DRDGOLD production update: for the quarter and half-year ended 31 December 2014
21 January 2015
Rise in gold production of about 6% expected
Johannesburg, South Africa. 21 January 2015. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) announced in a production update today that it expects an increase in gold production of the order of 6% for the half-year ended 31 December 2014 compared with the half-year ended 31 December 2013.
Operating profit for the six months is likely to be around 5% higher, in line with the increase in gold production for the same period, while the company’s cash and cash equivalents balance is expected to have increased by 19% since 30 September 2014.
Chief Executive Officer Niël Pretorius attributed the improvement in gold production to the restoration of metallurgical efficiencies and operating business improvements following the suspension of the company’s new flotation and fine-grind circuit in April 2014. Pretorius announced that following the successful completion of test work in December 2014, the second flotation stream was restarted in the second week of January 2015 while the third stream is expected to be up and running by the end of the week.
DRDGOLD’s full results for the quarter and six months ended 31 December 2014 will be released at or around 08:00 South African time on Thursday, 19 February 2015, via SENS and the company’s website, www.drdgold.com.
South Africa & North America
James Duncan, Russell and Associates
+27 11 880 3924 (office)
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Investor and Media Relations
Phil Dexter, St James’s Corporate Services
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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 2014, which we filed with the United States Securities and Exchange Commission on 31 October 2014 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 report have not been reviewed and reported on by DRDGOLD’s auditors.