Just a brief update on Sylvania, following news from the company yesterday. The group has announced full mechanical and electrical completion of its Millsell PGM flotation plant. Wet commissioning of the plant has now been completed and first operations on feed containing PGM's commenced a couple of days ago. All issues encountered in the commissioning phase have now been resolved and a good start to operations is now anticipated. Recent testwork on flotation feed material by the company's consultants Mintek demonstrated that there is excellent potential for PGM recovery.
Meanwhile, Sylvania continues to deliver good progress at its Steelport plant site where an integrated plant to recover both chrome and PGM's is nearing completion. Commissioning of the plant is expected to occur next month, at which point Sylvania will have two operational PGM flotation plants. We can expect further updates on production as various milestones are achieved. I advised buying the shares at 82.25p a couple of weeks ago, today the shares trade at 96p, a 17% return in just a few days. Newsflow will drive the shares higher - there is more to come here, the stance remains "buy".
From UK site.
SLV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
