Scrap Gold and Silver prices drop, Platinum surges on Index, May 19th, 2015:

Canada's Power Metallic reported a 5.70-metre downhole interval at its Lion zone containing 2.48 g/t palladium and 0.26 g/t platinum, alongside copper and other metals. The company said the hole reached mineralisation below its current resource model, at nearly 800 metres vertical depth. Reported downhole length is not the same as true width. The assays indicate potential to extend this copper-PGE system below the existing model; further drilling is needed to define continuity and tonnage.

Clean Air Metals and Springbok Ventures announced the closing of approximately C$6.2 million in subscription receipts linked to their proposed business combination. The resulting company would focus on advancing the platinum and palladium-bearing Thunder Bay North project and exploring Springbok’s Maude Lake property. The proceeds are held in escrow pending transaction conditions. This is a funding milestone, although access to the proceeds depends on satisfying the escrow conditions.

Generation Mining closed a C$240 million share offering and concurrent private placement. It says the net proceeds are intended for development, construction and operation of its Marathon copper-palladium project in Ontario, Canada, alongside associated costs. The completed raise is a financing step for a prospective North American palladium source. It does not itself mean construction or production has begun.