6-K
Drdgold Ltd (DRD)
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 2021
Commission File Number 0-28800
______________________
DRDGOLD Limited
1 Sixty Jan Smuts Building, 2
nd
Floor-North Tower
160 Jan Smuts Avenue, Rosebank
South Africa, 2196
(
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
☐
No
☑
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 September 2021, incorporated
by reference herein:
Exhibit
99.1
Release dated October 25,
2021, “OPERATING
UPDATE
FOR THE QUARTER
ENDED 30
SEPTEMBER 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: October 25, 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 30 SEPTEMBER
2021
1.
Operating Update
The operating update of the Company for the quarter
ended 30 September 2021 is as follows:
Quarter
Quarter
30 SEP 2021
30 JUN 2021
%
Production
Gold produced
kg
1,449
1,357
7%
oz
46,587
43,629
7%
Gold sold
kg
1,428
1,365
5%
oz
45,912
43,886
5%
Ore milled
Metric (000't)
7,421
7,506
-1%
Yield
Metric (g/t)
0.195
0.181
8%
Price and costs
Average gold price received
R per kg
839,983
821,647
2%
US$ per oz
1,786
1,810
-1%
Adjusted EBITDA *
Rm
350.8
303.1
16%
US$m
24.0
21.5
12%
Cash operating costs
R/t
114
108
6%
US$/t
8
8
-
Cash operating costs
R per kg
566,317
595,824
-5%
US$ per oz
1,204
1,312
-8%
All-in sustaining costs **
R per kg
648,880
669,744
-3%
US$ per oz
1,380
1,475
-6%
All-in costs **
R per kg
667,157
681,905
-2%
US$ per oz
1,419
1,550
-8%
Capital expenditure
Sustaining
Rm
74.8
106.7
-30%
US$m
5.1
7.6
-33%
Non-sustaining/growth
Rm
13.9
9.1
53%
US$m
1
0.6
67%
Average R/US$ exchange rate
14.63
14.12
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
increased by
7% from
the previous
quarter to
1,449kg primarily
due to
an 8%
increase in
yield. Gold sold increased by 5% to 1,428kg.
Although increases in electricity and labour
costs with effect from July 2021
resulted in higher cash operating
costs, the increase
in the
number of
gold units
produced and sold
resulted in a
5% decrease in
cash operating
costs
per
kilogram
of
gold
sold
to
R566,317/kg.
The
cash
operating
cost
per
ton
of
material
processed
increased by 6% to R114/t.
All-in
sustaining
costs
per
kilogram
and
all-in
costs
per
kilogram
were
R648,880/kg
and
R667,157/kg,
respectively, decreasing
quarter on quarter mainly due to a decrease in sustaining
capital expenditure.
Adjusted
EBITDA
increased
by
16%
from
the
previous
quarter
to
R350.8
million
primarily
due
to
a
5%
increase in gold sold and a 2% increase in the average
Rand gold price received.
Payment
of
the
final
dividend
declared
for
the
year
ended
30
June
2021
of
R345.2
million
and
negative
working
capital
changes
of
R173.5
million
at
30
September
2021
reduced
cash
and
cash
equivalents
by
R276.8 million to R1,903.2 million at 30 September 2021 (30 June 2021: 2,180 million). External borrowings
remained at Rnil as at 30 September 2021 (30 June 2021:
Rnil).
The cash
generated during
the current
quarter will,
inter alia
, be
applied towards
the Company’s
extended
capital expenditure
programme for the
financial year
ending 30 June
- Despite
the capital
expenditure
planned for the
financial 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 2022.
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
25 October 2021
Sponsor
One Capital