Podium Minerals announced a 27% increase in its inferred mineral resource estimate at the Parks Reef Platinum Group Metal Project in Western Australia.

The upgraded MRE now stands at 7.6 million ounces of 5E PGM, up from 6 million ounces, alongside 103kt copper, 143kt nickel, and 27kt cobalt.

The growth is credited to enhanced geological understanding and an improved mineral resource model.

The Parks Reef Project shows promise for further development, given its platinum group metal demand for automotive and industrial purposes.