FY Results – Northam Platinum has abandoned its bid for Royal Bafokeng Platinum due to the drop in PGM prices, triggering a Material Adverse Change (MAC) clause that allowed the company to walk away from the deal. Impala Platinum’s offer is now the only one on the table. MAC clauses exist to protect buyers from unforeseen changes that could damage the value of an asset. The announcement specifies two separate metrics in which Material Adverse Changes have occurred, prompting Northam to terminate the deal with immediate effect.