Platinum Group Metals Ltd. reported unaudited financial results for the third quarter and nine months ended May 31, 2014. For the nine months, the company reported net loss of CAD 7.6 million compared with net loss of CAD 10.7 million for the same period last year. Net loss per share for the period amounted to CAD 0.02 per share, as compared to a loss of CAD 0.04 per share for the comparative period of fiscal 2013. Net cash used in operating activities was CAD 2.774 million as compared to net cash from operating activities of CAD 1.153 million for the comparative period of fiscal 2013. Acquisition of property, plant and equipment was CAD 109.771 million as compared to CAD 44.451 million for the comparative period of fiscal 2013. Exploration expenditures, net of recoveries was CAD 7.792 million as compared to CAD 9.118 million for the comparative period of fiscal 2013. Interest earned in the nine months ended May 31, 2014 totaled CAD 3.4 million as compared to CAD 3.9 million in the comparative period in the prior year.

For the third quarter, the company reported net loss of CAD 4.32 million compared with net loss of CAD 10.015 million for the same period last year. Net loss per share for the period amounted to CAD 0.01 per share, as compared to a loss of CAD 0.03 per share for the comparative period of fiscal 2013. The net loss is smaller mainly due to a more stable Rand value in the current period.

The company to continue exploration and definition drilling on the Waterberg Joint Venture and Waterberg Extension with eight or more drill rigs during 2014.