Platinum Group Metals Ltd. · TSX:PTM
Platinum Group Metals — FINANCIALS FOR APRIL 14 2009
16 slides from Platinum Group Metals's investor presentation, Apr 16, 2009
Slide 1: Interim Consolidated Financial Statements, quarter ended February 28, 2009
Platinum Group Metals Ltd. (Exploration and Development Stage Company) Interim Consolidated Financial Statements For the quarter ended February 28, 2009 Filed: April 14, 2009 A copy of this report will be provided to any shareholder who requests it.
Slide 2: Consolidated Balance Sheet
SURFACE RIGHTS (Note 7(6)) 3,167,631 3.199102 FIXED ASSETS (Note 7(2)) 421,683 479390 Total soets S35 595077 $ 2am LIABILITIES CURRENT ‘Acomunts prysbie and scrrued Eabitins (Note 7(0)) $ 2650387 $ 2375761 Total tabaiies 2,650,387 2515761 SHAREHOLDERS EQUITY Share capital (Note 8) o2gsz913 95359302
Slide 3: See accompanying notes to the consolidated financial statements
See accompanying notes to the consolidated financial statements.
Slide 4: See accompanying notes to the consolidated financial statements
See accompanying notes to the consolidated financial statements.
Slide 5: Nature of Operations and Significant Accounting Policies
See accompanying notes to the consolidated financial statements. 1. NATURE OF OPERATIONS The Company is a British Columbia corporation incorporated on February 18, 2002 by an order of the Supreme Court of British Columbia approving an amalgamation between Platinum Group Metals Ltd. and New Millenniu
Slide 6: Functional currency and Western Bushveld Joint Venture
Effective May 31, 2006 the Company concluded that the functional currency of WBJV was the South African Rand as expenditures in the WBJV were principally being incurred in Rand and funded by advances from the venturers which were denominated in Rand. The Company therefore considers its equity invest
Slide 7: Surface Rights
(b)Surface Rights During the year ended August 31, 2008 the Company purchased surface rights adjacent to the WBJV Project 1 deposit area measuring 216.27 hectares for an amount of Rand 8.0 million (approx. C$1.09 million). During the 2008 year the Company also entered into a legally binding agreemen
Slide 8: Stock options exercisable and unrecognized compensation cost
The weighted average exercise price of the exercisable options at period end was $1.99. Total compensation cost related to non-vested awards not yet recognized is $730,957 and is expected to be recognized over a weighted-average period of 0.65 years.
Slide 9: Stock options granted during the period
(i) During the period ended February 28, 2009 the Company granted 1,887,000 stock options to employees. The Company has recorded $1,374,404 ($1,175,451 expensed and $198,953 capitalized to the WBJV) of compensation expense relating to stock options granted or vested in this period. Cash received fro
Slide 10: Consolidated Statements of Operations
Consolidated Statements of Operations
Slide 11: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
Slide 12: Investment in WBJV and exploration expenses under Canadian and US GAAP
(a) Investment in WBJV Under Canadian and US GAAP the Company accounts for its working interest in the WBJV as an investment in the WBJV. Under Canadian GAAP these expenditures are capitalized to the investment in WBJV. Under US GAAP, exploration expenditures on mineral property costs can only be de
Slide 13: Cumulative expenditures since inception to February 28, 2009
{inc eption) to February 28, 2009 Exploration expenditures incurred in WEIV $ 18,470,466 Exploration expenditures 8,977,306 General administrative, salaries and other 26,028,819 Ending deficit, February 28, 2009 $ 53,476,591
Slide 14: Cumulative cash flows since inception to February 28, 2009
{inc eption) to February 28, 2009 Operating activities $ (46,863,308) Investing activities (6,533,056) Financing activities 59,650,363 Cash and cash equivalents - February 28, 2009 _$ 6,253,999
Slide 15: Statement of shareholders' equity
Iusdoreersso!at scooter end = = = = = Ee (ued ormveratproserias oo = = = = = cu (veaedaan loss on raraiabeseouties E = = = aon = ‘3000 ‘Soscoctorsaratez = = = 08) = = Tes4on ‘Tecetaeto fowhvowgh ars sued = ra) = = = (1208) Bares Ams OE SES ary aT win ears) Paaet [sgusre of ou-tro.oh corgmenahaes Grc
Slide 16: Subsequent Events
16. SUBSEQUENT EVENTS In late March 2009 the Company received US $213,126 (approximately $266,407) in funding from the Japan Oil, Gas and Metals National Corporation with regard to project exploration funding for the War Springs project in South Africa. See Note 6 (a)(i) for more details.