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DRDGOLD reports 3% quarter-on-quarter decrease in gold production

Details

Published: Wednesday, 04 May 2022 08:01

Johannesburg, South Africa. 4 May 2022. DRDGOLD Limited (JSE: DRD, NYSE: DRD) in an operational update for the quarter ended 31 March 2022, reports a 3% quarter-on-quarter decrease in gold production to 1 391kg, due primarily to a 5% decrease in tonnage throughput.

Gold sold decreased by 6% to 1 377kg.

As a result of the above, cash operating costs per kilogram increased by 3% from the previous quarter to R605 011/kg (R586 330/kg). Cash operating costs per tonne of material processed increased by 8% to R127/t.

All-in sustaining costs per kilogram was R677 996/kg (R681 887/kg), decreasing quarter-on-quarter mainly due to a decrease in sustaining capital expenditure. All-in costs per kilogram was R735 948/kg (R709 706/kg), increasing quarter on quarter mainly due to increased non-sustaining capital expenditure.

Adjusted EBITDA decreased by 3% from the previous quarter to R367.3 million primarily due to a 6% decrease in gold sold, which was in part offset by a 3% increase in the average Rand gold price received to R914 864/kg.

Cash and cash equivalents increased by R70.4 million to R2 309.5 million after paying the interim cash dividend of R167.8 million for the six months ended 31 December 2021.

Management positions the Company favourably to consider declaring a final cash dividend in or around August 2022, in the absence of unforeseen circumstances.

The Company remains free of bank debt as at 31 March 2022 (31 December 2021: Rnil).

The information contained in this announcement does not constitute an earnings forecast. The financial information provided is the responsibility of the directors of DRDGOLD, and such information has not been reviewed or reported on by the Company’s auditors.

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