Sylvania Platinum (SLP) Corporate presentation summary

H1 operating performance

• SDO produced 29,519 oz in H1 FY2016, its second-highest half-year output and up 12% vs H2 FY2015 (26,246 oz).

• Cash cost was $508/oz, down 25% vs H2 FY2015 ($678/oz) and below $700/oz guidance; FY2016 production target was 55,000 oz at costs below $500/oz.

• No LTIs occurred; Steelpoort reached eight years LTI-free during the period.

Financial and capital allocation

• Adjusted EBITDA was $3.6m in H1 FY2016, up 59% vs H2 FY2015 ($2.3m).

• G&A charges fell 25% to $1.2m from $1.6m in H1 FY2015; SDO capex fell 60% to $0.7m from $1.8m.

• 6.2m shares were repurchased and held in treasury for award to senior management subject to performance criteria.

Operating platform

• Seven chrome-tailings processing complexes were fully operational; steady-state infrastructure supported consistent annual production of ~50koz.

• Current and historic chrome tailings contain 1.5–5 g/t PGMs; chrome is extracted and returned to host mines, while PGM concentrate is sold to smelters.

• Committed capex was declining toward primarily sustaining expenditure on dump operations.