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Podium steps up pandemic. Other factors outside of the pan-
demic impacting supply on top of physical in-
vestment demand, meant “platinum’s market
balance are far less negative than previously
to the plate expected”.
“Forecasts of platinum’s supply/demand
balance have moved from surplus to a deficit
of minus 336,000oz this year. Changes will
depend on the timing of, and extent to which,
lockdown measures are wound back, the
likelihood and implication of second waves
of infections, progress towards effective vac-
cines, and lastly, the longer-term implications
of governments economic policy responses
to the pandemic,” WPIC chief executive Paul
Wilson said in the September quarterly.
“Since the platinum and gold price lows
of March 19, 2020, at $US599/oz and
$US1,474/oz respectively, platinum has sig-
nificantly outperformed gold, rising 55% ver-
sus gold’s rise of 33% by the end of August.
At times of crisis this is no anomaly. In the
two years subsequent to the price lows of
the Global Financial Crisis in late 2008, plati-
num’s weekly returns outperformed those of
gold by between 30% and 65%. With invest-
ment demand and platinum’s fundamental
outlook up in 2020, this significantly enhanc-
es the outlook for platinum.”
Russia, the Great Dyke in Zimbabwe
and South Africa’s Bushveld Complex are
the great platinum producing regions of the
Building a high-tonnage PGM operation is Podium’s intention at Parks Reef world, however, all pose an element of juris-
dictional risk for investors and end users.
Dodd believes this jurisdictional risk, cou-
cash balance of $230,000 and the onset Interest in the PGM sector is amplifying pled with geological challenges in South Af-
A of COVID-19 made for a testing start to as the shift towards an emissions-free future rica, could benefit Australian projects such
2020 for Podium Minerals Ltd. around the world intensifies. Platinum’s role as Park Reefs.
But then a discovery with serious PGM in diesel engine emissions controls and as “It doesn’t look as though the big three will
potential near Perth helped Podium on its an electrode material for hydrogen fuel cells be expanding supply and the mines in South
way at the Parks Reef platinum-palladium- make it a potential game-changer. Africa are quite deep and require a lot of
gold-copper project, within the Weld Range Meanwhile, palladium is also an important people,” he said.
Complex in Western Australia’s Mid West. component in emission controls in petrol ve- “Our exploration target is between 3-6
An oversubscribed SPP in June injected hicles, including hybrids. moz [3E PGM] depending on whether we
over $1.5 million into Podium’s coffers, which Recent reports suggest China expects EV concentrate on the top 100m or go down to
now has $2.8 million in the bank. sales to represent 20% of new vehicle sales 200m, but we know [mineralisation] contin-
“We have had enormous support from by 2025 and while the uptake of EVs world- ues on forever and we have a very active 12
shareholders, backed up by Cannacord in wide is also anticipated to accelerate, hybrid months ahead of us.”
Perth and we have done a few corporate vehicles will continue to have a presence on Podium listed in 2018 with the Park Reefs
deals. We have adequate funds to do eve- the roads. project near Meekatharra in tow and up until
rything we want to do from here on. There’s “The EV story is all about Tesla and what now has had to deal with market vagaries,
no need for us to think about our next capital they have done has been excellent. Howev- while other metals of the future and gold
raising at present, we’re fully funded and fully er, the platinum sector is still front and centre have taken the spotlight.
budgeted,” Podium chairman Clayton Dodd and at the end of the day climate change is Nevertheless, the company’s corporate
told Paydirt. all part of it and the ultimate clean metals are advisors upon listing – Cannacord/Pater-
“Chalice [Gold Mines Ltd] waved the flag in PGMs,” Dodd said. sons – have strongly supported the story at
for the PGM sector and it is reflected in their Most of the world’s platinum ends up in Parks Reef, which could become Australia’s
share price with a healthy market capitalisa- the automotive sector followed by industrial first PGM-producing mine.
tion. They have institutions investing in the sector demand (21-26%), jewellery (26-35%) “It is all under mining leases, we have
PGMs space, which hasn’t been seen for and investments (up to 15%), according signed a Native Title agreement. Everything
years and years. to figures reported by the World Platinum is set, we don’t have to go through any of
“Chalice’s discovery has been an abso- Investment Council (WPIC) for the period that. We did all of that when we were a pri-
lute breath of fresh air and demonstrated the 2015-2019. vate company,” Dodd said.
PGM market is alive and well. The market is In September, the WPIC reported the Podium’s $2.8 million cash means it won’t
now turning around and saying PGMs are demand/supply balance had been signifi- have to enter the market for funding in 2021
worth looking at.” cantly reduced year-on-year because of the and can carry on with drilling at Park Reefs

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