Thought tonight I would have a look at POD and at the same time as doing my research, write a VERY SIMPLE Summary which may be of some benefit to new investors in POD or those contemplating getting onboard...
At this point in writing my summary, I know only two things of POD...
* It is a company on the ASX * Somebody I respect very much is here
The purpose of writing this summary is for me to learn on the way...and then obviously make a decision if I want to invest some of my earned cash into this company...
Disclosure: I am not a geologist, nor am I a professional Investor. Please do your own Due Diligence before making any investment decisions. The purpose of this post is merely intended as a BASIC Summary in which you may use as a starting point for your additional research
Who are Podium Minerals?
Podium Minerals Limited is an ASX listed exploration and resources development company focused on platinum group metals, gold and base metals with its 100% owned extensive Parks Reef PGM Project (15km strike of near surface platinum group metals) strategically located in the Mid West Region of Western Australia.
POD is targeting high value metals with strong market fundamentals and growth prospects with a strategy to rapidly develop an alternative supply of PGMs to the world market.
Podium's core projects are located within its mining leases covering an area of 77km2 over the entire Weld Range Complex (WRC). The WRC lies approximately 40km west of the Great Northern Highway midway between Cue and Meekatharra in Western Australia.
Parks Reef PGM Project
Parks Reef consists of a 15km long strike of platinum group metal (PGM), gold and base metal mineralisation. The reef presents near surface with an average true width of approximately 15m and dips steeply such that it lies near vertical. The deepest drilling to date has intersected the reef at approximately 250m vertical depth with the mineralisation remaining open at depth. Podium Minerals Limited (ASX: POD) is focused on the continued growth of its Parks Reef Project with a view to becoming Australia’s first Platinum Group Metal (PGM) producer.
Podium is targeting both high grade and bulk tonnage PGM-Au-base metals suitable to develop a low cost open pit mining operation and future access to high grade zones of PGM mineralisation at deeper levels by development of underground mining operations from the base of the open pit. The near vertical orientation of the reef provides favourable geometry for both open pit and underground mining.
World supply of PGM is dominated by South Africa, Russia and Zimbabwe which contribute over 90% of platinum and 80% of palladium mine production. The Parks Reef PGM Project is strategically located in an established mining precinct between Cue and Meekatharra in the Mid West Region of Western Australia which provides opportunity for the development of an alternative supply of PGMs.
Since listing on the ASX in February 2018 Podium has aggressively pursued a systematic drilling program with an objective of defining near surface mineral resources along the identified extents of Parks Reef. Drilling completed to date has confirmed continuity of thick PGM mineralisation along the drilled strike. The drilling has also shown a horizon of base metal and gold enrichment in the hanging wall above the PGM horizon. The base metal and gold mineralisation overlaps with the upper portion of the PGM horizon which also exhibits elevated PGM grades and provides a high value domain within the reef with coincident enrichment of platinum gold and copper.
The current Mineral Resources are defined over approximately 8.5km of the 15km strike length of Parks Reef and within 100m from surface. The Mineral Resources contains 1,390,000 ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes of copper.
The mineralisation remains open at depth and along strike. Potential also exists for parallel reefs both above and below Parks Reef containing PGM-Au-base metal mineralisation. This potential is supported by magnetic imagery and geochemistry which will be tested by further exploration drilling.
How big are our Mineral Resources?
Podium released a maiden Mineral Resource estimate for Parks Reef in October 2018 with Mineral Resource upgrades released in 2019 and 2020. The current Mineral Resources are defined over approximately 8.5km of the 15km strike length of Parks Reef and within 100m from surface. The Mineral Resources contain 1,390,000 ounces of combined platinum, palladium and gold plus base metal credits with 53,900 tonnes of copper. The mineralisation remains open at depth and along strike. For further details refer the tables below and to Podium’s ASX announcement released 30 November 2020.
The latest resource upgrade incorporates (Nov 2020) results from drilling undertaken during the September quarter, with approximately 1,870m of reverse circulation (RC) resource drilling in 17 holes over 1.6km of strike length between the previously defined western and central blocks.
Inferred Mineral Resources in Parks Reef have increased to 25.0Mt at 1.52g/t 3E PGM1 (22% INCREASE) at a cut-off grade of 1g/t 3E PGM for the platinum group metal (PGM) horizon and an additional 14.9Mt at 0.24% copper and 0.33g/t 3E PGM (44% INCREASE) at a cut-off grade of 0.1% copper for the overlying base metal and gold horizon.
Based on this drilling resources have now been delineated over a total strike length of 8.5km including a continuous 6.1km resource block spanning the western half of Parks Reef.
AND The Mineral Resources are defined to a depth of 100m below surface based on a preliminary assessment of a potential open-pit mining operation.
What's Next?
The mineralisation in Parks Reef has been identified through historic shallow surface drilling to extend over a 15km strike length with drilling to date by Podium delineating Mineral Resources over 8.5km and within 100m of surface and with the mineralisation open along strike and at depth.
