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
(
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
☑
☐
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
☐
☑
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
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 rate
14.95
15.60
-4%
Rounding of figures may result in computational discrepancies
* A
djusted 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
Sponsor
One Capital