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Platinex Inc. (PTX.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.0550+0.0050 (+10.00%)
At close: 3:59PM EST
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Previous Close0.0500
Open0.0450
Bid0.0500 x 0
Ask0.0550 x 0
Day's Range0.0450 - 0.0550
52 Week Range0.0100 - 0.1250
Volume898,418
Avg. Volume330,788
Market Cap5.644M
Beta (5Y Monthly)2.33
PE Ratio (TTM)N/A
EPS (TTM)-0.0050
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Platinex and Transition Metals Announce Collaboration on Shining Tree Area Exploration
    GlobeNewswire

    Platinex and Transition Metals Announce Collaboration on Shining Tree Area Exploration

    TORONTO, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) ("Platinex") and Transition Metals Corp (TSX-V; XTM) (“Transition”) jointly announce that they have entered into an agreement respecting sharing of data and conceptual knowledge for conducting collaborative exploration work on their adjoining properties in the Shining Tree area of Ontario. The joint exploration programs will initially focus on developing a greater understanding of the controls on mineralization to optimally target drilling within the Cryderman property area of the larger Shining Tree property package. The central portion of the Shining Tree area is underlain by a cluster of numerous gold showings, many of which have been explored underground in the past with some limited production. Platinex has acquired many of these prospects in its efforts to consolidate a mining camp scale project which is now the largest land holding in the Shining Tree gold district at 20,750 hectares (51,274 acres). The Platinex property is situated along the Ridout-Tyrrell trend between the Juby deposit of Caldas Gold to the east and the mine development-stage Cote gold deposit of IAMGOLD and Sumitomo to the west.Transition, an experienced project generator team that specializes in converting new exploration ideas into discoveries, identified the Shining Tree Belt as an underexplored but very prospective area for gold. Subsequently, Transition acquired the Cryderman property which hosts the Queen Elizabeth vein in close proximity to a common property boundary with Platinex. (see Transition Metals News Releases May 15, 2018, September 23, 2019 and November 27, 2019).Mr. James R. Trusler, Chairman and CEO of Platinex stated, ”We are pleased to work towards a common understanding of the controls on gold mineralization in the Shining Tree area with Transition Metals in order for both companies to enhance their approaches to identifying optimal exploration targets. This would apply not only on the Queen Elizabeth vein but on the many other known and yet to be identified prospects in the Shining Tree area.”Transition President and CEO Scott McLean commented, “Sometimes you just have to take a step back before you can fully appreciate what the scale of the opportunity can be. Transition has reported high grade gold on its Cryderman property and by working with Platinex we expect to gain a more robust understanding of the mineralization controls to optimally target drilling. Our property is situated in one of the best gold belts in the world that continues to produce new discoveries. Recent examples of success in this part of the Abitibi include IAMGOLD and Sumitomo’s now >10 million Oz¹ Cote Gold project under development 40km to the west and Caldas Resources >2 million Oz² Juby deposit located 20km to the east.”¹Source: IAMGOLD news release dated February 18, 2020 stating more than 10.2 million ounces of Measured and Indicated Resources.²Source: Technical report filed by Caldas Gold dated October 5, 2020 listing 0.773 million ounces of gold in the Indicated Resource category and 1.488 million ounces of gold in the Inferred Resource categoryThe information presented in this news release has been reviewed and approved by James R. Trusler, P.Eng., Chairman and CEO of the Platinex and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 ‘Standards for Disclosure for Mineral Projects’.About Platinex Inc. – Advancing a District Scale Project in the Abitibi Greenstone BeltPlatinex is focused on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. The Shining Tree property is the largest holding in the Shining Tree gold district at 20,750 hectares (51,274 acres) situated along the Ridout-Tyrrell trend between the Juby deposit owned by Caldas Gold to the east and the mine development-stage Cote gold deposit to the west owned by Iamgold and Sumitomo. The Company is also utilizing its proprietary data to seek financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX". To receive Company press releases, please email lparadis@platinex.com and mention “Platinex press release” on the subject line.About Transition Metals Corp Transition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into discoveries. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder’s equity dilution. Further information is available at www.transitionmetalscorp.comFORWARD-LOOKING STATEMENTS:This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.Neither the TSX Venture Exchange, Canadian Securities Exchange nor their Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.For More Information Contact:Platinex Inc:James R Trusler, Chairman Email: jtrusler@platinex.com Tel: (416) 565-5616Lori Paradis, Assistant Secretary                  Tel: (416) 268-2682                 Email: lparadis@platinex.com Web: www.platinex.comTransition Metals Corp Scott McLean President and CEO Transition Metals Corp. Tel: (705) 669-1777

