Platinum Group shares surge 10.38% intraday as Tharisa remains constructive on PGM outlook amid production and price gains.

Platinum Group surged 10.38% intraday following Tharisa PLC’s report of a 30% year-on-year increase in platinum group metal (PGM) production to 38,800 ounces and a 60% rise in PGM prices to $2,208 an ounce. The Cyprus-based miner cited strong market fundamentals and a "constructive" price outlook from its CEO, who expects current or higher prices to persist. The production growth and robust pricing, driven by seasonal demand and operational efficiency, aligned with the stock’s sharp intraday gains, despite flat opening prices in Johannesburg. The news reinforced investor confidence in the PGM sector’s near-term prospects.