Form 6-K DRDGOLD LTD For: Oct 27
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
For October 2020
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
(
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 whether the registrant by furnishing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
☐
☑
If ''Yes'' is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b): N/A
Attached to the Registrant Form 6-K filing for the month of October 2020, incorporated by
reference herein:
Exhibit
99.1 Release dated October 27, 2020, “OPERATING UPDATE FOR THE QUARTER ENDED 30
SEPTEMBER 2020”
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: October 27, 2020 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
”)
OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2020
The operating update of the Company for the quarter ended 30 September 2020 is as follows:
Quarter ended
Quarter ended
30 SEP 2020
30 JUN 2020
% change
Production
Gold produced
kg
1,514
1,041
45%
oz
48,676
33,469
45%
Gold sold
kg
1,522
951
60%
oz
48,934
30,576
60%
Ore milled
Metric (000't)
7,260
5,737
27%
Yield
Metric (g/t)
0.209
0.181
15%
Price and costs
Average gold price received
R per kg
1,029,893
970,198
6%
US$ per oz
1,896
1,682
13%
Adjusted EBITDA *
Rm
770.4
366.3
110%
US$m
45.6
18.9
141%
Cash operating costs
R/t
104
102
2%
US$/t
6
6
-
Cash operating costs
R per kg
489,750
542,482
-10%
US$ per oz
901
941
-4%
All-in sustaining costs **
R per kg
588,239
579,180
2%
US$ per oz
1,083
1,004
8%
All-in cost **
R per kg
613,206
597,371
3%
US$ per oz
1,129
1,036
9%
Capital expenditure
Sustaining
Rm
95.1
84.4
13%
US$m
5.6
4.7
19%
Non-sustaining/growth
Rm
25.3
4.5
462%
US$m
1.5
0.3
400%
Average R/US$ exchange rate
16.90
17.94
-6%
Rounding of figures may result in computational discrepancies
* A
djusted earnings before interest, taxes, depreciation and amortisation ("
Adjusted EBITDA
") may not be comparable
to similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under International
Financial Reporting Standards (IFRS) and should be considered in addition to, and not as a substitute for, other measures
of financial performance and liquidity.
**
All-in cost definitions based on the guidance note on non-GAAP Metrics issued by the World Gold Council on 27 June
2013
.
Gold production increased by 45% from the previous quarter to 1,514kg primarily due to a 27% increase in
tonnage throughput and a 15% increase in yield. Gold sold increased by 60%.
As a result, the cash operating cost per kilogram of gold sold decreased by 10% from the previous quarter
to R489,750/kg. The cash operating cost per ton of material processed increased by 2% to R104/t.
All-in sustaining costs per kilogram and all-in costs per kilogram were R588,239/kg and R613,206/kg,
respectively, increasing quarter on quarter mainly due to an increase in susta ining capital expenditure.
Adjusted EBITDA increased by 110% from the previous quarter to R770.4 million primarily due to a 60%
increase in gold sold and a 6% increase in the average Rand gold price received of R1,029,893/kg.
Cash and cash equivalents increased by R 300.1 million to R2,015.2 million as at 30 September 2020 after
paying the final dividend for the year ended 30 June 2020 of R299.1 million. External borrowings remained
at Rnil as at 30 September 2020 (30 June 2020: Rnil).
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 2021. Despite the capital expenditure planned
for the year, management positions the Company favourably to, in the absence of unforeseen events,
consider declaring an interim dividend in February 2021 .
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.
Johannesburg
27 October 2020
Sponsor
One Capital
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Transaction in Own Shares
- Natural GrocersĀ® Pledges Portion of Opening-Day Sales at New Location in Warr Acres, Oklahoma, to Natural Grocers Heroes in Aprons Fund
- Vagaro Survey Highlights Neurodiversity in the Salon & Spa Industry
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!