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DRDGOLD reports 1% quarter-on-quarter increase in gold production

Details

Published: Wednesday, 19 October 2022 08:00

Johannesburg, South Africa. 19 October 2022. DRDGOLD Limited (JSE: DRD, NYSE: DRD) reports a 1% quarter-on-quarter increase in gold production to 1 453kg, due primarily to a 1% increase in tonnage throughput, in an operational update for the quarter ended 30 September 2022.

Gold sold decreased by 4kg to 1 442kg.

As a result of the above, cash operating costs per kilogram increased 2% from the previous quarter to R658 530/kg. Cash operating costs per tonne of material processed remained stable at R133/t.

All-in sustaining costs per kilogram were R755 201/kg, decreasing 14% quarter-on-quarter mainly due to a 68% decrease in sustaining capital expenditure. All-in costs per kilogram were R796 255/kg, decreasing 9% quarter-on-quarter.

Adjusted EBITDA decreased by 19% from the previous quarter to R386.4 million primarily due to an insurance claim of R84.7 million recognised in the previous quarter.

Cash and cash equivalents decreased by R280.5 million to R2 245.1 million after paying the final cash dividend of R342.5 million for the year ended 30 June 2022.

The cash generated during the current quarter will, inter alia, be applied towards the Company’s extended capital expenditure programme for the year ending 30 June 2023.

Despite the capital expenditure planned for the year, the Company remains in a favourable position to, in the absence of unforeseen events, consider declaring an interim cash dividend in or around February 2023.

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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