SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 6-K
REPORT OF A FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For October 2022
Commission File Number 0-28800
______________________
DRDGOLD Limited
Constantia Office Park
Cnr 14th Avenue and Hendrik Potgieter Road
Cycad House, Building 17, Ground Floor
Weltevreden Park 1709
(
Address of principal executive offices
)
______________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-
F or Form 40-
F.
Form 20-F
☑
☐
Indicate by check mark whether the registrant by furnishing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes
☐
☑
If ''Yes'' is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b): N/A
Attached to the Registrant Form 6-K filing for the month of October 2022, incorporated
by reference herein:
Exhibit
99.1 Release dated October 19, 2022, “OPERATING UPDATE FOR THE QUARTER ENDED 30
SEPTEMBER 2022”
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DRDGOLD LIMITED
Date: October 19, 2022 By: /s/ Riaan Davel
Exhibit 99.1
DRDGOLD LIMITED
(Incorporated in the Republic of South
Africa) (Registration number
1895/000926/06)
ISIN: ZAE000058723
JSE share code: DRD
NYSE trading symbol:
DRD
(“
DRDGOLD
” or the “
Company
”)
OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER
2022
The operating update of the Company for the quarter ended 30 September 2022 is as follows:
Quarter ended
Quarter ended
%
30 SEP 2022
30 JUN 2022
change
Production
Gold produced
kg
1,453
1,443
1%
oz
46,715
46,393
1%
Gold sold
kg
1,442
1,446
0%
oz
46,362
46,490
0%
Ore milled
Metric (000't)
7,157
7,064
1%
Yield
Metric (g/t)
0.203
0.204
0%
Price and costs
Average gold price received
R per kg
945,983
937,509
1%
US$ per oz
1,727
1,871
-8%
Adjusted EBITDA *
Rm
386.4
477.3
-19%
US$m
22.7
30.6
-26%
Cash operating costs
R/t
133.0
133.0
-
US$/t
8
9
-11%
Cash operating costs
R per kg
658,530
645,782
2%
US$ per oz
1,202
1,289
-7%
All-in sustaining costs **
R per kg
755,201
875,782
-14%
US$ per oz
1,378
1,748
-21%
All-in costs **
R per kg
796,255
871,162
-9%
US$ per oz
1,453
1,739
-16%
Capital expenditure
Sustaining
Rm
101.2
314.8
-68%
US$m
5.9
20.2
-71%
Non-sustaining/growth
Rm
53.6
16.8
219%
US$m
3.1
1.1
182%
Average R/US$ exchange rate
17.04
15.58
9%
Rounding of figures may result in computational discrepancies
* A
djusted earnings before interest, taxes, depreciation and amortisation ("
Adjusted EBITDA
") may not be comparable to
similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under International Financial
Reporting Standards (IFRS) and should be considered in addition to, and not as a substitute for, other measures of financial
performance and liquidity.
**
All-in cost definitions based on the guidance note on non-GAAP Metrics issued by the World Gold Council on 27 June 2013
.
Gold production increased by 1% from the previous quarter to 1,453kg primarily due to a 1% increase in
tonnage throughput despite yield being 0.001g/t lower at 0.203g/t. Gold sold decreased by 4kg to 1,442kg.
As a result of the above, the cash operating costs per kilogram of gold sold increased marginally from the
previous quarter to R658,530/kg. The cash operating costs per tonne of material remained stable from the
previous quarter at R133/t.
All-in sustaining costs per kilogram and all-in costs per kilogram were R755,201/kg and R796,255/kg,
respectively, decreasing quarter on quarter mainly due to a decrease in sustaining capital expenditure in
comparison to the previous quarter.
Adjusted EBITDA decreased by 19% from the previous quarter to R386.4 million primarily due to an
insurance claim of R84.7 million recognised in the previous quarter.
Cash and cash equivalents decreased by R280.5 million to R2,245.1 million as at 30 September 2022 (30
June 2022: R2,525.6 million) after paying the final cash dividend of R342.5 million for the year ended 30
June 2022.
The cash generated during the current quarter will,
inter alia
, be applied towards the Company’s extended
capital expenditure programme for the year ending 30 June 2023.
Despite the capital expenditure planned for the current financial year, the Company remains in a favourable
position to, in the absence of unforeseen events, consider declaring an interim cash dividend in or around
February 2023.
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.
Johannesb
urg 19
October
2022
Spons
or One
Capital