Drdgold Ltd 6-K, filed Feb 1, 2021
Drdgold Ltd (DRD)
6-K
2021-02-01
For: 2021-02-01
View Original
Added on
April 11, 2026
About this 6-K
Drdgold Ltd filed this 6-K on February 1, 2021.
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM 6-K
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REPORT OF A FOREIGN PRIVATE ISSUER
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PURSUANT TO RULE 13a-16 OR 15d-16
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UNDER THE SECURITIES EXCHANGE ACT OF 1934
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For February 2021
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Commission File Number 0-28800
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DRDGOLD Limited
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Constantia Office Park
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Cnr 14th Avenue and Hendrik Potgieter Road
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Cycad House, Building 17, Ground Floor
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Weltevreden Park
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South Africa, 1709
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(Address of principal executive offices)
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______________________
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
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Form 20-F ☑ Form 40-F ☐
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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.
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Yes ☐ No ☑
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If ''Yes'' is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
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Attached to the Registrant Form 6-K filing for the month of February 2021, incorporated by reference herein:
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Exhibit
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99.1 Release dated February 1,
2021, “TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2020.”
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SIGNATURES
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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.
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DRDGOLD LIMITED
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Date: February 1, 2021
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By:
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/s/ Riaan Davel
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Name: Riaan Davel
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Title: Chief Financial Officer
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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")
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TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2020
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In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree
of certainty, that the financial results for the current reporting period will differ by at least 20% from the financial results of the previous corresponding period.
DRDGOLD is in the process of finalising its results for the six months ended 31 December 2020 ("Current
Reporting Period") and shareholders are accordingly advised that the Company has reasonable certainty that it will report earnings per share ("EPS") and headline
earnings per share ("HEPS") of between 106.2 cents and 115.8 cents per share compared to EPS and HEPS of 48.5 cents and 48.4 cents per share for the previous corresponding
period, respectively.
The expected increases in EPS and HEPS for the Current Reporting Period compared to the previous corresponding period are due mainly to movements in, inter alia, the following items:
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Revenue
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Revenue increased by R866.0 million, or 41%, to R2,977.4 million (2019: R2,111.4 million).
Ergo Mining Proprietary Limited's ("Ergo") revenue increased by R679.1 million to R2,268.7 million
(2019: R1,589.6 million), due mainly to a 42% increase in the Rand gold price received as well as a 1% increase in gold sold. Volume throughput increased by 3% to mitigate a 3% decrease in yield due mainly to the previously reported depletion of
high-grade reserves available to the Knights plant.
Far West Gold Recoveries' ("FWGR") revenue increased by R186.9 million to R708.7 million (2019: R521.8
million) due mainly to a 42% increase in the Rand gold price received. Gold sold decreased by 5%, a result of a 6% decrease in yield to 0.232g/t from 0.248g/t as reclamation progressed towards the lower-grade central portion of the Driefontein No 5
dump.
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Cash operating costs
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The impact of the increase in revenue on earnings and headline earnings was moderated by an increase in cash operating costs of R141.5 million, or 10%, to R1,518.8 million (2019:
R1,377.3 million).
At Ergo, cash operating costs increased by R116.8 million, or 10%, to R1,316.9 million (2019: R1,200.1 million) due both to the 3% increase in volume throughput and an increase in
the use of reagents.
At FWGR, cash operating costs increased by R24.7 million, or 14%, to R201.9 million (2019: R177.2 million) as a result of increased costs associated with milling, which was not
operational for the whole of the previous corresponding period.
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Weighted average number of ordinary shares
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EPS and HEPS increased notwithstanding the impact on the Current Reporting Period of the issuance of 168,158,944 shares to Sibanye Stillwater Limited at an aggregate subscription
price of R1,085,590,116, on 22 January 2020. The weighted average number of ordinary shares for the Current Reporting Period increased by 24% to 855,113,791 from 686,954,847 in the previous corresponding period.
Liquidity
As at 31 December 2020, DRDGOLD's cash and cash equivalents was R2,169.4 million (30 June 2020: R1,715.1 million), with a revolving credit facility with ABSA Bank Limited of R200
million, available if needed. The Group remains free of any bank debt as at 31 December 2020 (30 June 2020: Rnil). Liquidity is further enhanced by current high Rand gold price levels.
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 unreviewed interim results for the six months ended 31 December 2020 are expected to be published on or about 16 February 2021.
Johannesburg
1 February 2021
Sponsor
One Capital