Media releases DRDGOLD reports 4% quarter-on-quarter increase in gold production Details Published: Monday, 08 May 2023 08:45

Johannesburg, South Africa. 08 May 2023. DRDGOLD Limited (JSE: DRD, NYSE: DRD) in an operational update for the quarter ended 31 March 2023, reports that gold production increased by 4% from the previous quarter to 1 329kg. This is primarily due to yield being 0.03g/t higher. Gold sold decreased by 31kg to 1 289kg.

As a result of the increase in yield, cash operating costs per kilogram decreased marginally to R689 426/kg from R691 061/kg. Cash operating costs per tonne of material increased by 9% to R170/t due to a decrease in 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 was R790 471/kg, decreasing quarter-on-quarter (R844 697/kg) mainly due to a decrease in sustaining capital expenditure. All-in costs per kilogram was R920 965/kg, increasing quarter-on-quarter (R901 591/kg) mainly due to an increase in non-sustaining capital expenditure, relating 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 after paying the interim cash dividend of R172.1 million for the six months ended 31 December 2022.

Cash generated during the current quarter will, inter alia, be used for 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 consider declaring a final cash dividend in or around August 2023. The Company remains free of bank debt as at 31 March 2023 (31 December 2022: Rnil).

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.

Investor and media relations queries:
R&A Strategic Communications
Jane Kamau
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DRDGOLD Limited published this content on 08 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2023 07:00:01 UTC.