Business
Annual Financial Report
Annual Financial Report.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n\n\n \n \n \n \n _____________________________________________________________________________________________________________________________\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse regulation (EU) no.596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.\n \n7 September 2023\n \nSylvania Platinum Limited\n (\"Sylvania\", the \"Company\" or the \"Group\")\n \nFinal Results to 30 June 2023\n \nSylvania (AIM: SLP) the platinum group metals (\"PGM\") producer and developer, with assets in South Africa, is pleased to announce its final results for the year ended 30 June 2023. Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars (\"USD\").\n \nOperational Highlights\n· Sylvania Dump Operations (\"SDO\") exceeded target production by delivering 75,469 4E PGM ounces for the year (FY2022: 67,053 4E PGM ounces);\n· Run of Mine (\"ROM\") grades received from the host mine at Mooinooi increased significantly over the year contributing to additional ounce production;\n· Successful commissioning of Tweefontein MF2 improved metal recoveries;\n· Optimisation of blending improved grade, recovery and ounce production, especially at the Eastern operations; and\n· Pilot-scale work on pelletizer project completed; the Company is currently engaging with potential industry partners to assess the commercial viability of the technology.\n \nFinancial Highlights\n· Net revenue generated for the period totalled $130.2 million (FY2022: $152.0 million);\n· Group EBITDA of $66.0 million (FY2022: $82.8 million);\n· Net profit of $45.4 million (FY2022: $56.2 million);\n· New Dividend Policy approved by the Board and effective from 1 July 2022;\n· &...