Gold production increased by
4% from the previous
quarter to 1,329kg primarily
due to yield being
0.03g/t higher
at 0.255g/t, and despite an 8% decrease in ore treated.
Gold sold decreased by 31kg to 1,289kg.
As a result of the increase in
yield, cash operating costs per kilogram
of gold sold decreased marginally from
the
previous quarter to
R689,426/kg. Cash operating
costs per tonne
of material increased
from the previous
quarter
to
R170.3/t
due
to
a
decrease in
the
ore
treated,
the
result
of
the
reclamation of
final
remnant
and
clean
up
material at sites as they near depletion at both operations.
All-in sustaining costs per kilogram were
R790,471/kg,
decreasing quarter on quarter mainly due
to a decrease
in sustaining capital expenditure.
All-in
costs
per
kilogram
were
R920,965/kg,
increasing
quarter
on
quarter
mainly
due
to
an
increase
in
non-
sustaining capital expenditure, relating primarily to the development of the 20MW solar power plant.
Adjusted EBITDA increased by
54% from the previous
quarter to R488.5 million primarily
due to an increase
in
Rand gold price received.
Cash
and
cash
equivalents
increased
by
R160.2
million
to
R2,552.4
million
as
at
31
March
2023
(31 December
2022: R2,392.2
million), notwithstanding
the payment
of the
interim cash
dividend of
R172.1 million
for
the
six
months
ended
31
December
2022.
External
borrowings
remained
at
Rnil
as
at
31
March
2023
(31 December 2022: Rnil).
The cash generated
during the current
quarter will,
inter alia
, be applied
towards the Company’s
extended capital
expenditure programme for
the financial
year ending
30 June
2023. Despite
the remaining
capital expenditure
planned
for
the
current
financial
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 2023.
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
8 May 2023
Sponsor
One Capital