Lesego Platinum: advancing a world-class PGE project with an upgraded feasibility study
Lesego Platinum is advancing its Phosiri Dome platinum group metals (PGM) project in Limpopo, about 300 km north-east of Johannesburg, with a clear mission: to build a safe, sustainable, modern, cost-competitive operation that creates long-term value for all stakeholders. The project benefits from established regional roads, power and water access, and is backed by the Heaven-Sent Industrial Group, aligning international capital with South African execution capability.
Situated on the Eastern Limb of the Bushveld Complex, Lesego targets the Merensky and UG2 reefs where the Phosiri Dome uplifts mineralisation to mineable depths, with strong grades, mineable widths and continuity across the orebody. Lesego has a resource endowment of around 50 Moz at an average grade above 5.5 g/t, underscoring the scale of the opportunity.
To unlock this value, Lesego has appointed SRK to lead a comprehensive feasibility study upgrade, following the 21 November 2025 feasibility study kick-off meeting. The work converts earlier studies into an AACE (formerly the Association for the Advancement of Cost Engineering) decision-ready feasibility package, addressing items required for capital raising and updated licensing requirements, such as a compliant Reserve Statement and the level of detail needed for environmental, waste and additional water authorisations.
SRK brings half a century of Johannesburg-rooted mining expertise to the task. Founded in 1974 by Oskar Steffen, Andy Robertson and Hendrik Kirsten, the firm has grown into a 1 700-plus-strong network with offices worldwide, advising across the full mine life cycle from exploration through feasibility and into closure. Its study and project evaluation teams are steeped in international reporting codes (NI 43-101, JORC, SAMREC) and have delivered bankable work on tier-one assets, including recent feasibility mandates such as Red 5’s King of the Hills in Australia. SRK is also a recognised leader in tailings and water stewardship, helping clients implement the Global Industry Standard on Tailings Management (GISTM) with integrated geotechnical, environmental and risk disciplines.
Previous engineering defines a technically robust development pathway: twin-shaft access, matched to orebody geometry (mechanised long-hole stoping in steeper zones, conventional methods in shallower dips), and a phased 250 kt/month MF2 concentrator flowsheet. Toll-concentrating options on the Eastern Limb are also being examined to lower peak funding requirements and improve project economics.
Project-enabling workstreams are progressing in parallel. Environmental baseline work is in hand with clearly defined outstanding items; multiple bulk-water supply options are under evaluation; and surface-lease processes with the South African Department of Agriculture, Land Reform and Rural Development have been scoped. These activities help compress the critical-path to construction once the feasibility study is complete and financing is in place.
Lesego’s development philosophy places equal weight on technical excellence and community partnership. The company’s vision emphasises responsible development, local beneficiation and enduring social value which are principles that will guide the delivery of the Company’s Social and Labour Plan commitments as the project advances.
Backed by the strategic support of Heaven-Sent, Lesego is positioning itself to deliver a modern, cost-competitive PGM operation on the Eastern Limb, ultimately delivering value for shareholders, stakeholders and communities alike