PALDF management just announced today that exploratory drilling uncovered an ore body with significant amounts of PGMs (both platinum and palladium) not too far from the existing mine facilities (about 60 km).
Drilling Results from Exploration Campaign As the exploration works continues, this should add significantly to PALDF proven resource and life of mine. Basically, the underlying long-term value of the company and its assets just increased.
The drop today is just short-term volatility in the price of palladium and is overdone. With wage talks and power grid issues in South Africa looming, the price will be back up in May.