DRDGOLD trading statement and production update: increase in EPS, HPS
01 February 2018
Johannesburg, South Africa. 1 February 2018. DRDGOLD Limited (DRDGOLD; NYSE, JSE: DRD), in a trading statement and production update released today, states that it expects to report earnings per share (EPS) of between 14.16 cents and 14.64 cents per share (cps) for the six months ended 31 December 2018, compared with 0.6 cps for the same period in FY2017.
Headline earnings per share (HEPS) are expected to be between 14.06 cps and 14.54 cps compared to a headline loss of 2.4 cps for the same period in FY2017.
The expected increase in earnings per share and headline earnings is due primarily to an 11% increase in gold produced despite a 4% decrease in the rand gold price received.
The company states that it is planning gold production from its operations of 147 000 to 153 000 ounces at cash operating costs of approximately R475 000 per kilogram for the year ending 30 June 2018.
The information released by the company today has not been reviewed or reported on by its auditors.
DRDGOLD’s results are expected to be published on or about 15 February 2018.
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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 2017, which we filed with the United States Securities and Exchange Commission on 31 October 2017 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.