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Sylvania Platinum ( (GB:SLP) ) has issued an update.
Sylvania Platinum Limited has announced a share buyback plan to purchase up to $1.6 million worth of its ordinary shares with the aim of reducing its share capital. This buyback will be conducted on-market and funded from the company’s existing cash reserves. Due to limited liquidity, the buyback may constitute a significant portion of daily trading volume, potentially exceeding regulatory limits. The initiative, which underscores Sylvania’s focus on optimizing shareholder value, will be in effect until 28 February 2025, although there is no guarantee of full implementation.
More about Sylvania Platinum
Sylvania Platinum is a cost-efficient producer of platinum group metals (PGMs) such as platinum, palladium, and rhodium, with operations based in South Africa. The company operates the Sylvania Dump Operations (SDO), which is the largest PGM producer from chrome tailings re-treatment in the industry, focusing on the retreatment of PGM-rich chrome tailings materials. In addition, Sylvania is involved in the Thaba Joint Venture, which includes chrome beneficiation and PGM processing plants, and holds mining rights for PGM projects in the Northern Limb of the Bushveld Igneous Complex.
YTD Price Performance: -44.38%
Average Trading Volume: 981,675
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £104.6M
See more insights into SLP stock on TipRanks’ Stock Analysis page.
