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Southern Palladium Ltd.
(Sydney:SPD)
Southern Palladium Ltd. (SPD) vs. iShares MSCI Australia ETF (EWA)
Southern Palladium Ltd. Business Overview & Revenue Model
Southern Palladium Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -4.05M | -4.05M | 0.00 | -6.45M | 0.00 | -258.34K |
| Net Income | -4.78M | -4.78M | -6.73M | -7.18M | -2.50M | -258.34K |
Balance Sheet | ||||||
| Total Assets | 29.73M | 29.73M | 25.11M | 31.29M | 40.69M | 1.39M |
| Cash, Cash Equivalents and Short-Term Investments | 9.92M | 9.92M | 5.43M | 11.55M | 17.87M | 1.36M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 698.75K | 698.75K | 137.81K | 99.29K | 410.33K | 87.24K |
| Stockholders Equity | 29.04M | 29.04M | 24.97M | 31.19M | 40.28M | 1.30M |
Cash Flow | ||||||
| Free Cash Flow | -1.16M | -1.16M | -894.00 | -1.06K | -1.36K | -343.00 |
| Operating Cash Flow | -1.16M | -1.16M | -894.00 | -1.06K | -1.36K | -343.00 |
| Investing Cash Flow | -2.35M | -2.35M | -5.22M | -5.26M | -889.00 | 0.00 |
| Financing Cash Flow | 8.00M | 8.00M | 0.00 | 0.00 | 17.86M | 1.56M |
Southern Palladium Ltd. Technical Analysis
Southern Palladium Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$241.62M | -40.76 | -17.70% | ― | ― | 29.91% | |
54 Neutral | AU$26.41M | 0.30 | 239.14% | 270.27% | ― | ― | |
50 Neutral | AU$246.91M | -8.50 | -174.83% | ― | -100.00% | 24.82% | |
49 Neutral | AU$42.87M | -6.82 | -29.96% | ― | ― | -214.29% | |
47 Neutral | AU$64.23M | -8.58 | -17.91% | ― | ― | -213.85% | |
46 Neutral | AU$134.34M | -42.20 | -31.71% | ― | ― | ― |
Southern Palladium Ltd. Corporate Events
Southern Palladium reported strong progress in the December 2025 quarter on advancing the Bengwenyama PGM project toward development, with key Definitive Feasibility Study activities moving ahead, including completion of drilling for metallurgical assays, ongoing geotechnical drilling in the South block, and surface geotechnical work across planned decline and plant site areas to refine mine design and de-risk Stage 1 development. The company also advanced permitting by lodging all required documentation under South Africa’s mining legislation and submitting its Environmental Guarantee, while a A$20 million capital raising significantly strengthened its balance sheet, fully funding completion of the DFS and early mine development activities and positioning Southern Palladium for a potential Mining Right approval and Final Investment Decision in 2026, reinforcing its standing as a high-quality PGM development play amid supportive market conditions and rising institutional interest.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium has retracted updated forecast financial information it presented on 15 January 2026 for the Bengwenyama Project, after the ASX advised that the projections were based on materially different commodity price assumptions than those used in the company’s Optimised Prefeasibility Study and were not supported by an updated pre-feasibility study in line with listing rules. The company has removed several comparative resource and valuation graphs and tables from the investor presentation, confirmed that the Optimised Prefeasibility Study released in July 2025 remains current and unchanged, warned investors not to rely on the withdrawn forecasts, and signalled that it is working towards a Definitive Feasibility Study targeted for release in the third quarter of 2026.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium announced that its Executive Chairman, Roger Baxter, is presenting at the “Gateway to Funding” segment of the Future Minerals Forum in Riyadh, a leading global mining investment conference. The appearance provides a platform to highlight progress on the Bengwenyama project to an international investor audience, underscoring the company’s efforts to raise its profile, attract funding, and reinforce its positioning as a significant emerging player in the global PGM sector.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium Limited announced a change in the director’s interest for Roger Baxter, reflecting an acquisition of 275,229 performance rights. This change highlights the company’s ongoing management and operational adjustments, which could influence its strategic direction and stakeholder interests.
