Stratex Resources Acquires Interests in South Africa's Kalplats PGM Project

[SMM Flash] Stratex Resources has acquired African Thunder Platinum from a consortium led by Pala Investments, bringing interests associated with South Africa's Kalplats PGM project under new ownership. African Thunder Platinum holds a 70% interest in Greenstone Platinum and owns Stella Platinum, which holds the land associated with Kalplats. The project is located in South Africa's North West Province and represents an undeveloped PGM asset outside the country's principal Bushveld production centres.

Stratex said it intends to pursue development of Kalplats in partnership with an established South African PGM developer or producer. The transaction could provide a new development pathway for an asset that has passed through several ownership structures and remains relevant to potential future South African PGM supply. However, the acquisition does not constitute a construction or production decision, and financing arrangements, development timelines and future production parameters have not yet been established.