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- Last 2026-11-06
- A$1.6
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
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- Mkt cap
- A$211.7M
- EV
- A$187.8M
- Cash
- A$23.9M
- Debt
- A$0
4 newer ASX announcements not yet reflected in this valuation
- Annual Report to shareholdersLatest Annual Report
- Quarterly Activities/Appendix 5B Cash Flow ReportLatest Four Activities Reports
- Southern Palladium presents to Australian Gold ConferenceLatest Operating Presentation
- Material Update in Project Value via Updated PFSRecent Project Economic Study
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Sign in or enter a guest codeAnnouncements
Latest 12 of 27All sources ▸- Quarterly Activities/Appendix 5B Cash Flow ReportResults
- SPD presentation to Noosa Mining Investor ConferencePresentation
- DFS Metallurgical - Outstanding PGM and Chromite RecoveriesStudy
- Notification of cessation of securities - SPDCorporate Action
- Application for quotation of securities - SPDCorporate Action
- Application for quotation of securities - SPDCorporate Action
- Quarterly Activities/Appendix 5B Cash Flow ReportResults
- Positive Results - Bengwenyama DFS Metallurgical Test WorkStudy
- Bengwenyama Project Update - DFS Works Program AdvancingOperations
- Quarterly Activities/Appendix 5B Cash Flow ReportResults
- Quarterly Activities/Appendix 5B Cash Flow ReportResults
- Annual Report to shareholdersResults
Event calendar · next 12 months
3 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Before planned early works by end-2026 | Water-use and waste-management approvals | Permitting | Company Guided | High | Required before box-cut and decline development can begin. |
| Before end-2026, subject to approvals | Early box-cut and decline works | Construction Or Commissioning | Company Guided | High | Demonstrates permitting and execution handoff, but does not resolve full project funding. |
| Q1 2027 | Bengwenyama definitive feasibility study | Study | Company Guided | High | Tests revised chromite recoveries, capex and financeable project economics. |
Executive roster
As of 2026-09-26Background checks ▸FY2025 annual report roster reconciled with April and August 2026 appointments; non-executive directors excluded. Mark Humphery reported as project manager; later Michiel Breed as project director without explicit replacement notice, so both retained as disclosed.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Roger Baxter | Executive Chairman | Executive Director | 2024-10-01 | Annual Report to shareholders · Mining Right Granted for Bengwenyama |
| Johan Odendaal | Managing Director · Chief Executive Officer | Executive Director · Chief Executive | 2021-05-27 | Annual Report to shareholders · Mining Right Granted for Bengwenyama |
| Andrew Cooke | Company Secretary | Company Secretary | — | Annual Report to shareholders |
| Mark Humphery | Project Manager | Senior Management | 2026-04-01 | Project Manager appointment |
| Michiel Breed | Project Director | Senior Management | 2026-09-01 | Mining Right Granted for Bengwenyama |
| France Modau | Underground PGM Mining Manager | Senior Management | 2026-06-01 | Mining Right Granted for Bengwenyama |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
Bengwenyama
South Africa
DFS Unfunded Developer70% ownedPlatinum Group MetalsOthersGoldCopperNickel
Mining right granted 7 August 2026; DFS due Q1 2027; water-use and waste-management approvals, construction finance and final investment decision remain outstanding.
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$857M8% discount
IRR26.4%Published return
Initial capexUS$219MPublished capital estimate
100% project after-tax OPFS, pre-DFS; peak funding US$279m.
Resources & reserves2
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured, Indicated and Inferred combined with 4E-only extension | 241.9 Mt | 4E 4.66 g/t for combined tonnes; 7E only partly assayed | Platinum Group Metals | 2024-10-23 |
| Ore Reserve | Probable | 31.7 Mt | 6E 6.17 g/t | Platinum Group Metals | 2024-10-28 |
Tenements1
Milestones3
- 30-year mining right granted
Achieved · High materiality
- Early box-cut and decline development subject to approvals
Pending · High materiality
- Definitive feasibility study
Pending · High materiality
Permits & approvals4
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Bengwenyama mining right | South Africa | Granted | — | Yes |
| Environmental authorisation | South Africa | Granted | — | Yes |
| Water-use approval for early works | South Africa | Pending | — | Yes |
| Waste-management approval for early works | South Africa | Pending | — | Yes |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Optimised prefesibility study | PFS | Reaffirmed | 2025-07-10 | Staged 100 ktpa to 200 ktpa PGM output concept, 100% after-tax NPV8 US$857m and US$279m peak funding. August 2026 release reaffirmed material assumptions pending DFS. |
| Bengwenyama prefeasibility study | PFS | Superseded | 2024-10-28 | Earlier full-scale PFS superseded by staged OPFS. |
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash covers current studies but is far below the OPFS US$279m peak project funding requirement. MUM cash of A$0.98m is excluded because it is equity accounted.
