PLATINUM GROUP METALS LTD Annual Report - How They Did This Year

Hey there, fellow investor! Let's take a look at how PLATINUM GROUP METALS LTD (that's PLG on the NYSE American) wrapped up its year ending August 31, 2025.

First off, they've filed all their necessary reports with the regulators, and their financial statements have been audited by independent accountants. They also have solid internal controls in place to make sure their financial reporting is accurate, and they adopted an Anti-Bribery Conduct Policy in December 2021 to strengthen their commitment to ethical business practices.

One of the big pieces of news this year is an update on their Waterberg project. They released a "Definitive Feasibility Study Update" for this project, effective as of August 31, 2024. A 2020 Work Program, funded by Implats, helped increase confidence in specific areas of this study, and they have an Amended Call Option Agreement with Implats related to this project.

Financially, the company has been active in the capital markets. As of the end of their fiscal year on August 31, 2025, the company had 112,571,113 Common Shares out there in the market. They also launched a 2025 "at-the-market" (ATM) equity program in December 2024, allowing them to sell up to $50.0 million worth of common shares over time. This program follows their 2024 Registration Statement and 2024 Shelf Prospectus.

While they follow Canadian reporting rules, their Annual Information Form (AIF) covers the general development of their business over the last three years, detailed descriptions of their operations, social and environmental policies, and the regulatory landscape in South Africa. They also dedicate significant sections to risk factors.

Key Takeaways:

• Governance & Ethics: The company maintains transparent reporting, audited financials, internal controls, and an Anti-Bribery Conduct Policy adopted in December 2021.
• Waterberg Project Development: A Definitive Feasibility Study Update for the Waterberg project was released, effective August 31, 2024, supported by a 2020 Work Program funded by Implats, and an Amended Call Option Agreement with Implats is in place.
• Capital Market Activity: As of August 31, 2025, there were 112,571,113 Common Shares outstanding. The company initiated a 2025 "at-the-market" equity program in December 2024, allowing for the sale of up to $50.0 million in common shares, backed by their 2024 Registration Statement and Shelf Prospectus.
• Comprehensive Reporting: Their Annual Information Form provides details on business development, operations, social and environmental policies, the regulatory environment in South Africa, and risk factors.