Stratex Resources Ltd. has acquired African Thunder Platinum from an investor consortium led by Pala Investments, securing full ownership of the Kalahari Platinum Project in South Africa.

The transaction gives Stratex Resources a 70 per cent interest in Greenstone Platinum at the asset level and full ownership of Stella Platinum, which owns the land underlying the Kalplats project. Stratex Resources holds 100 per cent of the Kalahari Platinum Project in the North West Province of South Africa, establishing it as a feasibility-stage platinum group metals project. The company intends to develop the asset in partnership with an existing South African platinum group metals developer or producer.

The acquisition remains conditional on receiving Section 11 approval from the South African Department of Mineral Resources and Energy. Stratex Resources does not anticipate that these regulatory approvals will be unreasonably withheld.

The Kalahari Platinum Project is an open-pit platinum group metals development situated in the Kraaipan Greenstone Belt within the North West Province. The asset hosts over 6.288 million ounces of three-element platinum group metals, featuring a metal prill split of 48 per cent palladium, 43 per cent platinum, and 4 per cent gold. Technical studies for the project outline an open-pit operation designed to yield an average of 92,000 ounces per annum over a 12-year mine life, supported by a mineral reserve grade of 2.92 grams per tonne. The project is located 350 kilometres west of Johannesburg and is accessible by major roads, featuring a definitive feasibility study that contemplates a 1.5 million tonnes per annum open-pit operation.

Elsewhere in South Africa's platinum sector, Southern Palladium was granted a 30-year mining right by the South African Department of Mineral and Petroleum Resources for the Bengwenyama PGM-chrome project on 10 August 2026.

Read the full announcement: Stratex Resources Ltd. Announces the Purchase of African Thunder Platinum