Platexco Inc. was a publicly listed Tau Capital group company (TSX:PTX), who secured and explored the Winnaarshoek Platinum Project, located in the Bushveld Igneous Complex in South Africa. Platexco, returned an IRR of 119%: with $13m invested, the company was sold for $191m over a period of less than 3 years.
Platexco completed extensive magnetic and radiometric surveys, as well as a 62-borehole diamond drilling program that intersected reefs located on the Winnaarshoek Platinum Project at depths varying from 50 meters to 800 meters. The program confirmed an 80.7-million tonne resource at 6.65 3-PGE + Au g/t and a 62.5-million tonne reserve at 5.54 3-PGE + Au g/t. A pre-feasibility study was completed in 1999, which indicated the Winnaarshoek Platinum Project would support the development of a platinum mine. Today, the project produces 250,000 oz of PGEs per annum and is called Marula Platinum.