In February, Bridge Street Executives traveled to Cape Town to attend the Indaba and 121 Mining Conferences with Southern Palladium Ltd (SPD). The Managing Director of SPD, Johan Odendaal, spoke at the 121 Conference, engaging with international institutional investors.
Post-conference, the team and a group of shareholders traveled to Johannesburg to conduct a site visit at SPD's 70% owned Bengwenyama PGM property on the Bushveld Eastern Limb.
Southern Palladium (ASX:SPD) Site Visit
As a reminder the project’s Inferred Resources total 18.8Moz (3PGE+Au, 100% basis) in the UG2 and Merensky reefs at a combined grade of 4.07g/t. The total UG2 Inferred Resource is approximately 8.4Moz at a grade of 7.7g/t with roughly equal proportions of Pt and Pd by volume, and around 10% Rh.
Our senior analyst, Dr. Chris Baker, considers SPD to represent exceptional value. Re-rating of SPD should accompany the completion of the drilling program by mid-2023, which should then lead to a new resource, the completion of a PFS, the start of a BFS, the granting of a Mining Right, and potentially first production within 5 years or less.
Strengths of the project include:
Monwana Game Reserve
As a treat for the end of the trip, the SPD team showed the group to the Thornybush Game Reserve where they took this video of a sleepy lion in the early hours of the morning.
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