Trading statement for year ended 30 June 2017
25 August 2017
Johannesburg, South Africa. 25 August 2017. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD), in a trading statement released today, advises its shareholders that, for the year ended 30 June 2017, it expects to report earnings per share of between 1.7 cents and 4.7 cents per share.
This is a decrease of between 88% to 68%, respectively, compared to 14.7 cents earnings per share for the year ended 30 June 2016.
Headline loss/earnings per share is expected to be between a loss of 1.0 cents and earnings of 1.5 cents per share (a decrease of between 108% to 88%, respectively) compared to headline earnings of 12.7 cents per share previously.
The expected decrease in earnings per share and headline earnings per share are due primarily to higher cash operating unit costs from the more expensive clean-up activities associated with the legacy sites in the western Witwatersrand, including the “knock-on” effect of processing this reclaimed material resulting in a lower overall yield.
As a result, gold production for the year was down by 4% to 4 265 kilograms.
The above information has not been reviewed or reported on by the Company’s auditors. The Company’s results are expected to be published on or about 5 September 2017.
South Africa & North America
Investor and Media Relations
R&A Strategic Communications
+27 11 880 3924 (office)
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Investor and Media Relations
Phil Dexter, St James’s Corporate Services
+44 (0) 20 7796 8644 (office)
+44 (0) 779 863 4398 (mobile)
For more information, please visit www.drdgold.com
Forward looking Statements
Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a sustained strengthening of the Rand against the Dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licenses or other governmental approvals, changes in DRDGOLD’s competitive position, changes in business strategy, any major disruption in production at key facilities or adverse changes in foreign exchange rates and various other factors. These risks include, without limitation, those described in the section entitled “Risk Factors” included in our annual report for the fiscal year ended 30 June 2016, which we filed with the United States Securities and Exchange Commission on 31 October 2016 on Form 20-F. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events. Any forward-looking statements included in this release have not been reviewed and reported on by DRDGOLD’s auditors.