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 February 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
☑
☐
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 February 2022, incorporated
by reference herein:
Exhibit
99.1 Release dated February 3, 2022, “TRADING STATEMENT FOR THE SIX MONTHS ENDED
31 DECEMBER 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: February 3, 2022 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
” or the “
Group
”)
TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2021
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a
trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results
for the current reporting period will differ by at least 20% from the financial results of the previous corresponding
period.
DRDGOLD is in the process of finalising its results for the six months ended 31 December 2021 (“
Current
Reporting Period
”) and shareholders are accordingly advised that the Company has reasonable certainty that
it will report earnings per share (“
EPS
”) and headline earnings per share (“
HEPS
”) of between 52.5 cents and
63.6 cents compared to EPS and HEPS of
111
cents for the six months ended 31 December 2020 (“
Previous
Corresponding Period
”), being a decrease of between 43% and 53%, respectively.
The expected decrease in EPS and HEPS for the Current Reporting Period compared to the Previous
Corresponding Period is due mainly to movements in,
inter alia
, the following items:
1. Revenue
Revenue decreased by R478.9 million, or 16%, to R2,498.5 million (2020: R2,977.4 million).
Ergo Mining Proprietary Limited’s (“
Ergo
”) revenue decreased by R464.1 million, or 20%, to R1,804.6
million (2020: R2,268.7 million), due mainly to a 13% decrease in the Rand gold price received as well
as a 9% decrease in gold sold to 2,090Kg (2020: 2,296Kg). Volume throughput increased by 1%. Yield
decreased by 9% to 0.184g/t (2020: 0.202g/t) as a result of the bulk of the higher-grade reserves in the
Knights area reaching the end of life of mine.
Far West Gold Recoveries Proprietary Limited’s (“
FWGR
”) revenue decreased by R14.9 million, or 2%,
to R693.8 million (2020: R708.7 million) despite a 13% increase in gold sold to 801Kg (2020: 710Kg),
due to a 13% decrease in the Rand gold price received. Volume throughput remained stable. Yield
increased by 11% to 0.257g/t (2020: 0.232g/t) due to higher-grade material being reclaimed from
Driefontein 5 and improved gold bullion purities resulting from the implementation of the copper elution
circuit.
2. Cash Operating Costs
Cash operating costs increased by R161.4 million, or 11%, to R1,680.2 million (2020: R1,518.8 million).
At Ergo, cash operating costs increased by R154.9 million, or 12%, to R1,471.8 million (2020: R1,316.9
million) due to the 1% increase in volume throughput, an increase in the use of reagents as a result of
the increase in volume throughput together with a change in the minerology of new mining sites, and
above CPI increases in steel and reagents.
At FWGR, cash operating costs increased by R6.5 million, or 3%, to R208.4 million (2020: R201.9
million).
3. Liquidity
As at 31 December 2021, DRDGOLD’s cash and cash equivalents was R2,239.1 million (30 June 2021:
R2,180.0 million), with a revolving credit facility with ABSA Bank Limited of R200 million, available if
needed. During the interim period ended 31 December 2021, DRDGOLD generated free cash flow (cash
inflow from operating activities less cash outflow from investing activities) of R406.9 million (2020: R759.6
million) and paid cash dividends of R345.5 million (2020: R299.1 million). The Group remains free of any
bank debt as at 31 December 2021 (30 June 2021: Rnil).
The financial information contained in this announcement is the responsibility of the directors of DRDGOLD, and
such information has not been reviewed or reported on by the Company’s auditors.
The condensed consolidated interim results for the six months ended 31 December 2021 are expected to be
published on or about 16 February 2022.
Johannesburg
3 February 2022
Sponsor
One Capital