Business
Half Yearly Report
Half Yearly Report.
About this update from Sylvania Platinum Ltd.
[{"type":"text","content":"\n \nRNS Number : 2920O Sylvania Platinum Limited 08 February 2016 \n \n\n \n \n \n \n \n \n _____________________________________________________________________________________________________________________________\n \n08 February 2016\n \nSylvania Platinum Limited \n (\"Sylvania\", \"the Company\" or \"the Group\")\n AIM (SLP)\n \nInterim financial results for the period ended 31 December 2015 \n \nThe Directors are pleased to present the interim financial results for the period ended 31 December 2015. Unless otherwise stated, the consolidated financial information contained in this report is presented in US Dollars.\n \nFinancial snapshot\n· Group Adjusted EBITDA up 59% from $2.28 million (H2 FY2015) to $3.61 million (H1 FY2015: $8.11 million)\n· SDO capital expenditure down 60% to $0.72 million (HY1 FY2015: $1.8 million) \n· General and Administration charges down 25% to $1.19 million from $1.59 million H1 FY2015 \n \nOperations snapshot\n· SDO production for the period a total of 29,519 ounces (HY1 FY2015: 31,341oz; HY2 FY2015: 26,246oz)\n· Group cash costs down 17% to $508/oz (HY1 FY2015: $611/oz)\n· No lost time injuries (\"LTI\") with Steelpoort operation achieving the significant milestone of eight years LTI Free during the period.\n \nCorporate snapshot\n· Intention to sell the chrome resource at Grasvally with an international agent appointed to handle the marketing of the deposit.\n· 6,183,974 shares repurchased and held in treasury to be awarded to senior management based on the attainment of performance criteria.\n \nSYLVANIA REVIEW\nIn the light of declining commodity prices and challenging industry conditions during the six months to 31 December 2015 the main operational focus of the Company has been on maintaining and improving production stability and ounce production, combined with disciplined operational cost control.&nbs...