Capital structure
Ownership and dilution
- Ordinary shares
- 132.3M
- Fully diluted
- 133.5M
132,328,911 issued shares after 600,000 option exercises on 1 June 2026. A further 200,000 A$0.875 options expired unexercised on 8 June. Add 750,000 A$0.70 options and 385,320 nil-strike rights for 133,464,231 current fully diluted shares; future project financing is scenario-modelled separately.
Security classes3
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| ASX quoted ordinary fully paid | Ordinary Share | 132.3M | — | — |
| A$0.70 options expiring 30 September 2027 | Option | 750K | A$0.7 | 2027-09-30 |
| Nil-strike rights expiring 8 December 2030 | Performance Right | 385.3K | A$0 | 2030-12-08 |
Company guidance1
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Definitive Feasibility Study Completion | bengwenyama | Q1 2027 | — | — Q1 2027 | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-06-01 | Raising | A$612.5K | 700K | — | Completed | — |
| 2025-10-20 | Raising | A$20M | — | — | Completed | — |
| 2025-06-19Ann. 2025-06-12 | Raising | A$8M | 16M | — | Completed | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Annual report joint-control note and August mining-right release establish current 70/30 MUM venture; no executed offtake, tolling, hedge, royalty or farm-in terms were identified in selected material issuer releases.
MUM owns 100% of Bengwenyama; SPD receives 70% of project economic value and shares development funding obligations, while community holds 30%.
Joint Venture · Active- Counterparties
- Miracle Upon Miracle Investments (Pty) Ltd · Bengwenyama Traditional Council / community investment vehicle
- Applies to
- Bengwenyama · Platinum Group Metals · Others
- Economic direction
- Mixed
- Period
- From 2022-05-27; no end date stated
- Key terms
- SPD economic ownership: 70 percent
Community direct ownership: 30 percent
Decision control: Unanimous consent over MUM relevant activities
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
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Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
Expanded primary-source review of Southern Palladium’s FY2026 annual report, 2026 issuer announcement register and targeted exact-name searches. The Bengwenyama mining right and the previously documented closed-period trade disclosure are supported by dated filings; the outcome of any external review of that trade was not established.
Decision-relevant facts
Material summary
Roger Baxter
Executive Chairman
GovernanceIssuer Reported · Medium materiality
JSE trades executed during company closed period
The company disclosed that 1,533 shares were acquired on the JSE in two trades dated 23 and 25 September 2025 while a closed period applied before release of the FY2025 financial report. The issuer said Baxter placed orders on 22 September, later realised the restriction, attempted to cancel and believed he had cancelled them; it characterized the transactions as inadvertent. The reviewed filing records disclosure and the issuer explanation but no regulator determination, sanction or later resolution.
Individual involvement documented · The issuer filing identifies Baxter as the director whose share interest changed and reports the explanation attributed to him. No finding of intentional misconduct is established by this source.
Appendix 3Y – Change of Director’s Interest Notice: Roger Baxter · pp. 1–3, issuer explanation and Appendix 3Y details
Company SuccessIssuer Reported · Medium materiality
Bengwenyama mining right granted for an initial 30 years
The company’s FY2026 annual report states that its 70%-owned subsidiary MUM received a 30-year mining right for Bengwenyama on 7 August 2026. Baxter was Executive Chairman and the project’s board-level lead; the records support role overlap with a major permitting milestone, not individual causation.
Role overlaps event; causation unproven · Baxter’s executive-chair tenure overlaps the project milestone. The source does not attribute the regulatory decision solely to him.
