Form 6-K DRDGOLD LTD For: Feb 03
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 6-K
REPORT OF A FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
February 3, 2023
Commission File Number 0-28800
______________________
DRDGOLD Limited
Constantia Office Park
Cnr 14th Avenue and Hendrik Potgieter Road
Cycad House, Building 17, Ground Floor
Weltevreden Park 1709
(
Address of principal executive offices
)
______________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-
F or Form 40-F.
Form 20-F
☑
☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(1):
☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(7):
☐
Exhibit
99.1 Release dated February 3, 2023 “VOLUNTARY TRADING STATEMENT AND TRADING
UPDATE FOR THE SIX MONTHS ENDED 31 DECEMBER 2022”
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DRDGOLD LIMITED
Date: February 3, 2023 By: /s/ Riaan Davel
Exhibit 99.1
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1895/000926/06)
ISIN: ZAE000058723
JSE share code: DRD
NYSE trading symbol: DRD
(“
DRDGOLD
” or the “
Company
” or the “
Group
”)
VOLUNTARY TRADING STATEMENT AND TRADING UPDATE FOR THE SIX MONTHS ENDED 31
DECEMBER 2022
DRDGOLD is in the process of finalising its results for the six months ended 31 December 2022 (“
Current
Reporting Period
”) and shareholders are accordingly advised that the Company has reasonable certainty that
for the Current Reporting Period it will report earnings per share (“
EPS
”) and headline earnings per share
(“
HEPS
”) of between 59.5 cents and 68.1 cents per share compared to EPS and HEPS of 58.0 cents per share
for the six months ended 31 December 2021 (“
Previous Corresponding Period
”), being an increase of between
2.6% and 17.4%.
The expected increases in EPS and HEPS for the Current Reporting Period compared to the Previous
Corresponding Period are mainly due to movements in,
inter alia
, the following items:
1. Revenue
Revenue increased by R155.8 million, or 6%, to R2,654.3 million (2021: R2,498.5 million).
Ergo Mining Proprietary Limited’s (“
Ergo
”) revenue increased by R153.8
million to R1,958.5 million (2021:
R1,804.7 million), mainly due to an 11% increase in the Rand gold price received as well as a 10% increase
in yield to 0.203g/t from 0.184g/t to make up for the 2% decrease in gold sold to 2,040Kg (2021: 2,090Kg).
Volume throughput decreased by 14% mainly as a result of unprecedented load shedding, unscheduled
electricity trip-outs at the Ergo plant related to the Eskom grid, and excessive rain. Volume throughput was
also impacted by late phase clean-up at Ergo sites where, as the last material is lifted from the floor of the
reclamation site, volumes are typically lower and head grades slightly higher.
Far West Gold Recoveries’ (“
FWGR
”) revenue remained stable at R695.8 million (2021: R693.8 million). The
11% increase in the Rand gold price received was offset by a 10% decrease in gold sold to 722Kg (2021:
801Kg). Volume throughput decreased by 3% mainly due to severe weather causing damage to the
reclamation drawdown point at Driefontein 5, resulting in 4 days of lost tonnages. Yield decreased by 0.012g/t,
or 5%, to 0.245g/t from 0.257g/t in part attributable to the processing of a lower-grade part of the Driefontein
No 5 dump and the suspension of milling to curtail load during periods of load shedding.
2. Cash operating costs
The impact of the increase in revenue on earnings and headline earnings was moderated by an increase in
cash operating costs of R159.3 million, or 10%, to R1,839.5 million (2021: R1,680.2 million).
At Ergo, cash operating costs increased by R122.4 million, or 8%, to R1,594.2 million (2021: R1,471.8 million),
and, at FWGR, cash operating costs increased by R36.9 million, or 18%, to R245.3 million (2021: R208.4
million). At both Ergo and FWGR, these increases were consistent with anticipated double digit inflationary
increases in the cost of reagents, steel-related products, electricity and transportation.
3. Liquidity
As at 31 December 2022, DRDGOLD held R2,392.2 million in cash and cash equivalents compared to
R2,525.6 million on 30 June 2022. During the Current Reporting Period, DRDGOLD generated free cash flow
(cash inflow from operating activities less cash outflow from investing activities) of R215.4 million (2021: 406.9
million) after a R223 million increase to R421.5 million in investing activities and paying cash dividends of
R342.5 million (2021: R345.5 million). The Group remains free of any bank debt as at 31 December 2022 (30
June 2021: Rnil).
The financial information contained in this announcement is the responsibility of the directors of DRDGOLD, and
such information has not been reviewed or reported on by the Company’s auditors.
The condensed consolidated interim results for the six months ended 31 December 2022 are expected to be
published on SENS on or about 15 February 2023.
Johannesburg
3 February 2023
Sponsor
One Capital
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