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MarketScreener Homepage  >  Equities  >  Nyse  >  DRDGOLD Limited    DRD

DRDGOLD LIMITED

(DRD)
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DRDGOLD : Operating update 9% increase in gold production for FY2020

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08/06/2020 | 10:27am EDT

DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD), in a production update released today, reports a 9% year-on-year increase in gold production to 5 424 kilograms (174 385 ounces) for the financial year ended 30 June 2020.

The increase is mainly attributable to a larger contribution from DRDGOLD's Far West Gold Recoveries operation.

The company had earlier provided production guidance of between 175 000 and 190 000 ounces. However, interruptions to its operations as a result of the national lockdown declared by the South African Government in response to the COVID-19 pandemic caused production to come in marginally below the estimated range.

Cash operating costs per kilogram are expected to be in line with the guidance provided of R490,000/kg.

DRDGOLD's cash and cash equivalents as at 30 June 2020 was R1 715.1 million after paying a cash dividend of R213.8 million in June 2020, and the company remains free of bank debt as at 30 June 2020.

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.

DRDGOLD expects to announce its full operating and financial results for FY2020 via SENS and the company's website, www.drdgold.com, at or around 08:00 South African time on Tuesday, 1 September 2020.

Contact:

Tel: +27 (0) 11 880 3924

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2021 364 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 1 053 M 1 053 M -
Capi. / Sales 2021 2,89x
EV / Sales 2022
Nbr of Employees -
Free-Float 54,1%
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 18,50 $
Last Close Price 12,31 $
Spread / Highest target 50,3%
Spread / Average Target 50,3%
Spread / Lowest Target 50,3%
Managers
NameTitle
Daniël Johannes Pretorius Chief Executive Officer, Executive Director & MD
Geoffrey Charles Campbell Independent Non-Executive Chairman
Adriaan Jacobus Davel Chief Financial Officer & Executive Director
Edmund Abel Jeneker Lead Independent Non-Executive Director
Johan Andries Holtzhausen Independent Non-Executive Director
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