Southern Palladium Limited Annual Report 2026 · After Reporting Date Events, p. 18; Directors’ Report, board roles
ASX announcements register · 10 August 2026, “Mining Right Granted for Southern Palladium’s Bengwenyama World-class PGM-Chrome Project”
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Johan Odendaal
Managing Director & CEO
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Andrew Cooke
Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Mark Humphery
Project Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Michiel Breed
Project Director
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
France Modau
Underground PGM Mining Manager
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 2
- Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
- The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2025-10-14 · 106,950,000 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 17.53% | 18,744,701 | |
| 2 | 11.83% | 12,656,992 | |
| 3 | 7.55% | 8,069,394 | |
| 4 | 5.43% | 5,808,930 | |
| 5 | 4.78% | 5,108,194 | |
| 6 | 4.72% | 5,049,498 | |
| 7 | 4.65% | 4,972,321 | |
| 8 | 3.72% | 3,982,822 | |
| 9 | 2.97% | 3,175,584 | |
| 10 | 1.95% | 2,084,490 | |
| 11 | 1.87% | 2,000,000 | |
| 12 | 1.59% | 1,700,000 | |
| 13 | 1.50% | 1,603,316 | |
| 14 | 1.32% | 1,416,448 | |
| 15 | 1.17% | 1,254,965 | |
| 16 | 1.06% | 1,133,333 | |
| 17 | 1.05% | 1,127,010 | |
| 18 | 1.05% | 1,125,651 | |
| 19 | 0.89% | 950,000 | |
| 20 | 0.81% | 866,686 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 16.83%Voting power | 2026-05-04 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- Dated registered-holder list is not a complete beneficial-ownership register. Later substantial-holder notices were not fully reconciled for this candidate.
Sources
- Annual Report to shareholders
ASX / Southern Palladium Limited · Published 2025-10-27 · Accessed 2026-10-09
Issuer top-20 ordinary-shareholder table as at 2025-10-14.
2025/2025-10-27_Annual Report to shareholders.pdf, PDF page 55; ordinary shareholder information
- Change of Interests of Substantial Holder - Robert Keith
ASX / Southern Palladium Limited · Published 2026-05-14 · Accessed 2026-10-09
Robert Keith and Charles Street International report 22,132,899 shares and 16.83% diluted voting power as at 4 May 2026.
2026/2026-05-14_Change of Interests of Substantial Holder - Robert Keith_8e40272b5258fa27.pdf, Form 604 sections 1–4
Disclosed activity
Insider transactions
Trading activity15 buys · 9 sells shownNet cash last 12 months −A$1.6mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-08-13 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2026-08-13As disclosed: On-market disposal of 6,840 ordinary shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Robert Thomson ↗ | SaleOrdinary shares | 6,840 | AUD 14,227.20 | AUD 2.08Disclosed price | 1,545,170 |
| 2026-07-29 | Daan van Heerden
Details & evidence for Daan van Heerden on 2026-07-29As disclosed: Off-market acquisition from family member for $0.00
director · Start not disclosed Change of Director's Interest Notice - Daan van Heerden ↗ | Transfer InOrdinary shares | 20,000 | —Non Cash | — | 120,000 |
| 2026-05-28 | Daan van Heerden
Details & evidence for Daan van Heerden on 2026-05-28As disclosed: Issue of 100,000 fully paid ordinary shares on exercise
director · Start not disclosed Change of Director's Interest Notice - Daan van Heerden ↗ | ExerciseOrdinary shares | 100,000 | —Non Cash | — | 100,000 |
| 2026-05-28 | Daan van Heerden
Details & evidence for Daan van Heerden on 2026-05-28As disclosed: Exercise of 100,000 Series B options
director · Start not disclosed Change of Director's Interest Notice - Daan van Heerden ↗ | ExerciseSeries B options | 100,000 | AUD 87,500.00 | AUD 0.875Disclosed price | 0 |
| 2026-05-27 | Johan Odendaal
Details & evidence for Johan Odendaal on 2026-05-27As disclosed: Issue of 100,000 fully paid ordinary shares on exercise
director · Start not disclosed Nicolas Daniel Resources Pty Ltd · indirect interest through Nicolas Daniel Resources Change of Director's Interest Notice - Johan Odendaal ↗ | ExerciseOrdinary shares | 100,000 | —Non Cash | — | — |
| 2026-05-27 | Johan OdendaalNicolas Daniel Resources Pty Ltd
Details & evidence for Johan Odendaal on 2026-05-27As disclosed: Exercise of 100,000 Series B options
director · Start not disclosed Nicolas Daniel Resources Pty Ltd · indirect interest through Nicolas Daniel Resources Change of Director's Interest Notice - Johan Odendaal ↗ | ExerciseSeries B options | 100,000 | AUD 87,500.00 | AUD 0.875Disclosed price | — |
