**Summary of Sylvania Platinum Limiteds Annual Results Announcement for FY2025**
**Operational Highlights**
**Record Production** Sylvania Platinum achieved a record annual production of 81,002 4E PGM ounces from its Sylvania Dump Operations (SDO), exceeding original guidance and marking an 11% increase from FY2024.
**Thaba Joint Venture (JV)** Commissioning of the Thaba JV commenced during the period, with steady-state production expected in Q3 FY2026. The JV is expected to add approximately 6,800 4E PGM ounces annually and 210,000 tons of chromite concentrate.
**Operational Improvements** Enhanced PGM flotation feed grades, improved current arising streams, and stable performance led to the withdrawal of the Section 189A consultation process.
**Wage Agreement** A two-year wage agreement was successfully reached with trade unions at Eastern and Western Operations.
**Volspruit Scoping Study** The Competent Person Report (CPR) for the Volspruit Scoping Study indicated an increased pre-tax net present value (NPV) of $69.0 million for a 14-year life of mine (LOM).
**Financial Performance**
**Revenue Growth** Net revenue increased by 28% to $104.2 million, driven by higher PGM prices and increased production.
**Profitability** Group EBITDA rose 118% to $29.3 million, and net profit surged 146% to $20.2 million.
**Dividends** A final cash dividend of 2 pence per share was declared, bringing the total dividend for FY2025 to 2.75 pence per share.
**Share Buybacks** The company bought back 1.95 million shares at an average price of 42.45 pence per share, totaling $1.0 million.
**Cash Position** Group cash balance stood at $60.9 million as of 30 June 2025, with no debt and no pipeline financing.
**ESG Initiatives**
**Safety Performance** Achieved the best overall safety performance in the companys history, with one full year injury-free for combined Eastern Operations and Doornbosch reaching 13 years LTI-free.
**Community Engagement** Paid over ZAR156.6 million to community-based suppliers and enhanced water utilisation measurement.
**Environmental Efforts** Made significant progress in sustainable tailings storage facility (TSF) rehabilitation and recorded no occupational illnesses.
**Corporate Developments**
**Leadership Changes** CFO Lewanne Carminati will step down in November 2025, with Ronel Bosman promoted to CFO effective December 2025.
**Outlook** Steady-state production at Thaba JV is expected in Q3 FY2026, with consistent improvements in current arisings and ongoing capital projects.
**Production Targets for FY2026**
**PGM Ounces:** 83000 to 86000 4E PGM ounces.
**Chromite Concentrate:** 100000 to 130000 tons.
**CEO Comment**
CEO Jaco Prinsloo highlighted the record PGM production, the successful commissioning of the Thaba JV, and the companys focus on cost management and shareholder value creation through dividends and share buybacks. He also emphasized the companys commitment to safety, sustainability, and operational efficiency.
**Conclusion**
Sylvania Platinum Limited demonstrated strong operational and financial performance in FY2025, with record production, improved profitability, and significant progress in ESG initiatives. The company remains well-positioned for future growth with the Thaba JV and ongoing capital projects, while continuing to prioritize shareholder returns and sustainability.