Southern Palladium's Quarterly Activities Report

Southern Palladium (ASX: $SPD) has released its quarterly activities report for the three months ended 30 June 2024. The company focused on advancing its development program at the Bengwenyama PGM project, with the completion of the Pre-Feasibility Study (PFS) drilling campaign being the primary highlight.

Executive Commentary

The completion of the PFS drilling campaign marks a significant milestone for Southern Palladium. The results will be incorporated into an updated Mineral Resource Estimate, targeting an expanded Indicated Resource for the Bengwenyama project. We are pleased with the progress and remain well-funded to complete the PFS from existing cash reserves. The ongoing review by independent experts ensures the highest standards of due diligence and quality assurance.

Summary of Quarterly Activities

Southern Palladium's focus on advancing the Bengwenyama PGM project is evident from the successful completion of the PFS drilling campaign. The company targets an expanded Indicated Resource for the project, with the updated Mineral Resource Estimate expected to be released in the third quarter of 2024. The completion of the PFS follows an extensive Scoping Study, indicating the development of a high-grade, low-capital intensity underground mining operation with a Post-tax NPV of approximately US$700 million. Southern Palladium's commitment to environmental, social, and governance aspects is reflected in its ongoing engagement with local authorities, community representatives, and adherence to high standards of health and safety. The company's well-funded position and progress in project development indicate a positive outlook for its corporate strategy and the Bengwenyama project.