The Directors are pleased to present the interim financial results for the six months ended 31 December 2017. Unless otherwise stated, the consolidated financial information contained in this report is presented in USD.
Commenting on the period, Sylvania’s CEO Terry McConnachie said:
“The past six months was an exciting period where the management team worked diligently to successfully integrate the newly acquired Lesedi operation and to deliver and commission the first two modules of Project Echo at Millsell and Doornbosch.
Although we were faced with some unique operational challenges that affected our stated production guidance, I am pleased with the operational team’s performance and action plans to recover and to ensure future production, cost and profit targets are achieved. Guidance for FY2018 is between 71,000 ounces and 75,000 ounces, which we expect to increase to approximately 78,000 ounces from FY2019 onwards.”