Page 1

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 February 2009

Commission File Number 0-28800

______________________

DRDGOLD Limited

EBSCO House 4

299 Pendoring Avenue

Blackheath

Randburg, South Africa, 2195

(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

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 February 2009, incorporated
by reference herein:

Exhibit

99.1 Release dated February 6, 2009, entitled “INTERIM REPORT TO SHAREHOLDERS FOR
THE QUARTER AND SIX MONTHS ENDED 31 DECEMBER 2008”.

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: February 6, 2009

By: /s/ Themba Gwebu

Name: Themba Gwebu

Title: Company Secretary

KEY FEATURES

• 65% increase in operating profit

• 30% rise in headline earnings per share

• 2% drop in cash operating costs

• Acquisition of remaining 35% in Elsburg JV (Ergo Phase 1)

• ERPM underground operations suspended

REVIEW OF OPERATIONS

Quarter

Quarter

Quarter 6 months to

6 months to

Group

Dec 2008

Sep 2008

Change

Dec 2007 31 Dec 2008

30 Jun 2008 31 Dec 2007

Gold production

Continuing operations

60 057

70 861

(15)

77 259

130 918

141 589

166 416

1 868

2 204

(15)

2 403

4 072

4 404

5 176

Discontinued operations

–

3 394

–

13 427

–

106

–

417

Group

60 057

70 861

(15)

80 653

130 918

141 589

179 843

1 868

2 204

(15)

2 509

4 072

4 404

5 593

Cash operating costs

Continuing operations

US$ per oz

654

755 13

703

709

678 639

ZAR per kg

217 839

188 967

(15)

153 690

202 212

167 950

142 966

Discontinued operations US$ per oz

–

1 336

–

1 098

ZAR per kg

–

281 613

–

245 885

Group

US$ per oz

654

755 13

730

709

678 673

ZAR per kg

217 839

188 967

(15)

159 094

202 212

167 950

150 639

Gold price received

US$ per oz

769

864 (11)

797

821

918 739

ZAR per kg

255 213

216 297

173 606

234 150

225 696

165 254

Capital expenditure

US$ million

9.2

9.1 (1)

6.7

18.3

24.7 11.8

ZAR million

91.8

70.2 (31)

45.3

162.0

185.4 81.8

INTERIM REPORT TO SHAREHOLDERS

FOR THE QUARTER AND SIX MONTHS ENDED

31 December 2008

(Incorporated in the Republic of South Africa)
Registration No. 1895/000926/06
JSE share code: DRD • ISIN: ZAE 000058723
Issuer code: DUSM • NASDAQ trading symbol: DROO
(“DRDGOLD” or “the company”)

GROUP RESULTS

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

Issued capital
376 673 613 ordinary no par value shares
5 000 000 cumulative preference shares
Total ordinary no par value shares issued and committed: 395 709 532

Stock traded

JSE

NASDAQ

Average volume for the quarter per day ('000)

1 185

1 700

% of issued stock traded (annualised)

118

Price • High

R6.00

$0.595

• Low

R2.86

$0.285

• Close

R5.50

$0.557

FORWARD LOOKING STATEMENTS
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 continuing strengthening of the Rand against the
Dollar, regulatory developments adverse to DRDGOLD or difficulties in
maintaining necessary licences 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 2008, which we filed with the United States Securities and
Exchange Commission on 12 December 2008 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.

OVERVIEW
Dear shareholder

Safety, health and environment
I report with deep regret the death of one employee in a work-related
incident during the quarter under review. Annanias Timbe died from
injuries sustained when he fell into the measuring flask of a loading box
underground at the No 6 Shaft of Blyvooruitzicht Gold Mining Company
Limited (“Blyvoor”) on 10 October 2008.

Notwithstanding this sad event, Blyvoor's performance in respect of all
of the key safety indicators (per million man hours) showed
improvement in the quarter: the Dressing Station Injury Frequency Rate
(“DSIFR”) improved from 35.33 to 28.64, the Disabling Injury Frequency
Rate (“DIFR”) from 10.71 to 9.73, the Reportable Injury Frequency Rate
(“RIFR”) from 5.09 to 4.05, and the Fatal Injury Frequency Rate (“FIFR”)
from 0.54 to 0.27.

During the quarter, Blyvoor spent R6.7 million on the purchase of
additional self-contained self-rescuers and R0.6 million on the expansion
of its underground seismic monitoring networks.

