Highlights
- The platinum group metals and chrome developer said its September quarter spending rose on drilling, while a mining right granted in August and an updated study headline its progress.
- The company said its balance sheet fully funds the remaining definitive feasibility study (DFS) work and early development activities, subject to permitting.
- The company said early box-cut and decline development is expected in the initial quarter of next year, subject to waste management and water use permits.
The platinum group metals and chrome developer said its September quarter spending rose on drilling, while a mining right granted in August and an updated study headline its progress. Southern Palladium sits outside the ASX 200, among the market’s smaller listed companies. It is among the key developments in today’s ASX Metal and Mining Stocks coverage.
The company said no mining production or development activities took place in the quarter.
The project and the updated study
The project covers many hectares in Limpopo, with a planned mine life of many years.
Chrome is a growing part of the case.
Cash flow and funding
The company said its balance sheet fully funds the remaining definitive feasibility study (DFS) work and early development activities, subject to permitting.
Approvals and metallurgy
The Department of Mineral Resources and Energy granted the Mining Right in early August for an initial many years, with a renewal option, following an application that began in October some years ago. Environmental Authorisation was granted in June last year.
Risks and next milestones
The company said early box-cut and decline development is expected in the initial quarter of next year, subject to waste management and water use permits. December-quarter plans include permitting, contractor engagement, further flowsheet optimisation and larger-scale confirmatory Jameson cell testing. Discussions with prospective smelting and refining partners are expected to start shortly, and no binding offtake agreement has been announced.