On December 5, 2024, Platinum Group Metals Ltd. announced an at-the-market (ATM) offering of up to $50 million (C$70.3 million) in common shares, closing on December 13, 2026. Shares were sold at prevailing market prices through BMO Nesbitt Burns Inc., Beacon Securities Limited, and BMO Capital Markets Corp., with a commission of up to 3% on gross proceeds.

Proceeds were designated for the development of the Waterberg Project in South Africa (US$35.43M or C$49.8M), including pre-construction activities and a feasibility study in Saudi Arabia (US$2M or C$2.8M), as well as corporate expenses (US$7.77M or C$10.9M). Legal counsel included Gowling WLG and Dorsey & Whitney LLP for the issuer, and Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP for the agents.

The shares were listed on the TSX (symbol: PTM) and NYSE American (symbol: PLG).