Company Overview:

Platinum Group Metals Ltd. (TSX: PTM) is the operator of the Waterberg Project, a bulk underground PGM deposit located in South Africa. Waterberg was discovered by Platinum Group and is being jointly developed with Implats, the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Hanwa Co. Ltd. Waterberg has the potential to be a large-scale, low-cost producer of palladium, platinum, rhodium, and gold. Geographically, it operates in Canada and South Africa.

This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.

Fundamental Highlights:

Advancing a Major Strategic Mining Asset: The company is steadily progressing the Waterberg Project toward a construction decision through comprehensive engineering, infrastructure planning, and community development. Partnerships, active community engagement, and ongoing DFS-related work position the project for long-term value creation, supported by rising platinum and palladium prices and emerging technological applications for PGMs.

Expanding Future Market Opportunities Through Innovation: The company is pursuing multiple commercial pathways for concentrate offtake, including discussions with major smelters and strategic refining options abroad. Its battery technology initiative through Lion offers exposure to high-growth energy-storage markets, creating potential vertical integration and diversifying future demand for PGMs amid evolving global automotive and energy trends.

PTM’s Technical Observation:

The daily price chart of PTM is rebounding above CAD 2.75 with improving momentum as RSI trends upward from oversold levels. Price is testing the 14-day moving average near CAD 2.95; a breakout could signal renewed strength, while support remains firm around recent lows near CAD 2.65.

PTM’s Daily Price Chart

As per the above-mentioned price action and technical indicators analysis, a ‘Speculative Buy’ rating has been given Platinum Group Metals Ltd. (TSX: PTM) at the last closing price of CAD 2.94, as of 25^th November 2025. Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain Macro & Micro-economic data and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on November 25, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.