Strategy

Value creation

Cashflow [icon]

Free

cash flow

generation
  • Production of approximately 76koz to 78koz/year from current operations1
  • Low cash costs target < $600oz
Optimize [icon]

Optimisation

of value

from current resources and infrastructure
  • Implementation of secondary milling and flotation at operations through Project ECHO based on proven metallurgical performance and operating technology
Growth [icon]

Opportunistic

growth

through further tailing treatment deals
  • Continuously exploring and evaluating potential surface resources and projects
Preserve [icon]

Preserve

option value

in other assets and realise when possible
  • Would consider outright disposals, joint ventures, or spin-offs to maximise value to Sylvania's shareholders

Shareholder-friendly use of cash

Capital growth [icon]

Only commit

capital to growth projects

when internal hurdle rate is met
  • Funding Project ECHO from cash resources
Buy back shares [icon]

Opportunistic

buy back of shares

when share price is lower than internal company valuation
  • Satisfy Sylvania Share Option Scheme exercises and bonus share awards to prevent any dilution to shareholders, or cancel shares to enhance shareholder returns
Future shareholders dividends [icon]

Future

shareholder dividends

when liquidity and cash flow requirements for the business are met as per revised dividend guidelines

1 Steady state capacity including Project Echo modules, and subject to ore supply from the host mine FY2019 Outlook = 73,000 - 76,000oz 4E PGM

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