DRDGOLD reports 7% quarter-on-quarter increase in gold production
25 October 2021
Johannesburg, South Africa. 25 October 2021. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRDGOLD) in an operational update for the quarter ended 30 September 2021, reports a 7% quarter-on-quarter increase in gold production to 1 449kg, due primarily to an 8% increase in yield.
Gold sold increased by 5% to 1 428 kg.
Higher electricity and labour costs with effect from July 2021, resulted in cash operating costs increasing by 5% to R566 317/kg. Cash operating costs per tonne of material processed increased by 6% to R114/t.
All-in sustaining costs per kilogram and all-in costs per kilogram were lower at R648 880/kg (R669 744/kg) and R667 157/kg (R681 905/kg) respectively, due mainly to a reduction in sustaining capital expenditure.
Adjusted EBITDA increased by 16% to R350.8 million, due mainly to the 5% increase in gold sold and 2% increase in the average Rand gold price received.
Cash and cash equivalents decreased by R276.8 million to R1 903.2 million after paying the final cash dividend for the year ended 30 June 2021 of R345.2 million.
Cash generated during the current quarter will be applied towards the Company’s extended capital expenditure programme for the year ending 30 June 2022. The Company remains in a favourable position to, in the absence of unforeseen events, consider declaring an interim dividend in February 2022.
The Company remains free of bank debt as at 30 September 2021 (30 June 2021: Rnil).
The information contained in this announcement does not constitute an earnings forecast and the financial information provided has not been reviewed or reported on by the Company’s auditors.
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