Podium Minerals Unveils Game-Changing Concentrator, Boosts Parks Reef Prospects

Metallurgical Breakthrough Sets New Benchmark

Podium Minerals Limited has revealed a transformative metallurgical development that promises to reshape the trajectory of its flagship Parks Reef Project in Western Australia. The company’s newly developed concentrator flowsheet has demonstrated an impressive recovery rate of around 80% for the key platinum group metals, platinum, palladium, and gold, collectively referred to as 3E. This breakthrough not only enhances metal recovery but also produces two distinct, high-grade PGM products with an ultra-low chrome content, a critical factor for downstream refining compatibility.

The concentrator achieves a remarkable 50-fold upgrade ratio, delivering a combined product grade of 82 grams per tonne 3E. This performance surpasses initial targets and is underpinned by proven, de-risked technologies tailored specifically to the unique mineralogy of the Parks Reef ore body.

Unlocking Strategic Optionality at Parks Reef

The Parks Reef Project itself is a globally significant PGM resource, boasting an inferred 183 million tonnes containing 7.6 million ounces of 5E PGMs (platinum, palladium, rhodium, iridium, and gold), alongside a substantial copper-gold zone with 60 million tonnes adding further value. The project benefits from a low-risk jurisdiction in Western Australia, granted mining licenses, and established native title agreements, positioning it well for development.

Podium’s concentrator breakthrough unlocks multiple strategic pathways, including direct sale, toll refining, or blending of products with existing streams, enhancing flexibility in commercialisation. The company is advancing pilot-scale testing to validate and optimise the flowsheet at scale, alongside deeper diamond drilling to explore resource continuity and growth potential beyond the current 250-meter depth, with geophysical surveys indicating mineralisation may extend beyond 2 kilometers.

Capital Raise Fuels Next Development Phase

To support this pivotal phase, Podium has launched a $12 million capital raise comprising a $5 million placement and a $7 million non-renounceable rights issue. The funds will be allocated to metallurgical drilling, pilot plant development, resource expansion, and strategic business development activities. While the raise introduces dilution risks for existing shareholders, the company believes the capital is essential to advance Parks Reef towards commercial viability and to capitalise on the tightening PGM market.

Market fundamentals for PGMs remain robust, with sustained structural deficits driven by resilient automotive demand, jewellery growth, and constrained supply from traditional producers in Southern Africa and Russia. Prices for platinum and palladium have surged significantly in 2025, establishing a new pricing floor that bodes well for projects like Parks Reef.

Navigating Risks and Future Outlook

Despite the promising technical progress and favourable market environment, Podium faces typical industry risks including metallurgical scaling uncertainties, operational challenges, and regulatory compliance. The company’s ability to secure additional funding beyond the current raise remains to be seen, and the impact of native title and environmental approvals could influence timelines.

Podium’s experienced leadership team, with decades of expertise in PGMs and mining engineering, is steering the project through these complexities. The next milestones will be critical – successful pilot plant scale-up, deeper drilling results, and securing strategic partnerships to underpin the commercialisation of Parks Reef.