| 2026-05-27 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-27As disclosed: On-market purchase of 10,000 ordinary shares
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 10,000 | AUD 15,200.00 | AUD 1.52Disclosed price | 206,277 |
| 2026-05-26 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2026-05-26As disclosed: On-market disposal of 61,000 ordinary shares
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas ↗ | SaleOrdinary shares | 61,000 | AUD 86,010.00 | AUD 1.41Disclosed price | 382,300 |
| 2026-05-21 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-21As disclosed: On-market purchase of 5,000 ordinary shares at AUD 1.510
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 5,000 | AUD 7,550.00 | AUD 1.51Disclosed price | — |
| 2026-05-20 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-20As disclosed: On-market purchase of 10,000 ordinary shares at AUD 1.545
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 10,000 | AUD 15,450.00 | AUD 1.545Disclosed price | — |
| 2026-05-11 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2026-05-11As disclosed: Exercise of 1,000,000 Series A and 100,000 Series B options
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | ExerciseSeries A and Series B options | 1,100,000 | AUD 962,500.00 | — | — |
| 2026-05-11 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2026-05-11As disclosed: Issue of 1,100,000 ordinary shares on exercise
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | ExerciseOrdinary shares | 1,100,000 | —Non Cash | — | — |
| 2026-05-11 | Mike StirzakerStith account
Details & evidence for Mike Stirzaker on 2026-05-11As disclosed: Exercise of 1,000,000 Series A and 100,000 Series B options
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | ExerciseSeries A and Series B options | 1,100,000 | AUD 962,500.00 | — | — |
| 2026-05-11 | Mike StirzakerStith account
Details & evidence for Mike Stirzaker on 2026-05-11As disclosed: Issue of 1,100,000 ordinary shares on exercise
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | ExerciseOrdinary shares | 1,100,000 | —Non Cash | — | — |
| 2026-05-11 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-11As disclosed: On-market purchase of 5,000 ordinary shares at AUD 1.550
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 5,000 | AUD 7,750.00 | AUD 1.55Disclosed price | — |
| 2026-05-08 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-08As disclosed: On-market purchase of 10,000 ordinary shares at AUD 1.600
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 10,000 | AUD 16,000.00 | AUD 1.6Disclosed price | — |
| 2026-05-07 | Mike StirzakerGrafton Bond account
Details & evidence for Mike Stirzaker on 2026-05-07As disclosed: Off-market transfer of 100,000 ordinary shares
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | Transfer OutOrdinary shares | 100,000 | —Non Cash | — | — |
| 2026-05-06 | Roger Baxter
Details & evidence for Roger Baxter on 2026-05-06As disclosed: On-market purchase of 10,000 ordinary shares at AUD 1.680
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 10,000 | AUD 16,800.00 | AUD 1.68Disclosed price | — |
| 2026-05-04 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2026-05-04As disclosed: On-market sale of 675,000 ordinary shares at AUD 1.50
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | SaleOrdinary shares | 675,000 | AUD 1,012,500.00 | AUD 1.5Disclosed price | — |
| 2026-05-04 | Mike StirzakerStith account
Details & evidence for Mike Stirzaker on 2026-05-04As disclosed: On-market sale of 383,333 ordinary shares at AUD 1.50
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | SaleOrdinary shares | 383,333 | AUD 574,999.50 | AUD 1.5Disclosed price | — |
| 2025-12-08 | Roger Baxter
Details & evidence for Roger Baxter on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | GrantPerformance rights | 275,229 | —Non Cash | — | — |
| 2025-12-08 | Robert (Rob) Thomson
Details & evidence for Robert (Rob) Thomson on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Robert Thomson ↗ | GrantZero Exercise Price Options | 96,330 | —Non Cash | — | — |
| 2025-12-08 | Mike Stirzaker
Details & evidence for Mike Stirzaker on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | GrantZero Exercise Price Options | 96,330 | —Non Cash | — | — |
| 2025-12-08 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas SC ↗ | GrantZero Exercise Price Options | 96,330 | —Non Cash | — | — |
| 2025-12-08 | Johan Odendaal
