Southern Palladium Lodges Environmental Guarantee for South Africa Platinum Group Metals Project; Shares Reach Record High

MT Newswires Live

Oct 07

Southern Palladium (ASX:SPD) said it lodged an environmental guarantee with South Africa's Department of Mineral and Petroleum Resources regarding the development of the Bengwenyama platinum group metals project for the future rehabilitation of the disturbed area, according to a Tuesday Australian bourse filing.

The company launched an around 10,000-meter metallurgical and geotechnical drill program as part of its definitive feasibility study work, the filing said.

The firm's managing director, Johan Odendaal, said the guarantee followed a consultation and execution process with its insurance counterparty and government representatives.

Southern Palladium's shares jumped over 21% in recent trading on Tuesday, earlier reaching their highest-ever point.

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