Debtless platinum group metals (PGMs) miner Sylvania Platinum achieved a 56% quarter-on-quarter increase in net revenue increased to $43.6-million for the quarter ended March 31, the third quarter of its financial year, buoyed by increased production and a 9% increase in the PGMs dollar basket price.
The miner recorded a net profit of $25.4-million for the quarter – a 123% increase quarter-on-quarter, thereby resulting in the group’s earnings before interest, taxes, depreciation and amortisation increasing by 83% to $32-million.