Business
Fourth Quarter Report to 30 June 2024
Fourth Quarter Report to 30 June 2024.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n\n\n \n\n \n \n31 July 2024\n \nSylvania Platinum Limited\n (\"Sylvania\", the \"Company\" or the \"Group\")\n \nFourth Quarter Report to 30 June 2024\n \nSylvania (AIM: SLP), the platinum group metals (\"PGM\") producer and developer with assets in South Africa, announces its results for the three months ended 30 June 2024 (the \"Quarter\" or the \"Period\"). Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars (\"USD\" or \"$\").\n \nHighlights\n· Sylvania Dump Operations (\"SDO\") produced 17,067 4E (21,896 6E) PGM ounces in Q4 FY2024 (Q3 FY2024: 17,232 4E (21,857 6E) PGM ounces);\n· SDO produced 72,704 4E (92,4276E) PGM ounces for FY2024 (FY2023 75,469 4E PGM ounces; 95,965 6E PGM ounces);\n· SDO recorded $20.6 million net revenue for the Quarter (Q3 FY2024: $20.3 million);\n· Group EBITDA of $2.8 million (Q3 FY2024: $3.2 million);\n· Cash balance as at 30 June 2024 of $97.8 million (31 March 2024: $101.3 million);\n· Doornbosch operation achieved 12 years Lost-Time Injury (\"LTI\")-free days as well as achieving three years total injury free days during the Quarter;\n· Thaba Joint Venture (\"Thaba JV\") project is on schedule with all phases of construction of the chrome and PGM beneficiation plants progressing well;\n· An interim cash dividend for HY1 FY2024 of 1 pence per Ordinary Share, amounting to $3.3 million, was paid in April 2024;\n· The Company received early settlement of the loan and proceeds for the sale of Grasvally Chrome Mine (Pty) Ltd (\"Grasvally\") amounting to an equivalent of $6.2 million; and\n· A special dividend of 1 pence per Ordinary Share, amounting to $3.3 million, was paid on 7 June 2024 from the Grasvally settlement proceeds. \n \nOutlook\n· The Mooinooi and Millsell operations on ...