6-K 1 operatingupdate2023q1.htm OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2022 operatingupdate2023q1
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
☑
 
Form 40-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
☐
 
No
☑
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
 
Name: Riaan Davel
 
Title: Chief Financial Officer
 
 
 
 
 
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