Sylvania Platinum’s Q2 Output Slumps

Sylvania Platinum Ltd. (ASX:SLP) announced its results for the quarter ended December 31, 2014, stating that its production declined to 14,701 ounces during the period.

As quoted in the press release:

After an exceptional quarter in Q1 FY2015, the ounce production declined during the second quarter, however still exceeding the Group’s business plan production for the period. The reduced production was due to the start-up and commissioning of hydro-mining as well as the planned holiday shut down period which affected the December and January’s supply of current arisings. The SDO produced 14,701 PGM ounces for the quarter, bringing the total to 31,341 ounces for the year to date.

Commenting on the quarter, CEO Terry McConnachie stated:

It is rewarding to see that in spite of the holiday shut down period in South Africa, the team diligently worked at achieving the company forecasts. It is especially pleasing to see the conversion from mechanical mining of the dumps over to a hydro-mining process being completed during this quarter. These changeovers to new production methods invariably have delays, but I want to congratulate our team for effecting these changes with minimum down time and delay.

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