Edison Investment Research - Sylvania Platinum (SLP) Sylvania Platinum - Q124 production up, costs down

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Edison Investment Research

Alison Turner

Sylvania Platinum - Q124 production up, costs down

Sylvania Platinum is a low-risk, high-yielding South African platinum group metals (PGM) dump retreatment operation. Despite a 15% fall in the PGM basket in Q124 versus Q423, the company maintained a healthy cash position of US$126.9m at end September 2023. Production in Q124 was better than we estimated. Unit costs were down in every cost category in response to higher ounces produced, but despite this, EBITDA and net profit were sharply lower. The company is controlling capex as capital allocation comes under the spotlight against the backdrop of weak PGM prices.

02/11/2023 1 EN

Underlying

Sylvania Platinum

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BMG864081044 London Stock Exchange Bermuda

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alison Turner

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Sylvania Platinum - Q124 production up, costs down

Sylvania Platinum - Healthy production recovery

Hybridan Small Cap Feast - 29 October 2024

Sylvania Platinum - Earnings upside with chrome JV kicker in Q425

Focusrite - Cautious optimism after significant challenges

Accsys Technologies - Upgrading guidance for the full year

Topps Tiles - Market outperformance again in FY24

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