Platinum Australia successfully closes the retail component of its equity raising

Platinum Australia Limited is pleased tbasalt rock dust used in concrete making blockso announce that it has closed the retail component of its underwritten 1 for 7 accelerated non-renounceable pro-rata entitlement offer (“Retail Entitlement Offer”). This follows the successful completion of the underwritten institutional entitlement offer and institutional placement which raised approximately A$27.7 million.

Platinum Australia accepted applications for approximately A$3.4 million under the Retail Entitlement Offer, representing 25% of the shares offered under the Retail Entitlement Offer.

As the Retail Entitlement Offer is fully underwritten, the remaining approximately 18.2M new shares available under the Retail Entitlement Offer will be allotted in accordance with the terms of the underwriting agreement.

The total amount to be raised under the Retail Entitlement Offer is approximately A$13.6 million.

The allotment of new shares is expected to occur Monday, 13 December 2010 with new shares commencing trading on ASX on Tuesday, 14 December 2010.