Platinum Boom

In 1923, prospectors discovered platinum in the Transvaal and organized the Transvaal Platinum, Ltd. to exploit their discovery. Capital was raised, ore was extracted and tested. A first-class mine was developed, although how permanently profitable it may prove is anyone's guess at present.

The example of Transvaal Platinum, Ltd. has been contagious, and other prospectors have also found the precious metal in adjoining districts of the Witwatersrand, although in many cases not in paying quantities. Enough has been done to indicate that a very large section of the Central Transvaal may be potentially platinum-bearing.

Accordingly, a lively platinum boom has set in at Johannesburg, South Africa, which in spirit and extent threatens to rival the Transvaal gold boom of the 90's. The Afrikanders have gone platinum mad. Scores of new platinum companies have been organized, some merely on the basis of leasing land in the "platinum district," their shares have been listed on the Johannesburg Stock Exchange and have shot up to 10 or 15 times their original price in a few weeks.