Sylvania Platinum upbeat after strong fourth quarter
By Josh White
Date: Tuesday 29 Jul 2025
(Sharecast News) - Sylvania Platinum reported strong results for the three months ended 30 June on Tuesday, highlighting continued growth in production and a solid financial performance.
During the fourth quarter of the 2025 financial year, Sylvania's Dump Operations (SDO) produced 21,114 4E (26,954 6E) PGM ounces, marking a 3% increase in 4E PGM ounces compared to the prior quarter.
That increase in production contributed to a new annual production record of 81,002 4E (104,233 6E) PGM ounces, surpassing the company's guidance for the year.
The AIM-traded, South Africa-focussed group also recorded net revenue of $30.3m for the quarter, a 15% increase compared to the prior quarter.
Group EBITDA for the final quarter of the financial year rose significantly by 98%, reaching $12.9m.
The company's cash balance as of 30 June stood at $60.9m, in line with expectations, reflecting a strong liquidity position.
The company also reported progress on several key operational and safety milestones.
Notably, Sylvania achieved its best overall safety performance in the company's history, with the Doornbosch operation marking 13 years lost-time injury (LTI)-free and four years injury-free during the quarter.
The Eastern Operations achieved one full year injury-free.
Looking ahead, Sylvania said it expected a strong performance from SDO in the first quarter of the 2026 financial year.
The firm said it had also seen steady improvement in the current arising stream from the Lesedi operation, with the ramp-up of the crushing plant on track to reach steady state by the second quarter of the year.
Although the Thaba joint venture faced technical delays during the quarter, including weather-related and safety-related interruptions, commissioning had started and was expected to ramp up significantly after the period ended, with steady-state production anticipated by the second quarter.
Construction of the centralised PGM filtration plant was also progressing on budget, and was scheduled for completion by the second quarter as well.
"The company ended 2025 with another strong quarterly production performance, achieving 21,114 4E PGM ounces from the SDO during the period, a 3% increase on the third quarter of 2025, bringing the total annual production to 81,002 4E PGM ounces, which is a new record," said chief executive Jaco Prinsloo.
"Additionally, the average 4E gross basket price increased by 14% in US dollar terms and 12% in South African rand (ZAR) terms, which, alongside the increase in production ounces, saw an improved 4E revenue performance.
"Group EBITDA for the quarter rose to $12.9m, which is a substantial 98% increase quarter-on-quarter - the increase is mainly due to higher production and the increased PGM basket price during the period."
At 1455 BST, shares in Sylvania Platinum were down 2.41% at 73p.
Reporting by Josh White for Sharecast.com.
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