James Whelan of SmallCaps.com sits down with Roger Baxter of Southern Palladium (SPD.ASX) to unpack a tier-one PGM project in South Africa and what it could mean for investors. Southern Palladium is an ASX-listed company with a market capitalisation of around AUD$140 million, pursuing a near-surface, high-grade PGM asset in prime mining country. The discussion covers the asset location, the Benguenyama community equity structure (the community holds about 30% of the underlying asset), the DFS status, and the path to FID later this year. We also touch on the AUD$20 million fundraise, the use of proceeds to advance DFS and early development, the mining approach (hybrid mechanised development with conventional stoping), reef intercepts around 50 metres, and the near-term catalysts. With a low-cost, high-grade, shallow reef and a defined timeline into DFS and FID, SPD could offer meaningful optionality in the ASX small-cap space. The video provides a concise update on the company's value drivers, milestones, and risks, plus what to watch next as news flow continues. Timestamps: 0:00 Intro and overview 0:35 SPD overview — asset, location and why it matters 1:15 Community equity and Benguenyama involvement 2:10 DFS progress and milestones 3:00 Funding and use of proceeds 3:50 Mining approach and reef geometry 4:40 Near-term catalysts and FID timing 5:25 Market context for SPD.ASX and risks 6:10 Wrap-up and final takeaways For more ASX small-cap insights and updates on SPD.ASX, subscribe and turn on notifications so you don’t miss future videos. Stay tuned for more timely analysis on Southern Palladium and other ASX-listed explorers and developers. To stay in the loop on SPD.ASX and other ASX small-caps, subscribe for timely updates and check out our other analyses for more in-depth company insights. ⚠️ IMPORTANT DISCLAIMER: This content is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research and consider seeking advice from a qualified financial advisor before making investment decisions. The creator may hold positions in securities discussed. 🔎 More on this company: https://smallcaps.com.au/stocks/asx-spd/ ⸻ Small Caps is Australia’s #1 site for market news & information on ASX-listed small cap companies. 🌐 WEBSITE https://smallcaps.com.au/ 🎧 PODCAST https://smallcaps.com.au/podcast/ 📱 SOCIAL MEDIA Facebook: https://www.facebook.com/SmallCapsASX Twitter: https://twitter.com/SmallCapsASX LinkedIn: https://www.linkedin.com/company/small-caps/ 📬 NEWSLETTER https://smallcaps.com.au/subscribe/