Podium Minerals (ASX:POD) Completes EV Nickel Acquisition and Joins WPIC
Strategic Developments
Podium Minerals has become the first Australian PGM developer to join the World Platinum Investment Council. Additionally, the Company successfully completed the EV Nickel transaction, acquiring all of EV Nickel’s assets and securing Johnson Matthey plc as a substantial shareholder with a 16.3% holding.
Project Activities
Podium commenced Phase 2 of the flotation test work program at the Parks Reef Project, utilizing diamond core from recent metallurgical drilling to enhance PGM recovery and waste rejection.
Safety and Sustainability
The Company reported zero reportable injuries and zero environmental or heritage-related incidents for the quarter ended 31 March 2025, maintaining its strong performance in safety and sustainability.
Financial Performance
As of 31 March 2025, Podium held 681,410,611 ordinary shares on issue and maintained $2.22 million in cash on hand.
Executive Comments
Executive Chairman Rod Baxter commented, “Podium’s project activities remain focused on the development of the flotation circuit for Parks Reef. Current test work on diamond core metallurgical samples is progressing improvements in PGM recovery and gangue rejection at reduced concentrate mass pull. The aim is to develop a flotation circuit to produce a PGM concentrate for further beneficiation in Podium’s downstream circuit. The Company has also made significant progress in its growth and transformation strategies, having recently completed the transformational acquisition of EV Nickel’s assets. Furthermore, Podium is the first Australian PGM developer to join the WPIC, which includes existing PGM producers such as Anglo American Platinum amongst its membership. The impact of tariffs and trade policy shifts has sparked short-term investor uncertainty and heightened global market volatility. On a positive note, by virtue of their designation as ‘critical minerals’, PGM metals imported into the US are exempt from proposed tariffs.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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