DRDGOLD to raise R111 million for new flotation-grind plant
02 July 2012
Johannesburg, South Africa. 2 July 2012. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) announced today that the Johannesburg Stock Exchange has granted it a listing in terms of its Domestic Medium-Term Note Programme.
The programme provides for the issue of loan notes totalling R111 million.
DRDGOLD CEO Niël Pretorius says the funds raised will be directed towards the previously announced construction of a new R250 million flotation and fine grind circuit at the Brakpan plant of the companys Ergo surface retreatment operation.
The balance of the capital cost of this circuit will be funded from cash generated by the operation.
Construction of the flotation and fine grind circuit which is targeted to increase Ergos gold production by between 16 and 20% is already under way. Commissioning is expected to begin during February 2013 with full production attained by the beginning of July 2013.
South Africa & North America
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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 2011, which we filed with the United States Securities and Exchange Commission on 28 October 2011 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 statement included in this report have not been reviewed and reported on by DRDGOLD’s auditors.