Sylvania Platinum Lifts Guidance After Record PGM Output and Strong Quarter

Sylvania Platinum ( (GB:SLP) ) has shared an update.

Sylvania Platinum reported another record quarter for the three months to 31 December 2025, maintaining all-time high PGM production of 24,642 4E ounces and slightly surpassing the previous quarter’s output. The commissioning of a centralised PGM Filtration Plant was completed and is now fully operational, improving the consistency and quality of concentrate deliveries to smelters, while the Thaba Joint Venture dispatched its first chrome and PGM concentrate products, despite a slower-than-anticipated ramp-up. Stronger PGM prices and initial chrome sales lifted net revenue by 21% quarter-on-quarter to $54.8 million and boosted adjusted Group EBITDA by 35% to $29.8 million, even as unit costs and all-in sustaining costs rose. The group highlighted a robust safety performance, with all operations LTI-free and the Mooinooi plant marking a year without injuries, paid a final FY2025 dividend of 2 pence per share, and raised FY2026 PGM production guidance to 90,000–93,000 4E ounces, while trimming its chrome concentrate target to reflect Thaba’s ramp-up path, underlining confidence that the JV will become a significant future revenue contributor.

The most recent analyst rating on (GB:SLP) stock is a Buy with a £128.00 price target. To see the full list of analyst forecasts on Sylvania Platinum stock, see the GB:SLP Stock Forecast page.

Spark’s Take on GB:SLP Stock

According to Spark, TipRanks’ AI Analyst, GB:SLP is a Neutral.

The score is driven primarily by solid financial fundamentals (growth, improving margins, and low leverage), offset by the key risk of negative free cash flow. Technicals are strong but look overbought, while valuation appears reasonable with a moderate dividend yield.

To see Spark’s full report on GB:SLP stock, click here.

More about Sylvania Platinum

Sylvania Platinum is a lower-cost producer of platinum group metals and chrome with operations in South Africa. Its Sylvania Dump Operations comprise six chrome beneficiation and PGM processing plants that retreat PGM-rich chrome tailings from mines in the Bushveld Igneous Complex, making it the largest PGM producer from chrome tailings re-treatment in the industry. Through the Thaba Joint Venture, the group also processes run-of-mine and historical chrome tailings, adding a full-margin chrome concentrate revenue stream, and it holds mining rights for PGM projects in the Northern Limb of the Bushveld complex.

Average Trading Volume: 1,304,598

Technical Sentiment Signal: Buy

Current Market Cap: £316.1M

Learn more about SLP stock on TipRanks’ Stock Analysis page.