Operating update for Q1 FY2019, ended 30 September 2018
31 October 2018
Johannesburg, South Africa. 31 October 2018. DRDGOLD Limited (DRDGOLD; JSE, NYSE:DRD), in an operating update for the first quarter of the 2019 financial year (FY2019) ended 30 September 2018 released today, reported gold production of 1 169kg from throughput of 6 249 000t at an average grade of 0.187g/t.
This, the company says, tracks guidance previously provided of between 148 000 and 154 000 ounces for FY2019.
Cash operating costs per ton increased by 7%, from R88/t in FY2018 to R94/t. Cash operating costs per kilogram and all in sustaining costs per kilogram were also higher.
All in costs per kilogram include growth capital of just under R115 million relating to Far West Gold Recoveries.
In today’s announcement, the company says that – subsequent to implementation of the acquisition of the Far West Gold Recoveries assets from Sibanye-Stillwater with effect from 31 July 2018 and as Sibanye-Stillwater provides operating updates on a quarterly basis – DRDGOLD will also provide quarterly updates going forward.
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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 2018, which we filed with the United States Securities and Exchange Commission on 31 October 2018 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.