Business
Fourth Quarter Report to 30 June 2023
Fourth Quarter Report to 30 June 2023.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n\n \n \n\n \nThe following amendments have been made to the Fourth Quarter Report to 30 June 2023 announcement released by Sylvania Platinum Limited on 27 July 2023 at 07:00 under RNS No 3965H\n \nIn the Table following the Disclaimer in the \"PGM Plant Feed Grade(g/t)\" Row under the ZAR table section (right side of table) figures for Q4 and Q3:\n \nThe figure for Q4 FY2023 was changed from 2.98 to 2.89 and the figure for Q3 FY2023 was changed from 2.89 to 2.98\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \n27 July 2023\n \n \nSylvania Platinum Limited\n (\"Sylvania\", the \"Company\" or the \"Group\")\n \n \n Fourth Quarter Report to 30 June 2023\n \nSylvania (AIM: SLP), the platinum group metals (\"PGM\") producer and developer with assets in South Africa, announces its results for the quarter ended 30 June 2023 (\"Q4\" or the \"quarter\"). Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars (\"USD\" or \"$\").\n \nHighlights\n\nSylvania Dump Operations (\"SDO\") produced 19,072 4E (24,383 6E) PGM ounces in Q4 (Q3: 17,926 4E (22,884 6E) PGM ounces);\nSDO produced 75,469 4E (95,965 6E) PGM ounces for FY2023 (FY2022: 67,053 4E PGM ounces; 85,659 6E PGM ounces)\nExceeded production forecast for the year, which had previously been increased from 72,000 to 74,000 4E PGM ounces;\nPaid first interim dividend of 3 pence per Ordinary Share on 6 April 2023;\nSDO recorded $24.4 million net revenue for the quarter (Q3: $26.5 million);\nGroup EBITDA of $7.8 million (Q3: $9.8 million);\nGroup cash balance of $125.0 million as at 30 June 2023 (Q3: $144.2 million), the reduction primarily due to periodic tax payments of $13.7 million, dividend payments of $9.9 million and share buybacks of $3.6 million during the quarter;\nDoornbosch achieved 11-years Lost-Time Injury (\"LTI\") free during June 2023;\nSuccessful commissioning of Tweefontein MF2 improves metal recoveries;\nOptimisation of blending improved results, especially at the Eastern operations; and\nPilot-scale work on Pelletizer project completed, the Company is currently engaging potential industry partners to assess the commercial viability of the technology.\n\n \nOutlook\n\n...