Details & evidence for Johan Odendaal on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Nicolas Daniel Resources Pty Ltd · indirect interest through Nicolas Daniel Resources Change of Director's Interest Notice - Johan Odendaal ↗ | GrantPerformance rights | 302,752 | —Non Cash | — | — |
| 2025-12-08 | Daan van Heerden
Details & evidence for Daan van Heerden on 2025-12-08As disclosed: Issue of securities for nil consideration
director · Start not disclosed Change of Director's Interest Notice - Daan van Heerden ↗ | GrantZero Exercise Price Options | 96,330 | —Non Cash | — | — |
| 2025-11-20 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2025-11-20As disclosed: On-market purchase of 46,800 ordinary shares
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas ↗ | PurchaseOrdinary shares | 46,800 | AUD 44,460.00 | AUD 0.95Disclosed price | 443,300 |
| 2025-09-23 | Roger Baxter
Details & evidence for Roger Baxter on 2025-09-23As disclosed: JSE on-market purchases
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 1,533 | AUD 933.93 | AUD 0.61Disclosed price | — |
| 2025-05-28 | Roger Baxter
Details & evidence for Roger Baxter on 2025-05-28As disclosed: JSE on-market acquisition of 50,000 shares
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 50,000 | AUD 17,500.00 | AUD 0.35Disclosed price | — |
| 2025-05-26 | Roger Baxter
Details & evidence for Roger Baxter on 2025-05-26As disclosed: On-market purchase of 724 shares at AUD 0.410
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 724 | AUD 296.84 | AUD 0.41Disclosed price | — |
| 2025-05-26 | Roger Baxter
Details & evidence for Roger Baxter on 2025-05-26As disclosed: On-market purchase of 34,644 shares at AUD 0.400
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 34,644 | AUD 13,857.60 | AUD 0.4Disclosed price | — |
| 2025-05-21 | Roger Baxter
Details & evidence for Roger Baxter on 2025-05-21As disclosed: On-market purchase of 20,909 shares at AUD 0.265
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 20,909 | AUD 5,540.89 | AUD 0.265Disclosed price | — |
| 2025-05-07 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2025-05-07As disclosed: Off-market transfer of 233,343 shares to associated account
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Robert Thomson ↗ | Transfer InOrdinary shares | 233,343 | —Non Cash | — | — |
| 2024-12-20 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-12-20As disclosed: Sale of 15,000 shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Robert Thomson ↗ | SaleOrdinary shares | 15,000 | AUD 9,153.00 | AUD 0.6102Disclosed price | — |
| 2024-12-19 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-12-19As disclosed: Sale of 21,700 shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Robert Thomson ↗ | SaleOrdinary shares | 21,700 | AUD 12,043.50 | AUD 0.555Disclosed price | — |
| 2024-12-17 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-12-17As disclosed: Sale of 22,300 shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | SaleOrdinary shares | 22,300 | AUD 13,380.00 | AUD 0.6Disclosed price | — |
| 2024-12-13 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-12-13As disclosed: Sale of 14,000 shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | SaleOrdinary shares | 14,000 | AUD 8,166.20 | AUD 0.5833Disclosed price | — |
| 2024-12-10 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-12-10As disclosed: Sale of 100,000 shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | SaleOrdinary shares | 100,000 | AUD 61,250.00 | AUD 0.6125Disclosed price | — |
| 2024-12-10 | Roger Baxter
Details & evidence for Roger Baxter on 2024-12-10As disclosed: On-market purchase of 100,000 shares
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | PurchaseOrdinary shares | 100,000 | AUD 61,250.00 | AUD 0.6125Disclosed price | — |
| 2024-11-28 | Roger Baxter
Details & evidence for Roger Baxter on 2024-11-28As disclosed: Issue of options
director · Start not disclosed Change of Director's Interest Notice - Roger Baxter ↗ | GrantOptions | 250,000 | —Non Cash | — | — |
| 2024-11-28 | Mike StirzakerStith account
Details & evidence for Mike Stirzaker on 2024-11-28As disclosed: Issue of options
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | GrantOptions | 125,000 | —Non Cash | — | — |
| 2024-11-28 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2024-11-28As disclosed: Issue of options
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas ↗ | GrantOptions | 125,000 | —Non Cash | — | — |
| 2024-11-28 | Johan Odendaal