With opportunity for the deposit to host a materially significant resource Podium continues to advance its growth strategy for Parks Reef with clear work programmes to define a credible pathway to production, comprising:
1. continued systematic drilling along the full 15km strike length of Parks Reef with the aim of delineating a materially significant resource base; 2. testwork and process design to select a preferred process route; and 3. a scoping study to define a project development plan.
Clear growth strategy with fully funded drilling in progress for:
• 7,000m of drilling to extend resources along the full 15km strike length; • 2,100m drill program to define the continuity of the high-grade mineralization in the middle and eastern sections. • 2,200m drill program to test the western extension below existing drilling to enable resource estimation to 200m below surface. • Two deep 750m diamond drill holes to test continuity of the reef and magmatic stratigraphy at depth. • In-fill drilling and depth extension with introduction of a diamond drill rig to expand the resource base and to increase confidence in high grade and thick mineralised zones. • Commencement of conceptual mine optimisation and economic analysis • Appointment of a leading global independent metallurgical services group for a comprehensive PFS level flowsheet test work programme.
Did someone say Scoping Study?
Identified high value rhodium indicatively adds over 40% to the 3E PGM price!!! (This is something that excites me)...
* Samples from seven drill holes from the western and eastern sectors of Parks Reef have been re-assayed for rhodium * Rhodium concentration observed in the footwall of the main PGM Horizon:
Hmmm, I wonder if this could be a good thing for POD ?
I see this as something to very much look forward to and will add SIGNIFICANT value to POD
AND did someone say Copper? (Cari really loves Copper)
Do you see value at current prices, as did those who got in early under 10 cents? (I will let you decide)...
Somebody I have the highest respect for on HotCopper seems to be of the opinion that:
"POD becoming the next billion dollar market cap explorer seems more likely than not, now." "Hence, why I am invested heavily into Podium Minerals and backing Clayton Dodd all the way to production"
"Furthermore, an impending upgraded 5E-PGM 'Indicated mineral resource estimate' which could see 2moz+ projected to a depth of only 200m is a very bullish signal!"
"Once a marketable, economic deposit is brought to 'market', the share price will reflect the value of that 'asset'".
"I am confident that the market will value POD as a billion dollar company, quite rapidly with a full 5E-PGM suite inferred resource and a clear plan for infill drilling and deeper exploration"
"This is a well managed, systematic explorer, with only one area of focus which is massive in dimension, easily defined and targeted resource (due to reef mineralisation) and extremely economical to pit/UG extract, not to mention reduced AISC for production and processing due to those incredible base metal credits"
(Apologies for quoting you so extensively) But when the "King of Geology" says stuff like this, I get VERY EXCITED (And then proceed to undertake my own DD of course)...
Ok, so I am quite satisfied (actually excited) about POD just in terms of its mineral resource potential, BUT I never invest in a company without looking at the Management Team and their "Skin in the Game"... (Fingers crossed this keeps me excited) - And remember, I do not know anything of the management as I am writing as I undertake my research...
As per Investor presentation: (So this data is as of May, 2021)
Now for anybody who knows me on HC, what do I like to see a company release on a Monthly Basis?
The Answer is an updated TOP 20 list on the company website, as I truly believe that this is an invaluable investor resource and demonstrated a companies willingness and transparancy to provide it shareholders with the investor resources they deserve...
Ok, so lets see if POD provides this.... Looking... Looking... Looking...
Ok, so I am disappointed in this regard And If Management is reading this post, I HIGHLY SUGGEST that you publish this on your website monthly... (Just look at companies such as FFX, CNB, AZY etc....) I personally feel more comfortable investing in companies which display transparancy... And it only takes 5 minutes to produce such a report... Not much effort = increased shareholders loyalty...
Anyways...Mostly ticks so far, but this one is definitely an X
Lets have a look at Management:
I am very interested in this man, as he owns 6.5% of the company, more than any other director... (And based on very minimal research, I can also see that his wife owns just as much of the companies as he does, bringing their combined holdings to possibly more than 13% of the company)... PLEASE UPDATE THE TOP 20 ON YOUR WEBSITE MONTHLY!!
Let's see what I can dig up
Mr Dodd was appointed as a Director of Podium Minerals on 26 October 2009. He served as Non- Executive Chairman from 10 August 2017 and since 1 April 2020 as Executive Chairman. Mr Dodd is a Chartered Accountant with more than 35 years’ experience in finance and resources in Australia, South Africa and South America. He has held directorships with companies listed on the ASX, AIM, TSX and JSE. Mr. Dodd has no other current public company directorships.
As I see it, being such a major shareholder in the company, he has a major vested interest in bringing POD's million Ounce PGM deposit at Parks Reefs into production, which as discussed before, could bring us to in excess of $1 Billion MC (10 x BAGS from current SP)...
I also like to hear Management in interviews, so I watched this one :
And I must say, I am quite impressed
I will be looking into the Management team more over the coming days / weeks, as this is merely a basic summary...