As one would expect, East Rand Proprietary Mines Limited (“ERPM”) –
the underground operations of which were suspended at the end of
October 2008 – showed substantial improvement in respect of all of the
key safety indicators.

Crown Gold Recoveries (Pty) Limited (“Crown”) recorded
deterioration only in respect of its RIFR: from 2.28 to 2.84.

The behaviour-based safety initiative reported on in previous quarters
was taken forward during the quarter under review. A pilot behaviour-
based safety programme is scheduled to be implemented at Blyvoor's
No 6 Shaft during March 2009 and then rolled out to the rest of
DRDGOLD's operations.

With respect to health matters, we continued to make progress in the
areas of occupational hygiene, noise abatement and radiation protection.

Total expenditure on environmental issues during the quarter was some
R7.2 million: R2.4 million at Blyvoor, the largest portion of which
(R1.3 million) was for slimes clean-up; R0.8 million at ERPM, most of
which (R0.6 million) was directed to the rehabilitation trust fund; and
R4.0 million at Crown, most of which was spent on site rehabilitation.

Production
Total gold production was 15% lower for the quarter under review at
60 057 oz, reflecting declines in production at ERPM (a consequence of
the discontinuation of underground mining) and at Crown. At the latter,
this was as a result both of continued overall throughput reduction in
order to manage diminishing tailings deposition capacity and later than
planned commissioning of the Top Star reclamation site. Blyvoor,
however, reported a 4% increase in production, due mainly to an
increase in surface yield.

Financial
Total revenue for the quarter was unchanged at R476.8 million and after
accounting for cash operating costs, which were 2.0% lower at
R406.9 million, and gold in process of R24.4 million, operating profit was
65% higher at R94.3 million.

After deduction of depreciation of R17.1 million, provision for
environmental rehabilitation of R9.0 million, and retrenchment costs of
R34.4 million, gross profit from operating activities was R33.8 million.

Adjustments for financial liabilities measured at amortised cost, of
R39.8 million, profit on the sale of assets and investments of
R10.2 million and finance income of R25.7 million took profit before tax
to R63.0 million.

Taxation totalled R29.6 million, leaving a net profit of R33.4 million
compared with the previous quarter's R8.8 million net loss.

Corporate
As a consequence of the decision taken during the previous quarter to
suspend the underground operations of ERPM, we embarked on a 60-
day consultation process in terms of Section 189A of the Labour
Relations Act. This process affected 1 700 employees and their
representatives. We concluded consultations during January 2009 and
proceeded to retrench some 1 300 employees. Approximately
109 employees took voluntary retrenchment packages, and 251 took
transfers to other DRDGOLD operations or were retained to provide
interim maintenance services at ERPM. We have received several offers
for ERPM’s underground operations and have decided not to accept any
of them.

During the quarter, we announced that we had reached agreement with
the Mintails group to acquire the remaining 35% of the Elsburg Gold
Mining Joint Venture (“Elsburg JV”), the gold component of Ergo Mining
(Pty) Limited (“Ergo JV”). Conclusion of this acquisition will result in us
owning 100% of the Elsburg JV.

We are very pleased with the progress achieved on Phase 1 of the
Ergo JV. Commissioning of the first carbon in leach circuit at the
Brakpan plant began on schedule during the December quarter and

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

the project is thus well placed to achieve the 600 000 tpm throughput
planned by April 2009. None of our key operating assumptions has to
date proven flawed.

A very pleasing adjunct to the Ergo project is the creation – in
conjunction with the Ekurhuleni Municipality – of the Ekurhuleni
Business Development Academy (“EDBA”). With the Ergo Training
Centre as a foundation, a fully accredited, self-sustaining learning
institution is being created which will be of benefit to people from the
surrounding communities and beyond. The intention is to provide
training in the fields of engineering, metallurgy, mining and business
support services. Good progress has been made on refurbishment of
the premises and the first training modules are expected to begin during
February 2009.

Changes to the board

With effect from 1 January 2009, I assumed the role of Chief Executive
Officer (“CEO”) of DRDGOLD, succeeding John Sayers who retired
from the board with effect from 31 December 2008.

