Australia's Southern Palladium hits near 6-mth high on fundraising plan for key project

Southern Palladium

12/06/2025 03:33

** Shares of Southern Palladium SPD.AX zoom 21% to A$0.605, their highest since December 20

** Miner to raise A$8 million ($5.19 million) at A$0.50 per share

** Issue price is the same as stock's last close

** Co to use proceeds for near-term mine development at its Bengwenyama platinum group metals (PGM) project in South Africa

** Stock on track for best day since June 2 if gains hold

** About 210,309 shares change hands, 2.8x the 30-day average of 76,315

** Stock up 0.8% YTD, including moves in current session

($1 = 1.5404 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))