Southern Palladium, which owns the Bengwenyama Platinum Group Metal (PGM) project in South Africa, recorded an operating loss of A$3,2 million ($2.1 million) for the period ended December 31, 2023, up from the previous year’s loss of A$3,8 million ($2.5 million).
Its basic loss per share also decreased to A$0.035, down 33% compared to a loss of A$0.052 a year earlier.
The company's revenue rose 819% to A$435,475 during the period under consideration compared to the previous year’s A$47,391.
The Bengwenyama project, which is situated within two farm boundaries — Eerstegeluk and Nooitverwacht — is a large, shallow, advanced exploration and pre-development PGM opportunity situated on the eastern limb of the Bushveld Complex, which holds approximately 72% of the world’s PGM resources.
Southern Palladium said it is well-funded to complete its pre-feasibility study at Bengwenyama, which already contains an indicated and inferred mineral resource estimate of 26.2 million ounces.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
