Last checked at 30 Oct 2014 07:00
30 October 2014
Sylvania Platinum Limited
("Sylvania" or "the Company")
AIM (SLP)
Issued shares: 297,981,896
RELEASE OF ANNUAL REPORT 2014
The Company announces today the release of its audited annual report for the financial year ended 30 June 2014.
Results snapshot:
· Revenue up 18% to $47.2 million (FY2013: $40.0 million)
· EBITDA increased 29% to $11.2 million for the Sylvania Dump Operations ("SDO") (FY2013: $8.7 million)
· Group adjusted EBITDA increased by 121% to $7.5 million (FY2013 $3.4 million excluding the Iron Ore transaction)
· SDO Capital expenditure down 83% to $1.3 million (FY2013: $7.6 million);
· Cash generated from operations up 24% to $5.1 million (FY2013: $4.1 million)
· Total production for the year up 22% to a record 53,808 ounces (FY2013: 44,095 ounces), modestly exceeding the 51,000 ounce production guidance given by the Company in the FY2013 annual report
· Consolidation of mining and surface rights over Zoetveld and Grasvally farms completed after Section 11 Consent registered with Mining Titles Office
The complete annual report is available for download on the Company's website. http://www.sylvaniaplatinum.com.
Registered office: Sylvania Platinum Limited
Clarendon House
2 Church Street
Hamilton HM 11
Bermuda
Postal address: PO Box 976
Florida Hills, 1716
South Africa
Sylvania Website: www.sylvaniaplatinum.com
CONTACT DETAILS
For further information, please contact:
Terence McConnachie (Chief Executive Officer)
+44 777 533 7175
Nominated Advisor and Broker:
Liberum Capital Limited
Richard Crawley/Tom Fyson
+44 (0) 20 3100 2000
Communications :
Newgate Threadneedle
Adam Lloyd
+44 (0) 20 7653 9850