DRDGOLD celebrates 130 years on JSE amidst favourable revenue
Revenue for the quarter increased by 4% due to a 10% increase in the average gold price to R1 685 760/kg.
The company owns Far West Rand Recoveries between Carletonville and Fochville and is also erecting a huge new tailings facility in the Fochville area.
Gold sold and produced decreased by 13% and 12% respectively, due to a 5% decrease in tonnage throughput and a 7% decrease in yield to 0.181g/t.
The company's tonnages decreased mainly due to unprecedented wet weather conditions, which inhibited access to certain sites and consequently impacted the desired blend of reclamation material. This also affected the average yield achieved, which reduced by 7% to 0.181g/t. Cash operating costs remained under control, decreasing to R1 044.2 million.
Cash and cash equivalents increased by R289.3 million to R950.5 million March 31, after paying an interim cash dividend of R258.7 million for the six months ended 31 December 2024. The cash generated during the current quarter will, inter alia, be applied towards the Company's extended capital expenditure programme. This coupled with the recent surge in the gold price and barring any unforeseen events, places the company in a favourable position to consider declaring a final dividend in August 2025.
DRDGOLD also reached the milestone of celebrating its 130th anniversary of uninterrupted listing on the JSE (Johannesburg Stock Exchange) on April 25.
'The idea of rolling back mining's environmental legacy aligns with the values of our people. Our people are not only working for the next month or year, but they are also working for the next generation and towards a better future. This is what sustainability is all about,' said its CEO, Niel Pretorius.
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