  • GlobeNewswire

    Platinex Inc. Announces the Appointment of Two Advisors to Finance Committee

    TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") is pleased to announce that Mr. Olivier Crottaz and Mr. Max Pluss have been appointed to the Company’s Finance Advisory Committee reporting to Committee Chair, Mr. Greg Ferron. The role of the committee is to provide financial guidance and strategic direction to the Board of Directors on matters related to capital markets, corporate finance and M&A.Mr. James R. Trusler, Chairman of Platinex, stated, “We are thrilled to have Olivier and Max join our newly-formed Finance Committee as Advisors with deep experience in the European and American markets. With exploration activities underway at Shining Tree in Ontario and an improving gold sentiment, now is an ideal time to strengthen our investor base and take advantage of their experience analyzing corporate opportunities. Establishing effective outreach to foreign markets and analyzing growth opportunities can be a challenge for companies on junior markets in Canada, so we are excited to strengthen our team and continue building the foundation of the company with the help of well-established financial professionals in strategic geographic markets.”Mr. Olivier Crottaz is a Swiss Independent Asset Manager who founded “Crottaz Finance” in 2007. Olivier spent 30 years in the Swiss Banking business in successively more senior positions first as Senior Portfolio Manager and tactical asset allocator at UBS and second at Credit Suisse as Managing Director (Head of Department and Senior Financial Advisor). As Senior Managing Director at Credit Suisse, he achieved the Certified European Financial Analyst Certificate (CEFA) and the Swiss “Expert Diplômé en Finance et Investissements.” He serves on the board of two Swiss companies. Olivier has been investing in the mining sector successfully for more than 20 years.Mr. Max Pluss provides strategic advisory and consulting services to public and private companies on a diverse range of projects, including corporate development, market positioning, due diligence, and capital formation. In an investment capacity, Max is also involved in idea generation, due diligence, and transaction execution on equity and credit investments, often with a New York-based fund and other permanent capital investors. Previously, Max was an Analyst at Extract Capital, a hedge fund focused on natural resource investments. He received his B.A. from Colorado College with a degree in International Political Economy and M.B.A. degrees from Columbia University and London Business School.  Platinex has granted 800,000 options to consultants effective October 8, 2020. The options are priced at the previous day’s close of $0.065 and expire on October 8, 2025.Contact Information:James R Trusler, CEO and Chairman Email: jtrusler@platinex.com Tel: (416) 565-5616Lori Paradis, Assistant Secretary Tel: (416) 268-2682 Email: lparadis@platinex.com Web: www.platinex.comAbout Platinex Inc. – Advancing a District Scale Project in the Abitibi Greenstone BeltPlatinex is focused on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. The Shining Tree property is the largest holding in the Shining Tree gold district at 20,750 hectares (51,274 acres) situated along the Ridout-Tyrrell trend between the Juby deposit owned by Caldas Gold to the east and the mine development-stage Cote gold deposit to the west owned by Iamgold. The Company is also utilizing its proprietary data to seek financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".To receive Company press releases, please email lparadis@platinex.com and mention “Platinex press release” on the subject line.FORWARD-LOOKING STATEMENTS:This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.The Canadian Securities Exchange has not approved nor disapproved the contents of this press release.

