Name of the Project
Bengwenyama platinum group metals (PGMs) project.

Location
Eastern limb of the Bushveld Complex, in Limpopo, South Africa. 

Project Owner/s
Southern Palladium (70%).

Project Description
Bengwenyama contains more than 70% of the world’s known PGM resources. The project is described as being particularly rich in palladium and rhodium.

An in-house scoping study has confirmed that a standalone upper group two (UG2) project has the best potential with a prefeasibility study (PFS).

Three other development scenarios were assessed:
Scenario 2 – mining Merensky.
Scenario 3 – mining UG2 and Merensky simultaneously.
Scenario 4 – mining UG2 to completion, followed by Merensky.

The shallow Merensky reef has been recommended for potential future development and might significantly extend the life of the proposed mine in the area now earmarked for mining.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Preliminary, unoptimised testing indicates that the Bengwenyama UG2 reef can be treated using conventional methods.

Initial metallurgical testwork results at the project indicate that metallurgical recoveries of between 80% and 85%, with concentrate grades of 130 g/t to 250 g/t platinum, palladium, rhodium and gold, can be obtained.

Testwork to further enhance recoveries will be undertaken as part of a prefeasibility study.

A mineral resource update is also expected to be released in due course.

A scoping study for the project is under way, with the results scheduled for release in January 2024.

Significant progress has been achieved in understanding the metallurgy of the UG2 orebody. Preliminary testing suggests that ore from the UG2 reef can be effectively treated with recoveries ranging from 80% to 85% through conventional methods that are used across the Bushveld Complex and, therefore, aligning with industry.

Key Contracts, Suppliers and Consultants
Minxcon (internal scoping study).

Contact Details for Project Information
Southern Palladium, email info@southernpalladium.com.