Southern Palladium IPO

Anyone here taking the Southern Palladium IPO?


AFR(dot) com link: https://www.copyright link/street-t...alladium-maps-out-45m-listing-20220427-p5agg9

"Southern Palladium said it would seek to raise $17 million to $19 million at 50¢ a share, in a deal valuing it at as much as $45 million on a market capitalisation basis.

The company, backed by institutions Regal Funds, Sprott and Lowell Resources Fund, owns 70 per cent of the Bengwenyama Palladium-Rhodium (PGM) project in South Africa’s Bushveld Complex which contains about three-quarters of the world’s PGM resources.

The project was described to potential investors as one of the last tier one PGM deposits globally, and book ended by other PGM sites owned by heavyweights Anglo and Impala.

The project has a JORC 2012 complaint inferred resources of 18.8 million ounces, according to the prospectus, on a 3PGE+gold which refers to platinum + palladium + gold. At current prices, it would translate to a basket price of about US$3,331/oz, according to terms sent to potential investors."