Johannesburg, South Africa. 25 October 2023. DRDGOLD Limited (JSE: DRD, A2X: DRD, NYSE: DRD) in an operational update for the quarter ended 30 September 2023, reports that gold production and gold sold increased to 1 284kg and 1 267kg, respectively from the previous quarter ended 30 June 2023. This is primarily due to a 13% increase in tonnage throughput.
Cash operating costs per kilogram increased to R825 630/kg from R780 054/kg in part due to Eskom’s winter tariffs and to higher municipal power rates. Cash operating costs per tonne of material decreased marginally by 2% to R190/t due to an increase in tonnage throughput.
All-in sustaining costs per kilogram was R951 008/kg, increasing quarter-on-quarter from R921 603/kg, mainly due to the increase in cash operating costs, and despite a decrease in sustaining capital expenditure. All-in costs per kilogram was R1 097 718/kg, decreasing quarter-on-quarter from R1 150 641/kg, mainly due to lower growth capital expenditure in comparison to the previous quarter.
Adjusted EBITDA decreased by 18% from the previous quarter to R365.8 million primarily due to an increase in cash operating costs.
Cash and cash equivalents decreased by R973.1 million to R1 498.3 million as at 30 September 2023 after paying the final cash dividend of R559.4 million for the year ended 30 June 2023.
Capital expenditure of R275.7 million and prepayments towards the development of the solar project of R321.3 million were also incurred in the first quarter of the financial year ending 30 June 2024.
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.
R&A Strategic Communications