Sylvania Platinum's Sylvania Dump Operation (SDO) produced 20,173 4E PGM oz, in line with guidance and ahead of the previous quarter, when it produced 4E PGMoz.

But revenue fell slightly in the quarter, to US$19.7 million, down from $24.4 million. EBITDA of $2.8 million was down from $7.8 million in the previous quarter.

"The 15% lower PGM basket price recorded during the quarter impacted both the 4E revenue as well as the sales adjustment for the quarter," said chief executive Jaco Prinsloo.

Sylvania Platinum expects to commission its Lannex fine grinding circuit in the next quarter, as it continues to optimise performance at its flotation circuit.

Sylvania said its Lannex MF2 flotation circuit was commissioned, with optimisation efforts underway, with the completion and commissioning of the Lannex fine grinding circuit in the next quarter expected to improve recoveries.

Meanwhile, an updated mineral resource estimate (MRE) statement for both Volspruit North and South orebodies is currently in review.

"I am happy with the good start to the new financial year where the SDO achieved 20,173 4E PGM oz for the quarter," Prinsloo said.

"This performance was achieved on the back of a solid production effort from all operations, with all plants exceeding production throughput targets, as well as the contribution of the new Lannex flotation MF2 circuit that also added to our performance."

"Operations continue to navigate higher global cost inflation impacts; thus, operating cost focus remains a top priority for management," Prinsloo said.

"The optimisation of value from the exploration assets remains a key component of Sylvania Platinum's growth strategy and will aid in supporting the company's future value proposition for all stakeholders."