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DRD DRDGold

Filed: 5 May 21, 8:47am
 
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
 
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