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Latest News: Southern Palladium Ltd. SOUTH PD [SDL]

Thu, 31 Jul 2025	Official Announcement [TN]
South PD - quarterly activities report June 2025 Highlights Operational: • Environmental Authorisation (EA) for the Bengwenyama PGM Project issued by the Department of Mineral and Petroleum Resources (DMPR) • EA approval followed comprehensive regulatory engagement process and marked a key milestone for the award of a Mining Right for Bengwenyama • Confirmation that no objections were lodged by interested and affected parties during the designated objection period following EA approval – another significant milestone marking completion of the EA approval process • Completion of optimised Pre-Feasibility Study (OPFS) for Bengwenyama, delivering an NPV of US$857m via a staged development approach with 38% lower peak funding requirement. This makes the project much more fundable. Additional parameters of the NPV included: Corporate: • With the support of several cornerstone investors completed a strategic share placement via the issue of 16 million new fully paid ordinary shares at AUD0.50 per share to raise AUD8 million before costs • Placement done at-market, being a 10.5% premium to the 10-day VWAP with no attaching options, demonstrating strong support from shareholders. Provides balance sheet strength to advance next phase of Definitive Feasibility Study (DFS) work and staged mine development at Bengwenyama with minimal dilution and changes to the group’s capital structure • Cash balance of AUD9.92 million excludes cash held by the Company’s 70% subsidiary, Miracle Upon Miracle Investments (Pty) Ltd. at 30 June 2025 of AUD0.39 million (31 March 2025: AUD0.74 million).
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