Podium Minerals has completed Phase 3 optimisation testwork that increases flotation circuit platinum group metals recovery by 31% at its Parks Reef project.

Testing on representative baseload sulphide feed lifted Flotation Circuit 3E recovery—covering platinum, palladium and gold—to 67% from the Phase 2 baseline of 51%. Copper recovery across the flotation stage increased from 47% to 73%.

The improved upfront recovery allows Podium Minerals to reduce the targeted size of its downstream PGM Value Recovery Circuit by approximately 50% and cut power requirements by roughly 40%, while maintaining an overall concentrator recovery of approximately 80% 3E PGM. Total copper recovery through the entire concentrator circuit reached 81%, compared to 52% previously.

“Phase 3 optimisation has delivered a significant step forward in the development of the proposed Parks Reef Concentrator. The 31% relative improvement in Flotation Circuit 3E recovery is an important technical outcome, reflecting our improved understanding of the Parks Reef orebody and the key drivers of flowsheet performance. Importantly, this has been achieved while maintaining approximately 80% overall 3E recovery, demonstrating that comparable metallurgical performance can be delivered through a materially simpler and more efficient Concentrator design.”

— Rod Baxter, Managing Director

The optimisation program also increased the combined concentrator product grade by 18% to 97 g/t 3E PGM, up from the 82 g/t 3E achieved under the Phase 2 baseline flowsheet. The revised process continues to yield two high-grade PGM products with low chrome content, maintaining compatibility with standard refining routes.

Podium Minerals completed a fully underwritten A$7 million entitlement offer in October 2025, providing a cash balance of approximately A$13.2 million to advance the Parks Reef project. Phase 3 metallurgical work is ongoing, with the company advancing validation and variability testing, deep-drill core validation, PGM mineralogical studies and comminution testing across a broader range of representative sulphide composites from the proposed Starter Mine area.

Read the full announcement: Podium Delivers Step-Change in Concentrator Performance