6-K - DRD - Equibles

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 May 2021

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

South Africa, 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

☑

Form 40-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 May 2021, incorporated by reference

herein:

Exhibit

99.1 Release dated

May 5,

2021, “OPERATING

UPDATE

FOR THE

QUARTER ENDED

MARCH 2021”

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: May 5, 2021 By: /s/ Riaan Davel

Name: Riaan Davel

Title: Chief Financial Officer

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 31 MARCH 2021

The operating update of the Company for the quarter ended 31 March 2021 is as follows:

Quarter ended

31 MAR 2021

31 DEC 2020

% change

Production

Gold produced

1,382

1,470

-6%

44,433

47,262

-6%

Gold sold

1,363

1,484

-8%

43,822

47,712

-8%

Ore milled

Metric (000't)

7,272

7,073

Yield

Metric (g/t)

0.190

0.208

-9%

Price and costs

Average gold price received

R per kg

857,895

947,056

-9%

US$ per oz

1,785

1,888

-5%

Adjusted EBITDA *

371.7

571.0

-35%

US$m

25.7

37.0

-31%

Cash operating costs

R/t

102

108

-6%

US$/t

Cash operating costs

R per kg

549,817

532,480

US$ per oz

1,144

1,062

All-in sustaining costs **

R per kg

645,488

607,210

US$ per oz

1,343

1,211

11%

All-in costs **

R per kg

654,072

628,571

US$ per oz

1,361

1,253

Capital expenditure

Sustaining

77.8

68.4

14%

US$m

5.2

4.4

18%

Non-sustaining/growth

13.3

-100%

US$m

0.9

-100%

Average R/US$ exchange

rate

14.95

15.60

-4%

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 decreased by

6% from the

previous quarter to 1,382kg

primarily due to a

9% decrease in

yield despite a 3% increase in tonnage throughput. Gold sold decreased by 8%.

As a result

of the above,

the cash operating

costs per kilogram

of gold sold

increased by 3%

from the previous

quarter to R549,817/kg. The cash operating

costs per ton of material processed

decreased by 6% to R102/t.

All-in sustaining

costs per

kilogram and

all-in costs

per kilogram

were R645,488/kg

and R654,072/kg,

respectively, increasing quarter on quarter mainly due to an increase in sustaining capital expenditure.

Adjusted EBITDA

decreased by 35%

from the

previous quarter

to R371.7

million primarily due

to an

decrease in gold sold and a 9% decrease in the average Rand gold price received of R857,895/kg.

Cash and cash

equivalents decreased by

R3.7 million to

R2,165.7 million as

at 31 March

2021 (31 December

2020: R2,169.4 million) after paying the interim cash dividend of R341.8 million for the six months ended 31

December 2020. External borrowings remained at Rnil as at 31 March 2021 (31 December 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, the Company remains

in a favourable position

to, in the absence

of unforeseen events, consider

declaring a final cash dividend in or around August 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

5 May 2021

Sponsor

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