Platina Resources' strategic investments offer exposure to exploration success

Platina Resources Ltd (ASX:PGM)'s diversified exploration investments portfolio is now valued at A$19.5 million and offers exploration upside through upcoming drill programs. As well as making progress with its own early-stage metal projects through exploration, feasibility, permitting and into development, Platina also has a range of strategic investments in other resources companies. These include Canadian companies Major Precious Metals Corp and Blue Moon Metals Inc as well as Australian company Nelson Resources Ltd (ASX:NES). Strategies align Platina managing director Corey Nolan said Platina’s investment strategy was in close alignment with its corporate strategy of targeting project opportunities at an early stage and adding value through geophysics, drilling and feasibility and advancing towards development. He said: “Platina’s Australian assets together with our exploration investment portfolio, which covers gold, platinum and palladium, offers our shareholders exposure to a broad range of metals across a number of jurisdictions at different stages in the exploration lifecycle. “While our investments have shown healthy returns this year there’s a strong pipeline of news flow ahead from current and planned drilling programs. “Platina’s strategy to slowly divest its investments over time to fund its gold exploration activities in Western Australia will enable the company to maintain a very tight share capital structure without diluting shareholders.” Major Precious Metals Out of the total A$19.5 million value of Platina’s strategic investments in other resources companies, Major Precious Metals accounts for more than 95%. The current value of Platina’s 49 million shares in the Canadian stock exchange-listed company is around A18.9 million. Major has recently completed a C$10 million capital raising to fund a planned 12,500-metre drilling program at the Skaergaard palladium, gold and platinum deposit in Greenland. This drilling is expected to begin in August and follows an upgrade to the NI 43-101 resource outlined in May this year and a record of over US$3,000 per ounce for palladium in February. Skaergaard, which was sold by Platina to Major, is one of the world’s largest palladium deposits outside of South Africa and Russia. Blue Moon Mining Platina has 6 million shares in Canadian-listed Blue Moon Mining and this is currently valued at around A$320,000. Blue Moon recently completed a C$1.2 million capital raising and signed a contract for drilling its prospective volcanogenic massive sulphide deposit in the United States. The company is looking to expand its existing NI 43-101 resource, which is rich in zinc, gold and silver, and expects drilling to start in August. Nelson Resources Platina also has 6 million shares in ASX-listed Nelson Resources and this investment is valued at A$30,000. Nelson is currently completing a A$2 million capital raising to continue funding its drilling programs on prospective greenstone belts southeast of Kalgoorlie in Western Australia. NES controls more than 1,700 square kilometres of ground prospective for gold and nickel.