Johannesburg, South Africa. 25 November 2007. DRDGOLD Limited (JSE: DRD; NASDAQ: DRO0Y) announced tonight that South African power utility Eskom has limited power supply at the company’s Blyvooruitzicht and ERPM operations to cover emergency maintenance services only.
Consequently, production from underground at both operations has been suspended.
DRDGOLD has asked Eskom to indicate when normal supply will resume, and will release updating information as and when this becomes available.
Earlier today, DRDGOLD said that its Blyvooruitzicht operation had been in a voluntary load-shifting arrangement with Eskom since April 2007. In addition, mine management had agreed to further load-shifting arrangements on Monday, 21 January 2008 to shave a further 10% off the mine’s daily consumption.
As a result, the impact of load-shedding on the operation had been negligible and shifts were proceeding normally.
At the company’s ERPM operation, voluntary ad-hoc load-shifting had occurred in consultation with Eskom, which had had a negligible impact.
One of the surface circuits of the company’s Crown Gold Recoveries surface retreatment operation was being affected by daily interruptions of approximately four hours each, out of a continuous 24-hour cycle.
James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)
Investor and Media Relations
Barbara Cano, Breakstone Group International
+1 646 452 2334 (office)
Investor and Media Relations
Phil Dexter, St James's Corporate Services
+44 20 7499 3916 (office)
+44 779 863 4398 (mobile)
For more information, please visit www.drdgold.com
Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a continuing strengthening of the rand against the dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licences or other governmental approvals, changes in DRDGOLD’s competitive position, changes in business strategy, any major disruption in production at key facilities or adverse changes in foreign exchange rates and various other factors.
These risks include, without limitation, those described in the section entitled "Risk Factors" included in our annual report for the fiscal year ended 30 June 2007, which we filed with the United States Securities and Exchange Commission on 14 December 2007 on Form 20-F. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances.