Business
Fourth Quarter Report to 30 June 2019
Fourth Quarter Report to 30 June 2019.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n \nRNS Number : 3279H Sylvania Platinum Limited 31 July 2019 \n\n \n \n \n \n \n \n _____________________________________________________________________________________________________________________________\n \n31 July 2019\n \n \nSylvania Platinum Limited \n (\"Sylvania\", \"the Company\" or \"the Group\")\n AIM (SLP)\n \nFourth Quarter Report to 30 June 2019 \n \n \nThe Directors are pleased to present the results for the quarter ended 30 June 2019 (\"Q4\" or the \"quarter\"). Unless otherwise stated, the consolidated financial information contained in this report is presented in USD.\n \n \nAchievements \n· Record ounce production of 21,789 4E PGM ounces in Q4, to achieve a record of 72,090 ounces for FY2019; \n· SDO PGM plant recoveries improved 12% to 54%, boosting ounce production;\n· Net revenue increased 10% to $20.2 million; \n· Group EBITDA improved 14% to $9.3 million in Q4; \n· Group cash costs decreased 21% to $496/ounce; \n· Third MF2 module of Project Echo commissioned at Mooinooi in Q4;\n· Commissioning of Lesedi chrome section commenced in Q4; and\n· Significant safety milestones achieved at Lesedi, reaching eight years Lost Time Injury (LTI) free, and Tweefontein and Doornbosch operations both reaching seven years LTI-free during the quarter. \n \n \nChallenges\n· Although minimal disruptions were experienced during Q4, power supply infrastructure constraints and water availability at certain operations remain focus areas and management continue to explore alternatives to minimise disruptions and mitigate impact on operations; and \n· Fluctuations in the average gross basket price and exchange rates impact the earnings and profitability of the Group and are continually monitored even though they remain outside of the Company's control. \n \n&...