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VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwire - Aug. 2, 2011) - Platinum Group Metals Ltd. (TSX:PTM)(NYSE Amex:PLG) ("Platinum Group" or the "Company") is pleased to announce it has entered into a mandate letter with Barclays Capital, the investment banking division of Barclays Bank PLC (together with its affiliate Absa Capital the corporate & investment banking division of Absa Bank Limited), The Standard Bank of South Africa Limited, West LB AG and Caterpillar Financial SARL for a US $260 million project finance loan to develop the Western Bushveld Joint Venture Project, "WBJV" 1 Platinum Mine. The proposal has preliminary approval of each of the proposed lenders but is subject to due diligence, final credit approval and execution of a loan agreement. |
