Media releases

Update regarding the disposal of the mineral interests and option granted to dispose of the related mining infrastructure of East Rand Proprietary Mines Limited

26 June 2019

DRDGOLD shareholders (“Shareholders”) are referred to the announcement published on SENS on 26 February 2019 (“Announcement”) in respect of the disposal of the mineral interests, comprising the mining rights and prospecting right of East Rand Proprietary Mines Limited (“ERPM”) and the granting of an option to OroTree Limited (“OroTree”) to acquire the Mining Infrastructure Assets (as defined in the Announcement) to access the deep underground ounces of ERPM (the “Option”), as one indivisible transaction.

In terms of the Option, OroTree, in its sole and absolute discretion, could exercise its option to acquire the Mining Infrastructure Assets on or before 30 June 2019.  

Shareholders are advised that OroTree has elected to not exercise the Option and, as such, the balance of the purchase consideration in respect of the Mining Infrastructure Assets of US$10.3 million, less the non-refundable fee of US$500 000.00 will not be paid to the Company.

Johannesburg
26 June 2019

Sponsor
One Capital