  • Platinex Provides Update on Exploration of Caswell Prospect
    GlobeNewswire

    Platinex Provides Update on Exploration of Caswell Prospect

    Shining Tree Project, Caswell Prospect Shining Tree Project, Caswell ProspectTORONTO, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") is pleased to provide an update on the active exploration program of the Caswell prospect at Shining Tree property in the Abitibi greenstone belt of Northern Ontario, (see press release of September 16, 2020 “Platinex Inc. Announces Initiation of Exploration on Its Shining Tree Property”). The Shining Tree property is the largest holding in the Shining Tree gold district at 20,750 hectares (51,274 acres) situated along the Ridout-Tyrrell trend between the Juby deposit owned by Caldas Gold to the east and the mine development-stage Cote gold deposit to the west owned by Iamgold.Current Exploration ProgramThe current exploration program will focus on the underexplored 21 kilometres of the Ridout-Tyrrell deformation zone and associated syenite intrusives. This major deformation zone trends as far west as Borden Lake, through the area of the Cote gold deposit, directly through the Platinex Shining Tree property and on to the Juby deposit. A key initial target for Platinex along this trend will be the Caswell prospect, which hosts a 700 m wide east-west corridor of shear zones and quartz veining.A mechanical stripping and channel sampling program is currently in progress on the property to further assess the extent and gold mineralization within an approximately 700m wide corridor of veining, shearing and alteration. Figure 1 includes areas of stripping and sampling program.Results from the stripping and channel sampling work will provide input to a diamond drilling program to follow which will test strike extensions of the vein systems beneath deeper overburden areas and test the width of the zone.In 2010, Platinex conducted a surface stripping and channel sampling program traversing much of the width of the structure. A total 370 channel samples, and four grab samples were taken and analysed for gold by ALS Chemex of Vancouver by fire assay. Sample material included both the veins and enclosing altered shear zones. This work which is described as part of the Historical Work below and the proposed coverage this year are depicted on the attached Figure 1.In March and April, 2011 Platinex completed a seven hole 1,070 m drilling program on the Caswell area. The first hole, WP11-01, returned a gold assay of 18.75 g/t over 0.5m within a broader zone of visible gold bearing quartz-tourmaline veining assaying 4.52 g/t over 2.52 m believed to be within vein 108 and immediately south of trench 4.James R. Trusler, Chairman and CEO of Platinex stated, “The Caswell Prospect is situated on the east side of a 3km diameter circle of gold deposits and former producers where the Ridout-Tyrrell deformation zone intersects the major north-south trending Michiwakenda fault. From the sampling done on Caswell to date the mineralization appears to be systematic. In addition to the chances for a discovery here we should be able to apply what we learn here to other nearby prospects.”An expanded till sampling program on the property is also progressing well.Summary of Historical Exploration Program at Caswell. From 1916 to 2002 previous exploration has been recorded by ten different companies that have identified 24 different veins on the east side of Caswell Creek and 17 on the west side over a 700 m wide ENE trending corridor of shearing and alteration. On the east side of the creek the known strike extent is 300m before being obscured by overburden. Many of the veins have been indicated in the past to contain significant gold mineralization with silver and tellurium, but no systematic exploration of the entire zone has been conducted.Early work on Caswell includes sinking one shaft to 170 m with a total of 330m lateral development on 4 levels and another shaft to 28m with 53m of lateral development. Much of the early work recorded very high gold assays in some veins. Platinex has taken the approach of caution with historical reporting, but reliance on the more analytical and critical approaches taken by Chesbar Resources Inc (“Chesbar”) in 1987-1988 and Practical Exploration & Development Corporation (“Practical”) in 2001 is very valuable information to incorporate into the active exploration today at Caswell.Work by Chesbar included a random collection of 106 grab samples from veins on the east side of the property. Of the 106 samples, 8 returned grades greater than 6.0 g/t Au, 5 samples returned values greater than 16 g/t Au, 11 returned grades greater than 3.0g/t Au and 26 returned grades greater than 0.06 g/t Au . Practical also collected 18 random samples of vein material 3 of which returned greater than 3g/t Au.Platinex’s 2010 sampling (370 channels and four grab samples) compare favourably returning numerous highly anomalous gold values including 10.55 g/t Au over/ 0.69m, 9.1 g/t over 1.0m, 4.69 g/t over 0.69m, 4.1 g/t over 0.44m, 4.41 g/t over 0.47m, 3.37 over 1.03m, 3.57 over 0.54m in channel samples and up to 27.7g/t Au in grab samples. In addition to these samples, 22 channel samples returned gold values greater than 0.7 g/t, three of which were greater than 2 g/t. The success rate of good values within the actual vein material is similar to results reported by Chesbar and Practical.The information presented in this news release has been reviewed and approved by James R. Trusler, P.Eng., Chairman and CEO of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 ‘Standards for Disclosure for Mineral Projects’.Lori Paradis, Assistant Secretary                  Tel: (416) 268-2682                 Email: lparadis@platinex.com Web: www.platinex.comAbout Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. The Company is also utilizing its proprietary data to seek financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".To receive Company press releases, please email lparadis@platinex.com and mention “Platinex press release” on the subject line.FORWARD-LOOKING STATEMENTS:This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.The Canadian Securities Exchange has not passed upon the merits of the Private Placement and has not approved nor disapproved the contents of this press release.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f7c4007-ebc7-463f-9e91-3b796113d6d2