Aim-listed Sylvania Platinum has launched a share buyback of up to $1.5-million after reporting record full-year production and a sharp increase in earnings.

The platinum-group-metals (PGM) producer recorded 95,885 oz of platinum, palladium, rhodium and gold (4E) during the financial year ended June 30, 2026, exceeding its original guidance and increasing production by 18% from 81,002 oz in the previous year, Creamer Media reported on September 15.

The company generated net revenue of $226.3-million, up 117% year on year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 289% to $114.2-million.

Net profit increased 229% to $66.4-million, with the average 4E gross basket price reaching $2,404/oz.

Sylvania's attributable chrome concentrate production totalled 50,317 t for the year, within its revised guidance range.

For the 2027 financial year, the company is targeting 85,000 oz to 95,000 oz of 4E PGMs and 110,000 t to 140,000 t of attributable chrome concentrate.

The company declared a final cash dividend of 4p a share, taking its total dividend for the financial year to 6p a share.

CEO Jaco Prinsloo said the company would continue investing in expansion while maintaining shareholder returns.

“The company incurred material planned capital expenditure on expansion and new projects during the year and this will continue into the 2027 financial year. We will prioritise returns to our shareholders alongside our value creation and business sustaining requirements,” Prinsloo said.

Sylvania bought back about 1.98-million shares during the 2026 financial year for approximately $2.4-million.

It has now authorised a further programme to repurchase ordinary shares for a maximum consideration of $1.5-million, with the stated purpose of returning capital to shareholders.

Prinsloo said the company's financial position and operating performance provide flexibility as it considers further investment opportunities.

“The combination of our strong cash position, operational efficiencies and our lower-cost operations, gives us the flexibility to manage these requirements and to consider external expansion projects as they present themselves,” he said.

The new buyback will be executed by Panmure Liberum, which has been given discretion to purchase shares, including during any applicable closed period.