But one more I would like to look into is Rod Baxter, POD's newest addition to the Management Team...
What does my highly respected "King of Geology" have to say about him?
"Very pleased with the new appointment and clearly shows the direction the company is going. This reef is going to be mined!"
Rod is an experienced Board Director of listed and unlisted companies, with an international business career spanning 30 years and extending across Australia, Africa, North America, South America, Singapore and Mongolia. He has held non-executive Chairman and non-executive Director positions since 2005 on a number of Boards across a variety of industry sectors in Australia and internationally, including: Mining and Resources; Engineering and Construction; Health Services; and the Wine industry. His leadership roles include Managing Director as well as Nonexecutive Chairman of listed and unlisted companies, and he has operated across several different industry sectors in Australia and internationally. He is also an experienced chairman and member of Board sub-committees, including: Audit and Risk; Nominations and Remuneration; Governance. He has served on the Boards of JV’s, and a not-for-profit, and has worked with a range of shareholders, including institutional, retail, family offices, and private equity.He currently serves on 3 Boards.
He has successfully transformed several businesses and has established a track record in executing business turnarounds and delivering substantial company growth through organic expansion, M&A, and IPO’s, generating healthy returns for investors. In his Executive career, he has held operational, functional, and Company leadership positions in global organisations operating across a number of continents in 3 different industry sectors: Global diversified Mining Resources, Engineering Construction, and Manufacturing.
His career has seen him hold leadership positions internationally in global diversified Mining and Resources companies, with wide experience encompassing: operational; technology development; project management; commercial and M&A; strategy development; CEO and Managing Director. His experience extends across numerous commodities: steel making (manganese; chromite; iron ore); base metals (copper; nickel; zinc); industrial minerals (tungsten); minerals sands (titanium; zircon); precious metals (PGM's; silver); coal.
Of significant importance to Podium’s PGM operations at Parks Reef, in his early career he was involved in a number of operational and functional roles in the mining sector, including metallurgical, process engineering and project management.
This was followed by senior and general manager roles in commercial, strategy, new business ventures, and strategic corporate projects for Anglo Platinum, resulting in his appointment as a Divisional Director for Anglo Platinum with group-wide responsible for business optimisation, new mining ventures, and strategic corporate projects. He also held a dual role as Project Director for Anglo American plc.
Rod has also led a global diversified Engineering and Construction company which developed and delivered large, international, EPCM and EPC projects for mining resources majors, rail transport, industrial and public infrastructure, as well as asset maintenance services.He was the MD of 2 technology companies, which he led from R&D into commercialisation. One company developed an industrial dewatering technology, while the other commercialised a new technology to manufacture pipelines from advanced composite materials.
What does Mr Dodd have to say about our latest recruit?
Podium’s Executive Chairman Clayton Dodd said “the board was delighted in welcoming Rod to the company. His intricate knowledge to all phases of the mining sector and his past high level experience in the PGM sector will considerably strengthen Podium’s board as it continues to develop its flagship PGM project at Parks Reef.”
Hang on, did I mention "Fantastic pedigree having been senior management of Anglo Platinum Limited (one of the world's largest miners and of platinum) and as GM of Consolidated Minerals got $1.3bn taken over in 2008" ?
In regards to Top 20 Shareholders, I EMBARRASINGLY went to Marketindex for the following (As the company is not transparant in providing this data YET)...
Still quite impressive when a TOP 20 owns MORE THAN HALF of the company
I would like to delve more into the Top 20 as I do on my other FAVE explorer stock (in signature), but this is quite difficult without accurate and up-to-date information by the company
But despite the lack of transparency (sorry for the rant ), this is extraordinarily impressive (as per recent investor presentation):
WOWWWW
But unfortunately, below is the lastest one that they have published (ALMOST A YEAR AGO)!!!
Quite sad, but some companies are simply just not as transperant as my other favorite ASX explorer stocks...
But despite this one "little" X, I see HUGE potential with POD as we continue to DEFINE A CREDIBLE PATHWAY TO PRODUCTION!!!
*Great Project *Experienced Management * Management highly invested in the success of the company
This could possibly become $1 Billion MC as suggested above...
Really wish I got in at 6 cents when I was recommended this stock last year
Please note the above is very basic research and I will be looking more in depth into this company over the coming days and weeks... But I am quite convinced, and plan to buy next week based on the PA... And happy to buy a larger parcel when I see increased "Company Transparency"
Cari
POD Price at posting:
59.5¢ Sentiment: Buy Disclosure: Not Held
(Cari really loves Copper)
But when the "King of Geology" says stuff like this, I get VERY EXCITED
And If Management is reading this post, I HIGHLY SUGGEST that you publish this on your website monthly... (Just look at companies such as FFX, CNB, AZY etc....) I personally feel more comfortable investing in companies which display transparancy... And it only takes 5 minutes to produce such a report... Not much effort = increased shareholders loyalty...
(20min delay)