Details & evidence for Johan Odendaal on 2024-11-28As disclosed: Issue of options
director · Start not disclosed Nicolas Daniel Resources Pty Ltd · indirect interest through Nicolas Daniel Resources Change of Director's Interest Notice - Johan Odendaal ↗ | GrantOptions | 125,000 | —Non Cash | — | — |
| 2024-11-28 | Daan van Heerden
Details & evidence for Daan van Heerden on 2024-11-28As disclosed: Issue of options
director · Start not disclosed Change of Director's Interest Notice - Daan van Heerden ↗ | GrantOptions | 125,000 | —Non Cash | — | — |
| 2024-11-15 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2024-11-15As disclosed: Acquired 138,500 ordinary shares
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas ↗ | PurchaseOrdinary shares | 138,500 | AUD 83,931.00 | AUD 0.606Disclosed price | 396,500 |
| 2024-11-11 | Robert (Rob) ThomsonMonterey Consolidated Services <Lorodaca Super Fund A/C>
Details & evidence for Robert (Rob) Thomson on 2024-11-11As disclosed: Conversion of 400,000 performance rights to ordinary shares
director · Start not disclosed Monterey Consolidated Services <Lorodaca Super Fund A/C> · share interests held through associated super fund account Change of Director's Interest Notice - Rob Thomson ↗ | VestingPerformance rights | 400,000 | —Non Cash | — | — |
| 2024-11-11 | Mike StirzakerStith account
Details & evidence for Mike Stirzaker on 2024-11-11As disclosed: Conversion of 400,000 performance rights to ordinary shares
director · Start not disclosed Stith account · director interest held through Stith account Grafton Bond account · director interest held through Grafton Bond account Change of Director's Interest Notice - Mike Stirzaker ↗ | VestingPerformance rights | 400,000 | —Non Cash | — | — |
| 2024-06-21 | Lindi Nkosi-Thomas
Details & evidence for Lindi Nkosi-Thomas on 2024-06-21As disclosed: Acquired 258,000 shares
director · Start not disclosed Change of Director's Interest Notice - Lindi Nkosi-Thomas ↗ | PurchaseOrdinary shares | 258,000 | AUD 113,520.00 | AUD 0.44Disclosed price | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory33 documents
ASX SPD ordinary share price history through 25 September 2026Market Data · HighExtracted
Local ASX price history obtained with miners.reference_price; September 25 is latest eligible close.
- Document ID
- spd-2026-09-25-close
- Published UTC
- 2026-09-25T06:00:00Z
- Projects
- —
- Commodities
- —
Southern Palladium presents to Africa Down UnderPresentation · HighMetadata Only
Issuer ASX listing identifies the presentation; linked PDF could not be accessed for extraction.
- Document ID
- spd-2026-09-02-africa-down-under
- Published UTC
- 2026-09-01T23:00:00Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Mining Right Granted for BengwenyamaPermitting · HighExtracted
Mining right granted for 30 years; other early-work approvals and DFS remain outstanding.
- Document ID
- spd-2026-08-10-mining-right
- Published UTC
- 2026-08-09T23:00:00Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Bridge Street Capital mining-right noteOther · HighMetadata Only
Issuer broker-report listing identifies an August 2026 Bridge Street note; linked PDF was inaccessible.
- Document ID
- spd-2026-08-10-bridge-street
- Published UTC
- 2026-08-09T23:00:00Z
- Projects
- —
- Commodities
- —
Quarterly Activities/Appendix 5B Cash Flow ReportResults · HighExtracted
Issuer release reviewed: Quarterly Activities/Appendix 5B Cash Flow Report.
- Document ID
- spd-2026-07-30-quarterly
- Published UTC
- 2026-07-30T04:12:15Z
- Projects
- —
- Commodities
- —
SPD presentation to Noosa Mining Investor ConferencePresentation · HighExtracted
Issuer release reviewed: SPD presentation to Noosa Mining Investor Conference.
- Document ID
- spd-2026-07-23-noosa
- Published UTC
- 2026-07-23T00:33:21Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
DFS Metallurgical - Outstanding PGM and Chromite RecoveriesStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from DFS Metallurgical - Outstanding PGM and Chromite Recoveries.
- Document ID
- spd-2026-07-09-dfs-metallurgy
- Published UTC
- 2026-07-08T22:23:48Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Notification of cessation of securities - SPDCorporate Action · HighExtracted
Issuer release reviewed: Notification of cessation of securities - SPD.
- Document ID
- spd-2026-06-09-options-expiry
- Published UTC
- 2026-06-08T23:43:36Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - SPDCorporate Action · HighExtracted
Issuer release reviewed: Application for quotation of securities - SPD.
