DRDGOLD has delayed plans to build a massive R1bn tailings facility as part of the expansion of its Far West Gold Recoveries (FWGR) opting instead to build a lower capex interim facility using existing infrastructure at Driefontein 2 mine.
Surface gold treatment group DRDGold has rewarded shareholders with a 20c a share dividend, paid out of income reserves – despite a 48% drop in earnings per share.
DRDGold has halved its interim dividend after reporting a 48 per cent drop in group profit and higher input costs. Niel Pretorius, CEO at DRDGOLD joins CNBC Africa to drill into the numbers.
“We are pleased to report a strong finish, attributable mainly to an increase in gold recoveries and a higher average gold price compared to the first three months of the period,” said CEO Niël Pretorius.
JOHANNESBURG (miningweekly.com) – Surface gold recovery company DRDGold, which on Wednesday continued its uninterrupted 15-year run of dividend paying, highlighted its R100-milllion-plus half-year contribution to the fiscus in income tax as an important current underpin of social systems that are helping the country to avoid abject poverty.
Covid had limited impact on performance, though climate change is now noticeably affecting operations.
DRDGold is keen to move into other metals in order to align itself with the green metal strategy being implemented by Sibanye-Stillwater, its largest shareholder.
DRDGOLD Ltd (NYSE:DRD, JSE:DRD), the mine tailings retreatment specialist, has reported that increased operating costs and a fall in the Rand gold price hit its earnings in the six months to end-December, 2021.
DRDGOLD said headline interim share earnings will decline between 43% and 53% owing to a year-on-year decline in the rand gold price and lower volumes from its Ergo operation. The gold retreatment company said share earnings would be 52.5 and 63.6 cents a share for the six month period ended December 31 compared to headline earnings of 111 cents per share last year.
Aim-listed DRDGold expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between 52.5c and 63.6c for the six months ended December 31, which represents a decrease of 43% to 53% from the EPS and HEPS of 111c reported for the six months ended December 31, 2020.
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Swiss Mining Institute (SMI) European Mining Investment 24 May 2023 (PDF - 4.54MB)
Results for the six months ended 31 December 2022 (PDF - 0.36 MB)