By: Creamer media

The average 4E gross basket price increased by 18% in rand terms and 22% in dollars, and this, together with the marginal contribution from attributable chrome sales to revenue of $600 000, resulted in an improved net revenue performance of $54.8-million from $45.1-million in the previous quarter, he informs.

SDO declared 31 380 oz platinum, palladium, rhodium, ruthenium, iridium and gold (6E) PGM in the period, a marginal increase quarter-on-quarter.

Construction of the centralised PGM filtration plant was completed during the quarter and is fully operational; the successful commissioning marks a major operational milestone that ensures consistent delivery of high-quality concentrate, Sylvania points out.

First chrome and PGM concentrate products from the Thaba joint venture (JV) were dispatched during the period.

While the Thaba JV ramp-up was slightly lower than anticipated, the first dispatch represents an important stage in the operational ramp-up, Prinsloo explains.

“Despite the slower production ramp-up of the Thaba JV project, the project remains on track to become a significant revenue contributor for the company once it reaches full operational capacity and the investment fundamentals remain robust,” he avers.

Both this and the SDO were lost-time-injury-free during the quarter; while Mooinooi achieved one-year total injury freedom during the period.

Adjusted group earnings before interest, taxes, depreciation and amortisation were $29.8-million, a 35% increase from $22-million in the previous quarter.

The environmental, social and governance report for full-year 2025 was released.

A final dividend of 2p apiece for full-year 2025 was paid on December 5, 2025, amounting to $6.8-million.

Following a consecutive impressive quarter by SDO, PGM production guidance for full-year 2026 has been revised up to between 90 000 oz and 93 000 oz of 4E PGM from initial guidance of 83 000 oz to 86 000 oz of 4E PGM, with a chrome concentrate target of 60 000 t to 90 000 t adjusted lower in line with Thaba JV ramp-up progress.