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DRDGOLD releases gold production update

Published by
Global Mining Review,


DRDGOLD Limited has reported a 1% quarter-on-quarter increase in gold production to 1453 kg, due primarily to a 1% increase in tonnage throughput, in an operational update for 3Q22.

Gold sold decreased by 4 kg to 1442 kg.

As a result, cash operating costs per kg increased 2% from 2Q22 to R658 530/kg. Cash operating costs per t of material processed remained stable at R133/t.

All-in sustaining costs per kg were R755 201/kg, decreasing 14% quarter-on-quarter mainly due to a 68% decrease in sustaining capital expenditure. All-in costs per kilogram were R796 255/kg, decreasing 9% quarter-on-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 after paying the final cash dividend of R342.5 million for the year ended 30 June 2022.

The cash generated during 4Q22 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 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.

Read the article online at: https://www.globalminingreview.com/mining/19102022/drdgold-releases-gold-production-update/

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