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 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

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 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

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 2020

The operating

update of the Company for the quarter ended 30 September

2020 is as follows:

Quarter ended

30 SEP 2020

30 JUN 2020

% change

Production

Gold produced

1,514

1,041

45%

48,676

33,469

45%

Gold sold

1,522

951

60%

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

US$ per oz

1,896

1,682

13%

Adjusted EBITDA *

770.4

366.3

110%

US$m

45.6

18.9

141%

Cash operating costs

R/t

104

102

US$/t

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

US$ per oz

1,083

1,004

All-in cost **

R per kg

613,206

597,371

US$ per oz

1,129

1,036

Capital expenditure

Sustaining

95.1

84.4

13%

US$m

5.6

4.7

19%

Non-sustaining/growth

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

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