Sylvania Platinum gains on robust qtrly results

Sylvania Platinum

31/10/2022 10:13

** Shares of platinum metals producer Sylvania Platinum 
 SLPL.L  rise 5% to 92p 
    ** Says its Sylvania Dump Operations produced 19,194 4E PGM
ounces (Platinum Group metals) in Q1, up by 1.8% from Q4 FY22 
    ** Q1 net revenue jumps about 23% to $42.9 mln
    ** Posts group core profit of $26.4 mln vs $16.8 mln
reported in Q4 FY22, benefiting from increased production and
higher basket price in the quarter 
    ** Sees Tweefontein MF2 in South Africa to start
commissioning in Q2 FY23 and expects it to contribute to
production, additional ounces from Q3 FY23
    ** "Best quarter since early 2020"- Liberum
    ** Co reported first quarter of 19.1koz PGM, annualising
well above guidance of 68-70koz - Liberum
    ** Shares up 4.1% so far this year, as of last close  
 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com;))