DRDGOLD LTD — Interim / Quarterly Report 2021

Oct 25, 2021

6-K 1 operatingupdate2021.htm 6-K EDGAR HTML document created by Certent CDM HD version: 21.3.5 operatingupdate2021

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 2021

Commission File Number 0-28800 ____

DRDGOLD Limited

1 Sixty Jan Smuts Building, 2ndFloor-North Tower 160 Jan Smuts Avenue, Rosebank South Africa, 2196

(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☐No☑

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 September 2021, incorporated

by reference herein:

Exhibit

99.1 Release dated October 25, 2021, “OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2021”

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 25, 2021 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 2021

1. Operating Update

The operating update of the Company for the quarter ended 30 September 2021 is as follows:| | | Quarter | Quarter | |
| --- | --- | --- | --- | --- |
| | | 30 SEP 2021 | 30 JUN 2021 | % |
| Production | | | | |
| Gold produced | kg | 1,449 | 1,357 | 7% |
| | oz | 46,587 | 43,629 | 7% |
| Gold sold | kg | 1,428 | 1,365 | 5% |
| | oz | 45,912 | 43,886 | 5% |
| Ore milled | Metric (000't) | 7,421 | 7,506 | -1% |
| Yield | Metric (g/t) | 0.195 | 0.181 | 8% |

Price and costs
Average gold price received	R per kg	839,983	821,647	2%
	US$ per oz	1,786	1,810	-1%
Adjusted EBITDA *	Rm	350.8	303.1	16%
	US$m	24.0	21.5	12%
Cash operating costs	R/t	114	108	6%
	US$/t	8	8	-
Cash operating costs	R per kg	566,317	595,824	-5%
	US$ per oz	1,204	1,312	-8%
All-in sustaining costs **	R per kg	648,880	669,744	-3%
	US$ per oz	1,380	1,475	-6%
All-in costs **	R per kg	667,157	681,905	-2%
	US$ per oz	1,419	1,550	-8%

Capital expenditure
Sustaining	Rm	74.8	106.7	-30%
	US$m	5.1	7.6	-33%
Non-sustaining/growth	Rm	13.9	9.1	53%
	US$m	1	0.6	67%

Average R/US$ exchange rate14.6314.124%

Rounding of figures may result in computational discrepancies

• Adjusted 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 7% from the previous quarter to 1,449kg primarily due to an 8% increase in yield. Gold sold increased by 5% to 1,428kg.

Although increases in electricity and labour costs with effect from July 2021 resulted in higher cash operating costs, the increase in the number of gold units produced and sold resulted in a 5% decrease in cash operating costs per kilogram of gold sold to R566,317/kg. The cash operating cost per ton of material processed increased by 6% to R114/t.

All-in sustaining costs per kilogram and all-in costs per kilogram were R648,880/kg and R667,157/kg, respectively, decreasing quarter on quarter mainly due to a decrease in sustaining capital expenditure.

Adjusted EBITDA increased by 16% from the previous quarter to R350.8 million primarily due to a 5% increase in gold sold and a 2% increase in the average Rand gold price received.

Payment of the final dividend declared for the year ended 30 June 2021 of R345.2 million and negative working capital changes of R173.5 million at 30 September 2021 reduced cash and cash equivalents by R276.8 million to R1,903.2 million at 30 September 2021 (30 June 2021: 2,180 million). External borrowings remained at Rnil as at 30 September 2021 (30 June 2021: 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 2022. Despite the capital expenditure planned for the financial year, the Company remains in a favourable position to, in the absence of unforeseen events, consider declaring an interim cash dividend in or around February 2022.

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

25 October 2021

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