Drdgold Ltd 6-K, filed May 8, 2023
Drdgold Ltd (DRD)
6-K
2023-05-08
For: 2023-05-08
View Original
Added on
April 11, 2026
About this 6-K
Drdgold Ltd filed this 6-K on May 8, 2023.
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
May 08, 2023
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 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
☑
☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(1):
☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by
Regulation S-T Rule 101(b)(7):
☐
Exhibit
99.1 Release dated May 08, 2023 “OPERATING UPDATE FOR THE QUARTER ENDED 31
MARCH 2023”
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 08, 2023 By: /s/ Riaan Davel
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 2023
The operating update of the Company for the quarter ended 31 March 2023 is as follows:
Quarter ended
Quarter ended
31 MAR 2023
31 DEC 2022
% change
Production
Gold produced
kg
4%
oz
4%
Gold sold
kg
(2%)
oz
(2%)
Ore milled
Metric (000't)
(8%)
Yield
Metric (g/t)
13%
Price and costs
Average gold price received
R per kg
11%
US$ per oz
10%
Adjusted EBITDA *
Rm
54%
US$m
52%
Cash operating costs
R/t
9%
US$/t
11%
Cash operating costs
R per kg
0%
US$ per oz
(1%)
All-in sustaining costs **
R per kg
(6%)
US$ per oz
(7%)
All-in costs **
R per kg
2%
US$ per oz
1%
Capital expenditure
Sustaining
Rm
(6%)
US$m
(7%)
Non-sustaining/growth
Rm
147%
US$m
143%
Average R/US$ exchange rate
1%
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 4% from the previous quarter to 1,329kg primarily due to yield being 0.03g/t higher
at 0.255g/t, and despite an 8% decrease in ore treated. Gold sold decreased by 31kg to 1,289kg.
As a result of the increase in yield, cash operating costs per kilogram of gold sold decreased marginally from the
previous quarter to R689,426/kg. Cash operating costs per tonne of material increased from the previous quarter
to R170.3/t due to a decrease in the ore treated, the result of the reclamation of final remnant and clean up
material at sites as they near depletion at both operations.
All-in sustaining costs per kilogram were R790,471/kg, decreasing quarter on quarter mainly due to a decrease
in sustaining capital expenditure.
All-in costs per kilogram were R920,965/kg, increasing quarter on quarter mainly due to an increase in non-
sustaining capital expenditure, relating primarily to the development of the 20MW solar power plant.
Adjusted EBITDA increased by 54% from the previous quarter to R488.5 million primarily due to an increase in
Rand gold price received.
Cash and cash equivalents increased by R160.2 million to R2,552.4 million as at 31 March 2023
(31 December 2022: R2,392.2 million), notwithstanding the payment of the interim cash dividend of R172.1 million
for the six months ended 31 December 2022. External borrowings remained at Rnil as at 31 March 2023
(31 December 2022: 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 2023. Despite the remaining capital expenditure
planned for the current financial 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 2023.
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
8 May 2023
Sponsor
One Capital