Johannesburg, South Africa — MININGREVIEW.COM — 20 December 2011 – DRDGOLD Limited “’ the world’s largest producer of gold from surface retreatment “’ has announced the pending transfer of the listing of its common stock from the NASDAQ Global Select Market (NASDAQ) to the New York Stock Exchange (NYSE).
A statement released by the company here said that following the transfer, it would retain its primary listing on the JSE Limited exchange. It expected to begin trading on the NYSE on 30 December 2011 under the new ticker symbol, DRD.
Until the transfer is complete, the company’s common stock will continue to trade under the symbol, DROOY, on NASDAQ.
DRDGOLD’s CEO Niël Pretorius said: “We are now close to completing our strategy-driven transition from an operator of both deep-level, underground gold mines and surface retreatment operations in South Africa, to an operator of lower-risk, lower-cost, higher-margin surface and near-surface gold recovery operations in South Africa and elsewhere in Africa. We look forward to the NYSE providing us with all of the support we need in furthering the US investor community’s appreciation of DRDGOLD as an attractive, gold-based value proposition,” he added.
“We welcome DRDGOLD’s decision to join NYSE Euronext’s growing community of listed companies and premier gold company listing franchise,” said Scott Cutler, EVP and head of listings, Americas, NYSE Euronext. “DRDGOLD is the world’s largest producer of gold from surface retreatment, and we look forward to being a valued partner in the company’s future growth by providing the highest quality markets and services.”
DRDGOLD Limited is a mid-tier, unhedged producer of gold. In 2011, the company has produced a total of 265,179oz, and declared attributable mineral resources of 60.2Moz and attributable mineral reserves of 7.3Moz