Johnny Copelyn takes a gamble on platinum
CEO Johnny Copelyn denies speculation of plans to mop up other low-priced opportunities in the sector
Hosken Consolidated Investments (HCI), best known for its investment in gaming and leisure group Tsogo Sun, is having a flutter on the beleaguered local platinum mining sector. The group’s latest annual report discloses a typically adventurous $6m investment in Canadian-listed mining exploration company Platinum Group Metals, which is prospecting a palladium and platinum resource in the Waterberg area. The investment snags HCI a useful 15% stake in Platinum Group Metals, as well as board representation and a seat at the table of the joint-venture project arrangement with JSE-listed Impala Platinum. This is not HCI’s first resource investment. The group already owns sizeable investments in the coal sector and in energy through Impact Oil & Gas. HCI CEO Johnny Copelyn has played down any speculation that HCI is looking to mop up other low-priced opportunities in the platinum sector. He emphasises that Platinum Group Metals offers a low-cost opportunity to enter the sector, and should ...
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