The board is grateful to John for the contribution he made during a very
challenging period. His strategy of stabilisation and focus transformed
the company into the profitable, South African gold miner that it is today.
He was instrumental in the divestment of our Australasian assets which,
along with the restructuring of our South African assets, has put the
company in excellent financial health. He will continue in a consultancy
role, with special focus on growth, so that the company can continue to
benefit from his expertise and experience.

Professor Douglas Blackmur’s appointment to the board of directors
ceased on 28 November 2008, after a resolution relating to his
re-election was withdrawn at the annual general meeting.

Looking ahead
There appears to be even less certainty as to when the global economic
crisis will start to subside. In fact, fears of inflation and currency volatility
seem to be on the increase. These uncertain times may continue to
provide the “safe haven” attraction of gold, and support the gold price
at its current high levels.

Our Ergo surface retreatment project is coming to fruition now and
should therefore benefit from the higher gold price.We are also pleased
that the Top Star Project is finally up and running, to take advantage of
the current gold price trend.

With the global liquidity squeeze, we will remain cautious of long lead
capital projects, and avoid projects that we cannot fully cover with the
cash and facilities we have at hand. Our focus will therefore remain on
increasing efficiencies, managing risks, controlling costs carefully, and
taking a very disciplined approach to growth.

Niel Pretorius
Chief Executive Officer

6 February 2009

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter

Quarter

Quarter 6 months to

6 months to

Dec 2008

Sep 2008

Dec 2007 31 Dec 2008

30 Jun 2008

31 Dec 2007

Unaudited

Unaudited

Unaudited

Unaudited

Continuing operations
Gold and silver revenue

476.8

476.7 416.9 953.5

994.0 849.9

Net operating costs

(382.5)

(419.5)

(368.0)

(802.0)

(725.0)

(739.3)

Cash operating costs

(406.9)

(416.5)

(369.3)

(823.4)

(739.6)

(740.0)

Movement in gold in process

24.4

(3.0)

1.3

21.4

14.6 0.7

Operating profit

94.3

57.2 48.9

151.5

269.0 110.6

Depreciation

(17.1)

(17.0)

(19.9)

(34.1)

(29.4)

(39.6)

Movement in provision for environmental
rehabilitation

(9.0)

(12.1)

(4.8)

(21.1)

(20.7)

(9.5)

Retrenchment costs

(34.4)

(0.9)

(5.1)

(35.3)

(5.1)

(6.2)

Gross profit from operating activities

33.8

27.2 19.1 61.0

213.8 55.3

Impairments

(4.8)

(47.6)

–

(52.4)

(63.9)

–

Administration expenses and general costs

(32.4)

(6.1)

(17.7)

(38.5)

(40.4)

(40.5)

Share-based payments

(3.1)

(1.1)

(0.9)

(4.2)

(6.2)

(0.4)

Care and maintenance costs

(3.1)

(2.8)

(5.9)

(9.9)

(5.3)

Financial liabilities measured at amortised cost

39.8

7.3 (0.8)

47.1

(88.5)

(0.8)

Profit/(loss) on sale of assets and investments

10.2

(1.6)

–

8.6

(0.9)

12.0

Finance income

25.7

32.9 15.4 58.6

62.6 13.1

Finance expenses and unwinding of provisions

(3.1)

(2.7)

(4.8)

(5.8)

(0.7)

(13.2)

Profit before taxation

63.0

5.5 7.5

68.5

65.9 20.2

Income tax

(8.6)

(15.6)

(3.5)

(24.2)

(9.8)

(3.5)

Deferred tax

(21.0)

1.3 –

(19.7)

81.6 –

Profit/(loss) after taxation

33.4

(8.8)

4.0

24.6

137.7 16.7

Discontinued operations
Profit/(loss) for the period from discontinued
operations

–

6.6

–

(1.8)

(50.0)

Profit on sale of assets and investments

–

118.3

–

42.9 1

126.3

Impairment from discontinued operations

–

(44.4)

–

(2.3)

(44.4)

Net profit/(loss) for the period

33.4

(8.8)

84.5

24.6

176.5 1

048.6

Attributable to:

Ordinary shareholders of the company

54.7

3.1 93.2 57.8

144.6 850.3

Minority interest

(21.3)

(11.9)

(8.7)

(33.2)

31.9 198.3

33.4

(8.8)

84.5

24.6

176.5 1 048.6

Other comprehensive income
Foreign exchange translation

7.8

(19.5)

(54.9)

(11.7)

