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Production update: 4% rise in gold production, 17% increase in operating profit
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
NYSE trading symbol: DRD
(“DRDGOLD”)
PRODUCTION UPDATE: 4% RISE IN GOLD PRODUCTION, 17% INCREASE IN OPERATING PROFIT
DRDGOLD, in a production update released today, reported a quarter on quarter improvement
in gold production of 4%, an increase in operating profit of 17% and a drop in all-in sustaining
costs of 14%.
The increase in gold production was the result of a 9% increase in the average yield, which
offset a 4% drop in throughput.
In the quarter under review, construction of the flotation/fine-grind (“FFG”) circuit at Ergo’s
Brakpan Plant was completed and full production through this circuit got under way in the third
week of January 2014.
DRDGOLD CEO Niel Pretorius said: “We are pleased that production was back up, but we
would have preferred to have had the FFG circuit fully operational by the end of
December 2013. That is what we told the market we were aiming for. Unfortunately, delays in
getting the last of three thickeners up and running pushed final commissioning back by at least
three weeks.”
For the half-year ended 31 December 2013 gold production was down 8% compared with the
first six months of FY2013, the combined effect of a very solid second quarter in FY2013 and a
poor first quarter in FY2014. Cash operating profit was down 62% on the back of the drop in
production, a 14% rise in all-in sustaining unit costs and a 9% decline in the average gold price
received.
DRDGOLD’s full operating and financial results for the quarter and six months ended
31 December 2013 will be released on Tuesday, 11 February 2014.
Roodepoort
5 February 2014
Sponsor
One Capital
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