Business
Fourth Quarter Report to 30 June 2022
Fourth Quarter Report to 30 June 2022.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n _________________________________________________________________________________________________________________________\n \n \n \n \n \n \n \n \n \n 28 July 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Sylvania Platinum Limited\n \n \n \n \n (\"Sylvania\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Fourth Quarter Report to 30 June 2022\n \n \n \n \n \n \n \n \n \n Sylvania (AIM: SLP) announces its results for the quarter ended 30 June 2022 (\"Q4\" or the \"quarter\"). Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars (\"USD\" or \"$\").\n \n \n \n \n \n \n \n \n Achievements\n \n \n \n Sylvania Dump Operations (\"SDO\") achieved 18,837 4E PGM ounces in Q4 (Q3:\n 15,840\n ounces), making a strong contribution towards a total 67,053 4E PGM ounces achieved for FY2022;\n \n \n SDO recorded $34.9 million net revenue for the quarter (Q3:\n $47.9 million), reflecting a 22% lower PGM basket price received during the quarter;\n \n \n Group EBITDA of $16.8 million (Q3: $\n 30.0\n million); \n \n \n Group cash balance of $121.3 million, after payment of the windfall dividend, share buyback and year-end taxes (Q3: $138.0 million);\n \n \n Doornbosch achieved 10-years Lost-Time Injury (\"LTI\") Free during June 2022 and received the 'Best-in-class Safety Performance' award by the Mine Metallurgical Managers Association of SA;\n \n \n Tweefontein operation achieved record monthly, quarterly and annual PGM production performance; and\n \n \n Sale of Grasvally Chrome Mine (Pty) Ltd became unconditional 8 July 2022\n \n \n \n .\n \n \n \n \n \n Challenges\n \n \n \n PGM feed grade of ROM ore from the host mine at Mooinooi has improved during the past quarter, but remains a focus area to ensure output ounce targets are achieved in the future\n ; and\n \n \n The effect of high global inflation and uncertainty continues to impact the cost of reagents, fuel and transport.\n \n \n \n \n \n \n Opportunities\n \n \n \n Tweefontein MF2 project is currently in execution and expected to contribute to production ounces from early in ...