- Document ID
- spd-2026-06-01-quotation
- Published UTC
- 2026-06-01T07:03:05Z
- Projects
- —
- Commodities
- —
Application for quotation of securities - SPDCorporate Action · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Application for quotation of securities - SPD.
- Document ID
- spd-2026-05-28-quotation-may
- Published UTC
- 2026-05-28T02:46:03Z
- Projects
- —
- Commodities
- —
Quarterly Activities/Appendix 5B Cash Flow ReportResults · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Quarterly Activities/Appendix 5B Cash Flow Report.
- Document ID
- spd-2026-04-29-quarterly-march
- Published UTC
- 2026-04-28T22:55:07Z
- Projects
- —
- Commodities
- —
Positive Results - Bengwenyama DFS Metallurgical Test WorkStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Positive Results - Bengwenyama DFS Metallurgical Test Work.
- Document ID
- spd-2026-04-15-metallurgy-april
- Published UTC
- 2026-04-14T22:45:19Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Project Manager appointmentLeadership · HighExtracted
Mark Humphery appointed project manager reporting to Johan Odendaal.
- Document ID
- spd-2026-04-01-project-manager
- Published UTC
- 2026-03-31T23:00:00Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Bengwenyama Project Update - DFS Works Program AdvancingOperations · HighExtracted
Issuer release reviewed: Bengwenyama Project Update - DFS Works Program Advancing.
- Document ID
- spd-2026-02-05-dfs-update
- Published UTC
- 2026-02-04T21:20:30Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Quarterly Activities/Appendix 5B Cash Flow ReportResults · HighExtracted
Issuer release reviewed: Quarterly Activities/Appendix 5B Cash Flow Report.
- Document ID
- spd-2026-01-30-quarterly-december
- Published UTC
- 2026-01-29T23:43:39Z
- Projects
- —
- Commodities
- —
Evolution Capital initiating coverageOther · HighExtracted
Independent January 2026 research used a materially higher payable basket and aggressive schedule; later issuer evidence supersedes its mining-right and DFS dates.
- Document ID
- spd-2026-01-27-evolution-research
- Published UTC
- 2026-01-26T23:00:00Z
- Projects
- —
- Commodities
- —
Quarterly Activities/Appendix 5B Cash Flow ReportResults · HighExtracted
Issuer release reviewed: Quarterly Activities/Appendix 5B Cash Flow Report.
- Document ID
- spd-2025-10-30-quarterly-september
- Published UTC
- 2025-10-29T22:53:28Z
- Projects
- —
- Commodities
- —
Annual Report to shareholdersResults · HighExtracted
Issuer release reviewed: Annual Report to shareholders.
- Document ID
- spd-2025-10-27-annual
- Published UTC
- 2025-10-27T05:26:42Z
- Projects
- —
- Commodities
- —
Bengwenyama DFS Drilling UnderwayOperations · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Bengwenyama DFS Drilling Underway.
- Document ID
- spd-2025-09-02-bengwenyama-dfs-drilling-underway
- Published UTC
- 2025-09-01T22:20:36Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Bengwenyama Optimised PFS Non-deal Roadshow PresentationPresentation · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Bengwenyama Optimised PFS Non-deal Roadshow Presentation.
- Document ID
- spd-2025-07-15-opfs-presentation
- Published UTC
- 2025-07-15T01:16:11Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Optimised PFS via staged development with NPV of US$857mOperations · HighExtracted
Issuer release reviewed: Optimised PFS via staged development with NPV of US$857m.
- Document ID
- spd-2025-07-10-opfs
- Published UTC
- 2025-07-09T22:24:32Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
A$8m Placement to accelerate DFS and Bengwenyama ProjectFinancing · HighExtracted
Issuer release reviewed: A$8m Placement to accelerate DFS and Bengwenyama Project.
- Document ID
- spd-2025-06-12-placement
- Published UTC
- 2025-06-11T23:17:04Z
- Projects
- —
- Commodities
- —
Half Yearly Report and AccountsResults · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Half Yearly Report and Accounts.
- Document ID
- spd-2025-03-11-half-yearly-report-and-accounts
- Published UTC
- 2025-03-11T08:59:34Z
- Projects
- —
- Commodities
- —
Bengwenyama Pre-Feasibility Study Project NPV of US$1.059bnStudy · HighExtracted
Issuer release reviewed: Bengwenyama Pre-Feasibility Study Project NPV of US$1.059bn.
