Business
Third Quarter Operations Report to 31 March 2026
Sylvania Platinum Limited reported a strong third quarter ending March 31, 2026, with net revenue increasing 44% to $78.7 million and adjusted Group EBITDA rising 61% to $47.8 million, driven by a 28% increase in the average 4E gross basket price. While PGM ounces produced were 22,853, a slight decrease from the previous quarter, both Eastern and Western Operations exceeded business plan targets. The Thaba Joint Venture saw an 80% increase in chrome production to 19,030 tons, though full-year chrome guidance has been revised to 50,000-55,000 tons due to post-period challenges. The Group's cash balance grew 17% to $63.3 million, and they launched a $2.0 million share buyback program. Disclaimer*
About this update from Sylvania Platinum Ltd.
29 April 2026 Sylvania Platinum Limited ("Sylvania", the "Company" or the "Group") Third Quarter Operations Report to 31 March 2026 Positive Momentum Maintained Sylvania (AIM: SLP), the platinum group metals ("PGM") and emerging chrome producer and developer, with assets in South Africa, announces its production results for the three months ended 31 March 2026 (the "Quarter", the "Period" or "Q3 FY2026"). Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars ("USD" or "$"). Highlights Sylvania Dump Operations ("SDO") declared 22,853 4E (29,372 6E) PGM ounces in Q3 FY2026 (Q2 FY2026: 24,642 4E (31,380 6E) PGM ounces), with both the Eastern and Western Operations exceeding their respective business plan targets for the Quarter; Thaba Joint Venture ("Thaba JV") continued its ramp-up during the Quarter, with an 80% increase in chrome production, delivering 19,030 tons (Q2 FY2026: 10,531 tons). While Q3 FY2026 performance was in line with the anticipated production profile as previously communicated, challenges post Period-end have negatively impacted the full year outlook; Group's Operations were Lost-Time Injury ("LTI")-free during the Quarter, with several key safety milestones achieved, including Doornbosch reaching five years Total Injury free, and Lannex, Lesedi and Millsell reaching five, six and four years LTI-free, respectively; SDO recorded $78.7 million net revenue for the Quarter, a 44% increase quarter-on-quarter (Q2 FY2026: $54.8 million); Adjusted Group EBITDA of $47.8 million, a 61% increase quarter-on-quarter (Q2 FY2026: $29.8 million); Share Buyback Programme on market of $2.0 million was launched during the Period; Group cash balance increased quarter-on-quarter by 17% to $63.3 million (Q2 FY2026: $54.0 million); and Interim dividend for FY2026 of 2.00 pence per Ordinary Share was declared in February 2026 and paid in April 2026 post-Period end. Outlook The Company is likely to achieve or exceed the upper end of the previously increased PGM production guidance of 90,000 to 93,000 4E PGM ounces, announced in Q2 FY2026. While various optimisation initiatives are underway to improve ROM feed quality and stability as plant ramp-up continues, the Chrome concentrate production guidance for the year has been revised to...
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