HomeBusiness and policyIncreased gold production to raise earnings for DRDGOLD

Increased gold production to raise earnings for DRDGOLD

JSE and NYSE-listed DRDGold says it expects to report headline earnings of between 1.53 and 1.87 cents per share for the financial year ended 30 June 2018.

This compares with 0.2 cents per share for FY2017.

The expected increase is due primarily to a 10% increase in gold production, from 4 265 kg to 4 679 kg.

Higher gold production also resulted in a decrease in cash operating costs of around 6%, from R489 549/kg to around R459 000/kg, and in all-in sustaining costs of around 5%, from R530 930/kg to R506 000/kg.

Headline earnings include transaction costs of R9 million relating to the acquisition from Sibanye-Stillwater of the West Rand Tailings Retreatment Project assets.

The above information has not been reviewed or reported on by the DRDGold’s auditors.

DRDGold’s results are expected to be published on or about 5 September 2018.