DRDGOLD LTD — Interim / Quarterly Report 2021

May 5, 2021

6-K 1 operatingupdate.htm 6-K EDGAR HTML document created by Certent CDM HD version: 20.6.1 operatingupdate

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 May 2021

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☐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 May 2021, incorporated by reference

herein:

Exhibit

99.1 Release dated May 5, 2021, “OPERATING UPDATE FOR THE QUARTER ENDED 31 MARCH 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: May 5, 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 31 MARCH 2021

The operating update of the Company for the quarter ended 31 March 2021 is as follows:| | | Quarter ended | Quarter ended | | |
| --- | --- | --- | --- | --- | --- |
| | | 31 MAR 2021 | | 31 DEC 2020 | % change |
| Production | | | | | |
| Gold produced | kg | | 1,382 | 1,470 | -6% |
| | oz | 44,433 | | 47,262 | -6% |
| Gold sold | kg | | 1,363 | 1,484 | -8% |
| | oz | 43,822 | | 47,712 | -8% |
| Ore milled | Metric (000't) | | 7,272 | 7,073 | 3% |
| Yield | Metric (g/t) | | 0.190 | 0.208 | -9% |

Price and costs
Average gold price received	R per kg	857,895	947,056	-9%
	US$ per oz	1,785	1,888	-5%
Adjusted EBITDA *	Rm	371.7	571.0	-35%
	US$m	25.7	37.0	-31%
Cash operating costs	R/t	102	108	-6%
	US$/t	7	7	-
Cash operating costs	R per kg	549,817	532,480	3%
	US$ per oz	1,144	1,062	8%
All-in sustaining costs **	R per kg	645,488	607,210	6%
	US$ per oz	1,343	1,211	11%
All-in costs **	R per kg	654,072	628,571	4%
	US$ per oz	1,361	1,253	9%

Capital expenditure
Sustaining	Rm	77.8	68.4	14%
	US$m	5.2	4.4	18%
Non-sustaining/growth	Rm	-	13.3	-100%
	US$m	-	0.9	-100%

Average R/US$ exchange rate14.9515.60-4%

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 decreased by 6% from the previous quarter to 1,382kg primarily due to a 9% decrease in yield despite a 3% increase in tonnage throughput. Gold sold decreased by 8%.

As a result of the above, the cash operating costs per kilogram of gold sold increased by 3% from the previous quarter to R549,817/kg. The cash operating costs per ton of material processed decreased by 6% to R102/t.

All-in sustaining costs per kilogram and all-in costs per kilogram were R645,488/kg and R654,072/kg, respectively, increasing quarter on quarter mainly due to an increase in sustaining capital expenditure.

Adjusted EBITDA decreased by 35% from the previous quarter to R371.7 million primarily due to an 8% decrease in gold sold and a 9% decrease in the average Rand gold price received of R857,895/kg.

Cash and cash equivalents decreased by R3.7 million to R2,165.7 million as at 31 March 2021 (31 December 2020: R2,169.4 million) after paying the interim cash dividend of R341.8 million for the six months ended 31 December 2020. External borrowings remained at Rnil as at 31 March 2021 (31 December 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 2021. Despite the capital expenditure planned for the 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 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 5 May 2021

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