DRDGOLD LTD — Interim / Quarterly Report 2022

May 4, 2022

6-K 1 operatingupdate2022q3.htm OPERATING UPDATE FOR THE QUARTER ENDED 31 MARCH 2022 EDGAR HTML document created by Certent CDM HD version: 21.3.5 operatingupdate2022q3

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 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 May 2022, incorporated

by reference herein:

Exhibit

99.1 Release dated May 04, 2022, “OPERATING UPDATE FOR THE QUARTER ENDED 31 MARCH 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: May 04, 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 31 MARCH 2022

The operating update of the Company for the quarter ended 31 March 2022 is as follows:| | | Quarter | Quarter | |
| --- | --- | --- | --- | --- |
| | | 31 MAR 2022 | 31 DEC 2021 | % Change |
| Production | | | | |
| Gold produced | kg | 1,391 | 1,437 | (3%) |
| | oz | 44,722 | 46,201 | (3%) |
| Gold sold | kg | 1,377 | 1,463 | (6%) |
| | oz | 44,272 | 47,037 | (6%) |
| Ore milled | Metric (000't) | 6,659 | 7,045 | (5%) |
| Yield | Metric (g/t) | 0.209 | 0.204 | 2% |

Price and costs
Average gold price received	R per kg	914,864	885,681	3%
	US$ per oz	1,871	1,785	5%
Adjusted EBITDA *	Rm	367.3	380.0	(3%)
	US$m	24.1	24.6	(2%)
Cash operating costs	R/t	127	118	8%
	US$/t	8.3	7.6	9%
Cash operating costs	R per kg	605,011	586,330	3%
	US$ per oz	1,237	1,182	5%
All-in sustaining costs **	R per kg	677,996	681,887	(1%)
	US$ per oz	1,387	1,375	(1%)
All-in costs **	R per kg	735,948	709,706	4%
	US$ per oz	1,505	1,431	5%

Capital expenditure
Sustaining	Rm	36.6	70.2	(48%)
	US$m	2.4	4.5	(47%)
Non-sustaining/growth	Rm	67.0	23.6	184%
	US$m	4.4	1.5	193%

Average R/US$ exchange rate15.2115.43(1%)

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 3% from the previous quarter to 1,391kg primarily due to a 5% decrease in tonnage throughput, despite a 2% increase in yield. Gold sold decreased by 6% to 1,377kg.

As a result of the above, the cash operating costs per kilogram of gold sold increased by 3% from the previous quarter to R605,011/kg. The cash operating costs per ton of material processed increased by 8% to R127/t.

All-in sustaining costs per kilogram was R677,996/kg, decreasing quarter on quarter mainly due to a decrease in sustaining capital expenditure . All-in costs per kilogram was R735,948/kg, increasing quarter on quarter mainly due to increased non-sustaining capital expenditure.

Adjusted EBITDA decreased by 3% from the previous quarter to R367.3 million primarily due to a 6% decrease in gold sold, which was in part offset by a 3% increase in the average Rand gold price received to R914,864/kg .

Cash and cash equivalents increased by R70.4 million to R2,309.5 million as at 31 March 2022 (31 December 2021: R2,239.1 million) after paying the interim cash dividend of R167.8 million for the six months ended 31 December 2021. External borrowings remained at Rnil as at 31 March 2022 (31 December 2021: Rnil).

The Company remains in a favourable position to, in the absence of unforeseen events, consider declaring a final cash dividend in or around August 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 4 May 2022

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