Southern Palladium Limited announced a change in the director’s interest for Mr. Johan Odendaal, reflecting updates in his direct and indirect securities holdings. This change is part of the company’s compliance with listing rules, ensuring transparency in its governance practices, which could impact stakeholder perceptions of the company’s management integrity.
Southern Palladium Limited announced a change in the director’s interest notice for Mike Stirzaker, reflecting updates in his indirect interests through entities such as Stith Pty Ltd and Grafton Bond Investments Pty Ltd. This change, effective from December 8, 2025, may impact the company’s governance and stakeholder perceptions, as it highlights the ongoing adjustments in leadership interests within the company.
Southern Palladium Limited has announced a change in the director’s interest for Ms. Lindi Nkosi-Thomas, with the acquisition of 96,330 Zero Exercise Price Options. This change in director’s interest reflects ongoing adjustments in the company’s governance and could influence investor perceptions and stakeholder engagement.
Southern Palladium Limited has announced the issuance of 385,320 unquoted zero exercise price options as part of an employee incentive scheme. This move is aimed at motivating and retaining key personnel, potentially enhancing the company’s operational efficiency and aligning employee interests with shareholder value.
Southern Palladium Ltd. has successfully completed the second tranche of its placement, issuing 11,581,815 fully paid ordinary shares at $1.10 per share, raising A$12.74 million. This move, approved at the company’s Annual General Meeting, strengthens its financial position and aligns with its strategic goals, potentially enhancing its market presence and stakeholder value.
Southern Palladium Limited announced that all resolutions at its 2025 Annual General Meeting were successfully carried. However, a proposed resolution to change the company’s name to Southern Platinum Limited was withdrawn following feedback from major shareholders. This decision reflects the company’s responsiveness to shareholder input, potentially impacting its strategic direction and stakeholder relations.
Southern Palladium Limited announced the release of the Managing Director’s presentation at their Annual General Meeting. This event is significant for stakeholders as it provides insights into the company’s strategic direction and operational updates, potentially impacting its market positioning and investor confidence.
Southern Palladium Limited announced a change in the director’s interest, with Ms. Lindi Nkosi-Thomas acquiring an additional 46,800 ordinary shares. This change reflects a direct interest and suggests confidence in the company’s future prospects, potentially impacting stakeholder perceptions positively.
Southern Palladium Limited has announced significant progress in the Bengwenyama PGM Project, with the commencement of metallurgical and geotechnical drilling as part of the Definitive Feasibility Study. The company is fast-tracking the development of the Southern Decline to intersect the UG2 reef, which is expected to derisk near-term project development and facilitate future financing. The project is on track with optimized designs and operational readiness, and Southern Palladium is evaluating processing options to ensure efficient transition from development to operations.
Southern Palladium Limited has successfully completed a Share Purchase Plan, issuing 59,092 fully paid ordinary shares at $1.10 each, raising A$65,001.20. This issuance aligns with the company’s compliance with relevant provisions of the Corporations Act, maintaining transparency and regulatory adherence, which could impact its operational credibility and stakeholder confidence.
Southern Palladium Limited has announced the quotation of 59,092 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 19, 2025. This move is part of previously announced transactions, potentially enhancing the company’s market presence and providing additional liquidity for stakeholders.
Southern Palladium Limited has successfully completed its Share Purchase Plan (SPP), which was conducted alongside a two-tranche placement that raised A$20 million. The SPP allowed eligible shareholders to purchase new shares at the placement price, raising an additional A$65,000. The funds from these initiatives will be used to complete a Definitive Feasibility Study and advance mine development activities at the Bengwenyama site. The completion of this capital raise strengthens Southern Palladium’s financial position and supports its strategic goals in advancing its mining projects.
Southern Palladium Limited has decided to withdraw a resolution to change its name to Southern Platinum Limited following feedback from major shareholders. The decision to retain the current name preserves the company’s established identity and brand equity as a recognized PGM developer, particularly in relation to its Bengwenyama Project in South Africa.