Operations Update

RNS Number : 7694Z

Sylvania Platinum Limited

12 March 2013

 



Sylvania Platinum Limited

("Sylvania Platinum", "Sylvania" or the "Company")

(AIM: SLP)

Operations Update

On 10 February 2013 an underground accident occurred at Samancor's Mooinooi host mine. Following an accident investigation, the Department of Mineral Resources ("DMR") issued a Section 54 order on 10 February 2013, stopping all underground operations at Mooinooi and therefore also stopping feed to Sylvania's Mooinooi run-of-mine ("ROM") plant. Underground operations resumed on 18 February 2013. During this period dump material was still being fed into Sylvania's ROM plant.

Following a separate underground incident at Samancor's Millsell host mine on 27 February 2013, the DMR issued a Section 54 order requiring the immediate cessation of all underground work at the Millsell mine which had the effect of stopping all current arisings to Sylvania's Millsell plant. Sylvania has been working closely with all relevant parties following the incidents and is pleased to announce that the work stoppage was lifted on 8 March 2013.

The estimated production loss to Sylvania as a result of the stoppages is approximately 900 oz and the Company is currently reviewing strategies to make up these losses. During the period Sylvania's other operations on the Eastern limb continued with production as planned.

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CORPORATE INFORMATION

Registered office:    Sylvania Platinum Limited

                                    Clarendon House

                                    2 Church Street

                                    Hamilton HM 11

                                    Bermuda

Postal address:         PO Box 524

                                    Wembley WA 6913

                                    Australia

CONTACT DETAILS

For further information please contact: 

Terence McConnachie (CEO) Nigel Trevarthen (Deputy CEO) [phone]
Nominated Adviser and Broker Liberum Capital Limited Michael Rawlinson/Tom Fyson/Christopher Kololian [phone] Sylvania Website: www.sylvaniaplatinum.com	Communications Newgate Threadneedle Graham Herring/Beth Harris [phone]

 

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