Platinum Group Metals Ltd. announced consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company incurred a net loss of CAD 5.6 million compared to net income of CAD 0.47 million for the same period a year ago. Finance income consisting of interest earned and property rental fees in the quarter amounted to CAD 1.2 million compared to CAD 0.98 million for the same period a year ago.

Loss per share for the quarter amounted to CAD 0.01 as compared to a loss of nil per share for the comparative period in fiscal 2014. During the quarter ended November 30, 2014, total expenditures by the company for development, construction, equipment and other costs for project 1 were approximately CAD 45.5 million. Expenditures by the company during the quarter for exploration on the Waterberg projects were approximately CAD 3.7 million, with a further CAD 1.6 million funded by joint venture partner, the Japan Oil, Gas and Metals National Corporation.