Bloomberg reported that according to Jianke Gao, CEO of Wesizwe Platinum Ltd. (OTCMKTS:WSZWF), the company is considering selling its minority stake in Platinum Group Metals Ltd.’s (TSX:PTM,NYSEMKT:PLG) Maseve mine.
As quoted in the market news:
‘The Maseve project is not aligned with our strategy,’ Gao said in a Feb. 21 interview at Wesizwe’s Johannesburg office. ‘Our priority is to build up the Bakubung project on time and on budget, or to reach full production earlier.’
In the case of a sale of its stake in Maseve, Vancouver- based Platinum Group Metals would need to find another partner to meet its legal obligation to ensure black shareholders own at least 26 percent of the asset