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Black empowerment vehicle ups PTM stake

South African black empowerment investment vehicle Hosken Consolidated Investments (HCI) has acquired more than two million common shares of Vancouver-based developer Platinum Group Metals (TSX:PTM).

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Platinum Group Metals has received a useful cash top-up for its Waterberg project in South Africa

The transaction, at US$1.33 for total investment of $2.8 million, brings HCI's total holdings in PTM to more than 6.5 million, or 19.89%.