Business
Final Results to 30 June 2024
Final Results to 30 June 2024.
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 \n10 September 2024\n \nSylvania Platinum Limited\n (\"Sylvania\", the \"Company\" or the \"Group\")\n \nFinal Results to 30 June 2024\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 2024 (the \"Period\" or \"FY2024\"). Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars (\"USD\").\n \nOperational\n· Sylvania Dump Operations (\"SDO\") produced 72,704 4E PGM ounces for the year (FY2023: 75,469 4E PGM ounces);\n· The Thaba Joint Venture (\"Thaba JV\") project is on schedule with all phases of construction of the chrome and PGM beneficiation plants progressing well;\n· The Lannex MF2 project and the flotation circuit with the fine grinding circuit were commissioned during the year; and\n· The updated Volspruit Project (\"Volspruit\") Scoping Study reported a significant increase in project pre-tax net present value (\"NPV\") to $69.0 million for a 14-year life of mine (\"LOM\"), a significant increase compared to $27.3 million NPV (2022 Scoping Study).\n \nFinancial\n· Net revenue generated for the Period totalled $81.7 million (FY2023: $130.2 million);\n· Group EBITDA of $13.5 million (FY2023: $66.0 million);\n· Net profit of $7.0 million (FY2023: $45.4 million);\n· Average 4E Gross Basket Price for FY2024 was $1,339/ounce (FY2023: $2,086/ounce);\n· An interim cash dividend for HY1 F...