The Sylvania Platinum Limited Board has declared a final dividend of one pence per Ordinary $0.01 Share (Ordinary Share), to be paid on 6 December 2024. This follows the interim dividend of one pence per Ordinary Share paid in April 2024 and a special dividend of one pence per Ordinary Share paid in June 2024, bringing the total annual dividend to three pence per Ordinary Share. Total dividends of $23.3 million were paid during FY2024.
Other financial highlights include:
- Cold commissioning and first PGM and chrome production from the Thaba JV are on schedule and expected during Q3 and Q4 FY2025 respectively;
- Performance enhancement initiative commenced at Lesedi in August 2024 and will continue into Q2 FY2025;
- Annual production target of 73,000 to 76,000 4E PGM ounces for FY2025 remains unchanged;
- A geophysical survey proposed to cover the entire strike length of the Aurora project to assess both the continuity of the mineralisation as well as to gain a greater understanding of the structural setting of the area will commence in Q2 FY2025 with results expected in Q3 FY2025;
- The Group maintains strong cash reserves enabling it to balance the requirement of sustaining capital (new tailings storage facilities ("TSFs") and strategic and improvement projects), expansion and process optimisation capital (new Thaba JV project and studies aimed at optimising value of the Group's exploration assets), as well as potential shareholder returns.
- The Annual General Meeting (AGM) is to be held on 29 November 2024.
