Sylvania Platinum earnings slip in the second quarter
Source - SMW
Sylvania Platinum said its earnings decreased in the second quarter after higher production was offset by rising costs.
Second-quarter Ebitda fell 11% to $4.93m compared to the first quarter. Revenue was stable at $14.1m.
'The past quarter, historically slower due to the Christmas period, was slightly more challenging than previous quarters with several technical projects being commissioned simultaneously,' chief executive Terry McConnachie said.
'It was, however, a significant quarter for the company, as we finalised the acquisition of Phoenix Platinum, renamed Lesedi, from Pan African Resources.'
At 8:19am: (LON:SLP) Sylvania Platinum Ltd share price was -1p at 14.25p