Revenue from the South Africa project rose 18% to £760,000 compared to a month ago on the back of a 22% month-on-month gain in production to 1,427 ounces of platinum (PGM).
Project earnings grew 47% month-on-month to £370,000 as unit cost per PGM fell to US$406 from US$449 in September.
"The Hernic project continues to deliver excellent results as we step up the throughput during the final optimisation of the operation,” said chief executive Leon Coetzer.
“Our October results illustrate the significant improvement in operational performance during this optimisation phase, which we expect to continue over the next quarter.
“I am particularly delighted by the earnings margin that the project is already achieving with a unit cost of only US$406 making the Hernic project one of the lowest cost PGM producers in the industry."