Podium Minerals (ASX:POD) unveils breakthrough concentrator flowsheet delivering ~80% 3E recovery at Parks Reef

Podium Minerals Limited (ASX:POD) has announced a major breakthrough in the development of its Parks Reef PGM Project in Western Australia, unveiling a new concentrator flowsheet that has achieved approximately 80% recovery of platinum, palladium and gold (3E) in laboratory testing.

The results also demonstrated strong copper recoveries and delivered two discrete high-grade products totalling 82 g/t 3E with characteristics that are expected to be compatible with established PGM refiners.

This achievement marks a significant step forward for the project, providing a clear pathway towards generating commercial-ready products.

To provide further clarity for investors, the Company has addressed a number of key questions.

What is the key significance of achieving ~80% 3E recovery at Parks Reef?

The ability of Podium’s game-changing Concentrator Flowsheet to achieve around 80% recovery of platinum, palladium and gold from Parks Reef represents a pivotal milestone in demonstrating the quality of the resource and the expertise of our global team.

Test work on bulk sulphide material with a head grade of 1.65 g/t 3E delivered recoveries of 76% platinum, 83% palladium and 81% gold, with additional copper recovery of 52%, and delivers a combined product grade totalling 82 g/t 3E, representing a fifty-fold upgrade on the feed material.

“This new, innovative flowsheet achieves an impressive ~80% recovery of our key elements, platinum, palladium, and gold (3E), and delivers an outstanding fifty-fold upgrade of Parks Reef feed.”

What makes the new concentrator flowsheet unique compared to standard PGM processes?

The Concentrator utilises proven technology tailored specifically to the mineralogy of Parks Reef and combines two complementary processing circuits.

The Flotation Circuit recovers floating PGMs and base metals into a concentrate grading 57 g/t 3E at a 1.6% mass pull, with an ultra-low chrome content of 0.12% that is expected to improve compatibility with existing PGM refiners.

The PGM Value Recovery Circuit then targets the non-floating PGMs and base metals from flotation tails, using magnetic separation, cyanide leaching and activated carbon recovery.

Laboratory results confirmed about 97% of PGMs were recovered onto carbon, producing a notional high-grade concentrate of 3,169 g/t 3E and 75% nickel. Together, the two circuits ensure robustness, adaptability and high overall recovery performance.

How does this development change the commercial opportunities for Podium?

The Concentrator provides Podium with the potential to monetise Parks Reef through multiple commercial pathways. The high-grade Concentrator products could be sold directly, toll refined or blended into the product streams of existing PGM producers and refiners.

The ultra-low chrome content improves marketability, while the adaptability of the flowsheet allows efficient processing across different mineralised zones.

“The potential production of high-grade, market-ready products increases our strategic options, allowing Podium to pursue different commercial arrangements as the project progresses, including direct sales, toll refining, or blending with the established product streams of existing PGM producers and refiners.”

What are the next technical steps to advance the project?

Podium Minerals will progress to larger scale batch-continuous trials to validate performance, confirm recoveries and generate the engineering data required for plant design and economic studies.

Test work will also be undertaken on the other mineralised zones within Parks Reef (high-grade, oxide, copper-gold zones) to pave the way for further optionality and opportunities to maximise returns.

These steps are expected to accelerate the company’s pathway towards feasibility, and deliver product samples for engagement with offtake partners.

How do global market conditions support Podium’s progress with Parks Reef?

The Company’s significant advancement in developing Parks Reef coincides with increasingly tightened global PGM market conditions, providing a favourable backdrop.

Platinum, palladium and rhodium are now in their third consecutive year of deficits, driven by strong demand, constrained supply and declining surface stocks.

Platinum reached ten-year highs in July, highlighting how shortages are impacting prices and Industry projections indicate that platinum deficits are likely to continue through to the end of the decade.

Turning to market dynamics, the PGM sector continues to experience tightening market conditions, fuelled by resilient demand, weakening supply, and depleting surface stocks – all of which is driving persistent market deficits for the key PGMs, triggering a welcomed price recovery.

Podium’s latest metallurgical breakthrough comes at a time when the world is seeking reliable PGM feedstock.

We are well-placed to capitalise on these favourable conditions, and we expect that our game-changing Concentrator will attract significant market attention, sparking increased global interest and accelerating development momentum at Parks Reef.

Building on strong foundations

This achievement establishes a process to deliver high-value products and creates multiple commercial opportunities for Podium and adds to several important milestones delivered this year.

These include the acquisition of the Range Well Nickel Project, joining the prestigious World Platinum Investment Council alongside leading global PGM producers, and establishing a new mineral resource estimate for the substantial Copper-Gold Zone situated directly above the existing PGM Zone.

Together, these achievements strengthen the Company’s position as it advances Parks Reef through further testing and development, while global market conditions reinforce the strategic importance of new, reliable sources of platinum group metals.

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