DRDGOLD LTD — Interim / Quarterly Report 2022

Oct 19, 2022

6-K 1 operatingupdate2023q1.htm OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2022 EDGAR HTML document created by Certent CDM HD version: 22.2.0 operatingupdate2023q1

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 2022

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☑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 October 2022, incorporated

by reference herein:

Exhibit

99.1 Release dated October 19, 2022, “OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2022”

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 19, 2022 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

2022

The operating update of the Company for the quarter ended 30 September 2022 is as follows:| | | Quarter ended | Quarter ended | | % |
| --- | --- | --- | --- | --- | --- |
| | | 30 SEP 2022 | | 30 JUN 2022 | change |
| Production | | | | | |
| Gold produced | kg | | 1,453 | 1,443 | 1% |
| | oz | 46,715 | | 46,393 | 1% |
| Gold sold | kg | | 1,442 | 1,446 | 0% |
| | oz | 46,362 | | 46,490 | 0% |
| Ore milled | Metric (000't) | | 7,157 | 7,064 | 1% |
| Yield | Metric (g/t) | | 0.203 | 0.204 | 0% |

Price and costs
Average gold price received	R per kg	945,983	937,509	1%
	US$ per oz	1,727	1,871	-8%
Adjusted EBITDA *	Rm	386.4	477.3	-19%
	US$m	22.7	30.6	-26%
Cash operating costs	R/t	133.0	133.0	-
	US$/t	8	9	-11%
Cash operating costs	R per kg	658,530	645,782	2%
	US$ per oz	1,202	1,289	-7%
All-in sustaining costs **	R per kg	755,201	875,782	-14%
	US$ per oz	1,378	1,748	-21%
All-in costs **	R per kg	796,255	871,162	-9%
	US$ per oz	1,453	1,739	-16%

Capital expenditure
Sustaining	Rm	101.2	314.8	-68%
	US$m	5.9	20.2	-71%
Non-sustaining/growth	Rm	53.6	16.8	219%
	US$m	3.1	1.1	182%

Average R/US$ exchange rate17.0415.589%

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 1% from the previous quarter to 1,453kg primarily due to a 1% increase in tonnage throughput despite yield being 0.001g/t lower at 0.203g/t. Gold sold decreased by 4kg to 1,442kg.

As a result of the above, the cash operating costs per kilogram of gold sold increased marginally from the previous quarter to R658,530/kg. The cash operating costs per tonne of material remained stable from the previous quarter at R133/t.

All-in sustaining costs per kilogram and all-in costs per kilogram were R755,201/kg and R796,255/kg, respectively, decreasing quarter on quarter mainly due to a decrease in sustaining capital expenditure in comparison to the previous quarter.

Adjusted EBITDA decreased by 19% from the previous quarter to R386.4 million primarily due to an insurance claim of R84.7 million recognised in the previous quarter.

Cash and cash equivalents decreased by R280.5 million to R2,245.1 million as at 30 September 2022 (30 June 2022: R2,525.6 million) after paying the final cash dividend of R342.5 million for the year ended 30 June 2022.

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 2023.

Despite the capital expenditure planned for the current 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 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.

Johannesb urg 19 October 2022

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