29th Jul 2015 10:54
LONDON (Alliance News) - Sylvania Platinum Ltd on Wednesday said its platinum production in South Africa increased in the fourth quarter and said full-year production outpaced its guidance.
Sylvania Platinum said production from its dump operations at the Bushveld project in South Africa was 13,468 ounces, up 5% from the 12,778 ounces produced in the third quarter.
In addition, the company said its full-year production from the site, to the end of June, was 57,587 ounces, up 7% year-on-year and ahead of its guidance of 55,000 to 57,000 ounces.
The gross basket price for the production in the fourth quarter was USD1,032 per ounce, down 2% on the third quarter.
Sylvania Platinum shares were down 8.1% to 10.80 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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