massachusetts Amherst. 

“We are thrilled to welcome Michael, Ken and Mark to J.F. Lehman as a key members of our Operating Executive team,” said Steve Brooks, Partner with JFLCO.  “We believe the breadth of their expertise across our core defense and aerospace markets, along with decades of leadership experience at the highest levels within the Defense Department and prime contractors, will be invaluable. Their expertise will help guide our strategy and support our portfolio companies as we increase our emphasis on technology-driven companies with high growth potential in our primary sectors,” added Alex Harman, Partner with JFLCO.

About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com

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Key Metals Surge, Unlocking New Opportunities for Savvy Mining Investors

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November 19, 2024

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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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View original content:https://www.prnewswire.co.uk/news-releases/key-metals-surge-unlocking-new-opportunities-for-savvy-mining-investors-302309799.html

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