- Document ID
- spd-2024-10-28-pfs
- Published UTC
- 2024-10-27T21:46:30Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Bengwenyama PGM Mineral Resource (UG2 & MR) now 40.25MozResource Update · HighExtracted
Issuer release reviewed: Bengwenyama PGM Mineral Resource (UG2 & MR) now 40.25Moz.
- Document ID
- spd-2024-10-23-resource
- Published UTC
- 2024-10-22T21:22:23Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Investor Presentation - Bengwenyama Mineral Resource UpdateResource Update · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Investor Presentation - Bengwenyama Mineral Resource Update.
- Document ID
- spd-2024-08-28-investor-presentation-bengwenyama-minera
- Published UTC
- 2024-08-27T23:45:48Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Completion of Successful PFS Drilling Campaign - AmendedOperations · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Completion of Successful PFS Drilling Campaign - Amended.
- Document ID
- spd-2024-06-24-completion-of-successful-pfs-drilling-ca
- Published UTC
- 2024-06-23T23:19:55Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Completion of Successful PFS Drilling CampaignOperations · MediumExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Completion of Successful PFS Drilling Campaign.
- Document ID
- spd-2024-06-18-completion-of-successful-pfs-drilling-ca
- Published UTC
- 2024-06-17T22:40:41Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Prefeasibility Study advancing - 30,000m drilling completedStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Prefeasibility Study advancing - 30,000m drilling completed.
- Document ID
- spd-2024-04-03-prefeasibility-study-advancing-30-000m-d
- Published UTC
- 2024-04-02T21:23:16Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Addendum Bengwenyama Project Scoping StudyStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Addendum Bengwenyama Project Scoping Study.
- Document ID
- spd-2024-02-12-addendum-bengwenyama-project-scoping-stu
- Published UTC
- 2024-02-12T05:48:36Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Bengwenyama Project Scoping StudyStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Bengwenyama Project Scoping Study.
- Document ID
- spd-2024-02-01-bengwenyama-project-scoping-study
- Published UTC
- 2024-01-31T21:20:04Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
UG2 Indicated Mineral Resource doubles to 6.52 Moz (7E)Resource Update · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from UG2 Indicated Mineral Resource doubles to 6.52 Moz (7E).
- Document ID
- spd-2023-12-07-ug2-indicated-mineral-resource-doubles-t
- Published UTC
- 2023-12-06T22:20:02Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Geotechnical Study Establishes Mine Design ParametersStudy · HighExtracted
Issuer release reviewed for valuation relevance; no separate current material input extracted from Geotechnical Study Establishes Mine Design Parameters.
- Document ID
- spd-2023-10-23-geotechnical-study-establishes-mine-desi
- Published UTC
- 2023-10-22T21:23:42Z
- Projects
- bengwenyama
- Commodities
- platinum_group_metals · others
Evidence facts44
23879000 AUD
2026-06-30980000 AUD
2026-06-30Q1 2027 None
2026-07-3085.6 percent
2026-07-3087.6 percent
2026-07-30132328911 shares
2026-07-096.29 Moz
2024-10-2840.25 Moz
2024-10-23200000 options
2026-06-08132328911 shares
2026-06-01385320 rights
2026-06-01750000 options
2026-06-01August 2026 None
2026-02-0520000000 AUD
2025-12-311.1 AUD/share
2025-12-3120000000 AUD
2025-10-207260000 AUD
2025-10-2770 percent
2025-06-30Roger Baxter; Johan Odendaal None
2025-10-27Andrew Cooke None
2025-10-27True None
2025-06-30857000000 USD
2025-07-10279000000 USD
2025-07-10219000000 USD
2025-07-101557 USD/6E oz
2025-07-10225 USD/t
2025-07-108000000 AUD
2025-06-1216000000 shares
2025-06-120.5 AUD/share
2025-06-126.29 Moz 6E
2024-10-2840.25 Moz
2024-10-23True None
2026-08-0770 percent
2026-08-10Q1 2027 None
2026-08-10True None
2026-08-10Michiel Breed; France Modau None
2026-08-10Mark Humphery None
2026-04-012.03 AUD/share
2026-09-25307433 shares
2026-09-251.66 AUD/share
2026-08-052.13 AUD/share
2026-08-101922 USD/oz
2026-01-2785 percent
2026-01-27Q2 2026 None
2026-01-27Conflicts requiring judgment1
- DFS timing
August mining-right release supersedes the February end-August 2026 DFS target with first-quarter 2027 completion.