Johannesburg, South Africa. 6 February 2017. DRDGOLD Limited (JSE,NYSE: DRD) is in the process of finalising its results for the six months ended 31 December 2016 and shareholders are accordingly advised that the Company expects to report:
In a production update for the second quarter ended 31 December 2016 released today, DRDGOLD reported:
As communicated previously, the final clean-up and closure of specific Crown sites continued to weigh on costs, causing both accelerated depreciation and retrenchment costs of approximately R18 million each.
After paying a final dividend of R52 million for the year ended 30 June 2016, the Company ended the second quarter of FY2017 with R290 million in cash and cash equivalents, compared with R335 million at the end of the first quarter of FY2017. The cash position was also influenced by an increase in working capital of R 70.5 million for the six months ended 31 December 2016.
Gold production for the year ending 30 June 2017 is expected to be between 136 000 and 140 000 ounces at cash operating costs of between R468 000 per kilogram and R482 000 per kilogram.
The above information has not been reviewed or reported on by the Company’s auditors. The Company’s Results are expected to be published on or about 15 February 2017.
Russell and Associates
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Investor and Media Relations
Phil Dexter, St James’s Corporate Services
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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 sustained strengthening of the Rand against the Dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licenses 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 2016, which we filed with the United States Securities and Exchange Commission on 31 October 2016 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 after the date of this report or to the occurrence of unanticipated events. Any forward-looking statements included in this release have not been reviewed and reported on by DRDGOLD’s auditors.