Southern Palladium (ASX: SPD) has successfully raised AU$8 million via a strategic placement of 16 million shares at AU$0.50 each. This placement was supported by a cornerstone AU$4.6 million investment from one of its largest shareholders, along with strong backing from both new and existing institutional investors. The funds will bolster the company’s Definitive Feasibility Study (DFS) and staged mine development for the Bengwenyama PGM project.
Priced at no discount to the prior close and at a 10.5% premium to the 10-day VWAP, the raise reflects investor confidence and minimizes dilution. The capital will help fast-track an optimised Pre-Feasibility Study (PFS), advance DFS activities, and support early development stages following the recent Environmental Authorisation for mining. With disciplined capital management and a strong project foundation, Southern Palladium is positioning Bengwenyama as a leading greenfield PGM development in the Bushveld Complex.
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