Southern Palladium (ASX:SPD) said it was advancing a definitive feasibility study works program at its Bengwenyama platinum group metals project in South Africa, with metallurgical sample collection, surface geotechnical drilling, and test pitting work, as well as around half of the phase two drilling program completed, according to a Thursday Australian bourse filing.

Six diamond rigs are operating on site, with 52 drill holes and 37 deflections for 6,651 meters have been completed to date.

An independent mining peer review is scheduled for late March to validate the mine design, decline strategy, and execution assumptions ahead of the finalization of the definitive feasibility study, which remains on track for completion by the end of August.

Its shares fell 3% in recent trading on Thursday.