Sylvania Platinum Limited (LON:SLP), the platinum group metals, chrome producer and developer, with assets in South Africa, has announced its production results for the three months ended 30 September 2025. Unless otherwise stated, the consolidated financial information contained in this report is presented in United States Dollars.
Highlights
· Sylvania Dump Operations (“SDO”) declared 24,522 4E (31,234 6E) PGM ounces in Q1 FY2026, a 16% increase in 4E and 6E PGM ounces for the Quarter (Q4 FY2025: 21,114 4E (26,954 6E) PGM ounces). This marks the highest quarterly PGM production for the Group since inception;
· Construction of the centralised PGM filtration Plant is on budget and on schedule for completion during Q2 FY2026;
· Thaba Joint Venture (“Thaba JV”) commissioning completed during the Period;
· First chrome and PGM concentrate products from Thaba JV have been dispatched post Period-end;
· The SDO and Thaba JV were Lost-Time Injury (“LTI”)-free during the Quarter;
· SDO recorded $45.1 million net revenue for the Quarter, a 49% increase quarter-on-quarter (Q4 FY2025: $30.3 million);
· Group EBITDA of $22.0 million, a 71% increase for the Quarter (Q4 FY2025: $12.9 million); and
· Following an impressive quarter, guidance for FY2026 remains unchanged at 83,000 to 86,000 4E PGM ounces with chromite concentrate target of 100,000 to 130,000 tons.
Commenting on the results, Sylvania’s CEO, Jaco Prinsloo, said:
“The Company had an impressive start to FY2026 with quarterly production recording 24,522 4E PGM ounces from the SDO during the Period, a 16% increase on Q4 FY2025. The average 4E gross basket price increased by 20% in USD terms and 16% in South African Rand (“ZAR”) terms, which, alongside the increase in production ounces, saw an improved 4E revenue performance (up 46% in USD terms and 41% in ZAR terms) compared to Q4 FY2025.
“Group EBITDA for the Quarter from SDO rose to $22.0 million (Q4 FY2025 $12.9 million), which is a significant 71% increase quarter-on-quarter. The increase is mainly due to higher production and the increased PGM basket price during the Period.
“The commissioning of the Thaba JV project was completed during Q1 FY2026 and is continuing to ramp-up, with steady-state production expected in Q3 FY2026 as announced previously. First chrome and PGM production were achieved during the Period, and products were dispatched, post Period-end.
“In the interests of improving reporting efficiencies, we have streamlined the Quarterly reporting format to focus primarily on key operational and financial highlights. This will be supplemented by the Company’s regular interim and full year reports that will provide in-depth details on all Company developments and corporate information.”
