Last checked at 19 Apr 2011 07:00
Sylvania Platinum Limited
("Sylvania Platinum", "Sylvania" or the "Company"
(ASX: SLP, AIM: SLP)
Sylvania Platinum Achieves All-Time High Quarterly Platinum Ounce Production
The Sylvania Platinum Board is pleased to announce that it continues to deliver on its internal production guidance at the Company's five PGM production operations and has seen another all-time record high production volume of 10,768 oz achieved in the quarter to 31 March 2011. This exceeds Management's targeted production expectations of 10,500 oz and supports the annual outlook of 40,000 oz for the financial year to June 2011.
Sylvania expects to announce its full quarterly results for the period ended 31March 2011 on or before 30th April 2011.
Sylvania has also progressed well with its near surface exploration programme at its new Volspruit Mine, with bulk sampling, Mintec float test results and DC smelting trial pre-feasibility results all underway. In addition, exploration work at the Northern Limb assets is advancing well.
Commenting today, Nigel Trevarthen, Deputy CEO, said: "We are pleased that all of Sylvania's five operating plants have shown improvements and continue to outperform targeted production rates. We look forward to reporting further progress with production data as well as a full overview of exploration developments at our upcoming quarterly results to 31 March 2011, due at the end of April."
For further information please visit www.sylvaniaplatinum.com or contact:
In South AfricaTerence McConnachie (CEO Sylvania Platinum Limited)(+27 11) 673 1171
Louis Carroll (FD/Joint Company Secretary)Sylvania Platinum Limited+44 (0) 7969 170 622
In Australia
Richard Rossiter (Chairman)Sylvania Platinum Limited
(+614) 1868 8338
Grant Button (Director/Joint Company Secretary)Sylvania Platinum Limited(+618) 9226 4777
In United KingdomAnthony Rowland/ Ben WrightAmbrian Partners Limited+44 (0) 20 7634 4700
Laurence Read/Beth Harris
Threadneedle Communications
+44 (0) 20 7653 9855