Electrum Strategic Opportunities Fund, a special purpose acquisition company headed by Thomas Kaplan, has invested $10 million of equity in Wellgreen Platinum, a Canadian mining exploration and development company.
Wellgreen Platinum Mining News
With these agreements in place, the Company has initiated the second phase of its 2015 exploration drill program at Wellgreen and expects to undertake a comprehensive metallurgical testing program starting in Q1 2016.
The company filed a preliminary economic assessment in the spring.
"I think in general the investor who are interested in a development stage company tend to be the same group of investors. But if they are looking for that allocation in PGMs, they don't have many options to look at outside of South Africa or Russia. It means there are small group of companies who are our peers."