Thursday, November 4, 2010

George Soros Increases Stake in Platinum Group Metals (AMEX:PLG)

Via his Soros Fund Management, LLC hedge fund, billionaire George Soros increased his stake in Platinum Group Metals (AMEX:PLG) to 9.73 percent of the company, underscoring the confidence platinum demand and prices will continue to rise.

Soros formerly owned about 1.5 million shares, and has raised that by 10 percent to 15,500,000 million shares over last quarter.

The fund is now the largest holder of shares in the company.

Platinum Group closed the trading session Wednesday at $2.10, losing $0.01, or 0.47 percent.

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