march quarter pretax profit up 134 percent, page-2

At SDO, production grew by 48%, while output lagged at its 25% held Chrome Tailing Retreatment Project managed by Aquarius Platinum. Output fell by nearly 20% at 2,309 total oz because of decreased recoveries blamed on more oxidised material through the plant.


By the end of the calendar year 2008, Sylvania will a number of further dump treatment plants completed, including Lannex, which, with feed of 70,000 tonnes/month, will be double the size of the existing two plants.

“Increasing SDO production, cost reductions and continued buoyancy of the PGM market augur well for stronger revenues and profits,” said CEO Terry McConnachie of the fourth quarter.

“Groundwork continues to be laid for the company’s future growth in respect of additional tailings dumps and near-surface mining activities,” he said.

Sylvania is engaging Aquarius Platinum to return the Everest North prospect to its larger peer in exchange for the rights to recover PGMs and chromite from Aquarius Platinum tailings.

In the mean time, Sylvania is completing a bankable feasibility study into a mine and plant at Everest North. It is also in negotiations with Eastern Platinum to set up a joint mining venture at Everest North and the contiguous property.

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