Sylvania Platinum Limited

Management Reports • Oct 30, 2014

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RNS Number : 6261V

Sylvania Platinum Limited

30 October 2014

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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