Podium Minerals Limited


Primary ticker: ASX:POD
Stage of development: Exploration, Development
Primary minerals: PGM’s
Project to promote: The Park Reef 5E PGM Project
Project location: Australia
Website: podiumminerals.com

Podium Minerals is planning to become Australia’s first platinum group metals (PGM producer. The significant scale and grade of the Parks Reef Resource provides Podium the opportunity to support an emerging and responsible Australian critical metals mining industry.

The Parks Reef 5E PGM Project is a 15km long platinum group metal deposit which also contains gold and base metal (Cu, Ni & Co) mineralisation. The orebody commences near surface and to date has been proven to continue to approximately 500m vertical depth, which remains open and shows consistency with near surface geology.

Cash: AUD$6.5M

Debt: NIL

Major shareholders:

Kaolin Ct Pty Ltd – 3.91%
BNP Paribas Noms Pty Ltd – 3.96%
Chesapeake Capital Ltd – 3.66%
Kefco Nominees Pty Ltd – 3.64%
Original Resources Pyt Ltd – 3.17%
Management ownership – 14.46%

Management Profile

Sam Rodda – Managing Director and CEO
Sam holds a Mining Engineering and Geology Degrees from University of South Australia and has 20 years in Operational and Technical Management from WMC, BHP and recently with MMG. Sam’s highlights include delivering the Dugald River Zn/Pb mine in QLD ahead of time and under budget in 2017.

Clayton Dodd – Executive Chairman
Mr Clayton Dodd is a chartered accountant with more than 30 years’ experience in finance and resources in Australia, South Africa and South America. He has held directorships in public companies listed on AIM, the ASX, the TSX and the JSE

What is your rationale for taking part 121 Mining Investment?

121 Mining Investment was recommended by our existing Stockbroker (Canaccords) and some of our significant shareholders as a great platform to connecting into new investors interested in identifying strong, early developers in metals supporting new technology and a decarbonised world.

Podium is looking for additional investors, on market support and starting the process to identify the right cornerstone investors to enable uninhibited growth in the company moving into PFS and Development.

What recent news would you like to highlight to investors attending?

Podium has recently finished drilling out its stage 9 & 10 drill programs with 100% success rate targeted at delivering its Exploration Target of 2.7 – 3.8Moz of PGM’s in addition to its existing resource of 3Moz. ASX results 22, 29 July, 18 August

Podium has also recently updated its mineral resource to include the high value elements of Rh, Ir and Co adding >40% value to its weighted price per ounce and becoming Australias first 5E PGM project – ASX announcement 2 August

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

– 5E PGM drill results from Stage 10
– Deliver of significant updated PGM resource
– Update to Market on preferred processing route to market for PGM product

6 Months:

– Scoping Study commencement – preliminary design work
– Mining optimisation work (O/Cut & UG)
– Processing progress on precipitation (product) methods, results to inform smelters/refineries of results and products

12 Months:

– Updated resource drilling for confidence towards increased ore reserves
– Scoping Study results for internal review and to inform PFS
– Processing optimisation and bulk sampling
– Exploration holes to increase confidence in orebody at depth

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The key risks is timely delivery of capital funding to support uninterrupted progress towards PFS, the path is well understood and management are looking at opportunities to streamline this funding and pathway to unlock greater value quicker in a path to construction

Processing PGMs in Australia has not previously been proven, whilst existing processes are understood globally and locally, test work is required to apply these to Australian PGM orebodies to maximise metal recovery and value. Podium is exploring 3 streams in parallel but have a preferred path being optimised for value and operability to improve confidence in the project

What do you think makes your company such a compelling investment?

Podium has a significant orebody (15km length, ~15m ore body width) that is steeply dipping enabling high production, low cost mining extraction. The orebody is near surface and open at depth. The inherent value of the PGMs and Base Metals provide Podium with the confidence that this mix of precious and battery metals will withstand different commodity cycles. The use of PGM’s currently support a decarbonised world through use in autocatlysts and are fundamental to the hydrogen economy.

Podium is well placed for early investment representing value compared to known PGM peers such as Chalice. Podium is planning to have a resource in the order of 50% chalice (but open at depth), with a higher grade and existing Mining Leases and Native Title in place for relatively quick transition to Operation

What are the top 3 key investor takeaways?

– Great orebody – size and value
– Pathway to development well understood, supported by a management team with development experience
– Mix of Critical Minerals supporting current and future technologies in the ESG environment