20.9 62.7

Mark-to-market of available-for-sale investments

–

1.7 –

Total comprehensive income/(loss) for
the period

41.2

(28.3)

29.6

12.9

199.1 1 111.3

Attributable to:

Ordinary shareholders of the company

62.5

(16.4)

38.3

46.1

167.2 913.0

Minority interest

(21.3)

(11.9)

(8.7)

(33.2)

31.9 198.3

41.2

(28.3)

29.6

12.9

199.1 1 111.3

Reconciliation of headline profit/(loss)
Net profit

54.7

3.1 93.2 57.8

144.6 850.3

Adjusted for:
– Impairments

4.8

47.6 –

52.4

63.9 –

– Impairment from discontinued operation

–

44.4

–

2.3 44.4

– Profit on sale of discontinued operations

–

(118.3)

–

(42.9)

(1 126.3)

– (Profit)/loss on sale of assets and investments

(9.8)

1.2 –

(8.6)

(9.2)

(12.0)

– Minority share of headline earnings adjustment

1.4

(12.4)

(10.1)

(11.0)

(5.1)

208.9

Headline profit/(loss)

51.1

39.5 9.2

90.6

153.6 (34.7)

Headline profit/(loss) per share – cents

13.6

10.5 2.4

24.1

40.8 (9.2)

Basic profit per share – cents

14.5

0.8 24.8 15.3

38.4 226.3

Diluted headline profit/(loss) per share – cents

13.6

10.5 2.4

24.1

40.8 (9.2)

Diluted basic profit per share – cents

14.5

0.8 24.8 15.3

38.4 226.3

Calculated on the weighted average
ordinary shares issued of:

376 598 733

376 573 381

376 141 981 376 586 057

376 261 700

375 669 155

The condensed consolidated financial statements below have been prepared in accordance with International Financial
Reporting Standards (“IFRS”) and IAS 34, which is consistent with the accounting policies used in the audited annual
financial statements for the year ended 30 June 2008.

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

As at

31 Dec 2008

30 Sep 2008

30 Jun 2008

31 Dec 2007

Unaudited

Unaudited

Audited

Unaudited

Assets
Property, plant and equipment

891.2

821.2 815.6 652.3

Non-current Investments and other assets

64.8

65.3 65.3 57.7

Environmental rehabilitation trust funds

120.7

116.0 110.8 82.8

Deferred tax

61.8

82.8 81.6

–

Current assets

944.9

1 036.6

1 189.2

956.6

Inventories

97.4

67.4 62.9 69.2

Trade and other receivables

223.5

145.2 240.5 123.2

Cash and cash equivalents

609.0

809.0 846.1 749.2

Assets classified as held for sale

15.0

15.0 39.7 15.0

Total assets

2 083.4

2 121.9

2 262.5

1 749.4

Equity and liabilities
Equity

1 285.4

1 240.7

1 305.5

1 130.2

Shareholders' equity

1 257.4

1 191.4

1 244.3

1 083.5

Minority shareholders' interest

28.0

49.3 61.2 46.7

Long-term liabilities

93.8

120.8 125.7 49.2

Post-retirement and other employee benefits

24.1

23.4 22.7 21.5

Provision for environmental rehabilitation

405.7

394.9 381.3 288.3

Current liabilities

274.4

342.1 427.3 260.2

Trade and other payables

262.2

270.3 387.4 260.2

Short-term liabilities

12.2

34.2 39.9

–

Liabilities classified as held for sale

–

37.6 –

–

Total equity and liabilities

2 083.4

2 121.9

2 262.5

1 749.4

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Quarter

Quarter

Quarter 6 months to

6 months to

Dec 2008

Sep 2008

Dec 2007 31 Dec 2008

30 Jun 2008

31 Dec 2007

Unaudited

Unaudited

Unaudited

Unaudited

Balance at the beginning of the period

1 240.7

1 305.5

1 251.8

1 305.5

1 130.2

143.5

Share capital issued

0.4

–

0.4

2.0 27.1

– for acquisition finance and cash

–

28.0

– for share options exercised

0.4

–

0.4

2.3 –

– for costs

–

(0.3)

(0.9)

Increase in share-based payment reserve

3.1

1.1 0.9 4.2

6.2 0.4

Net profit attributed to ordinary
shareholders

54.7

3.1 93.2 57.8

144.6 850.3

Net (loss)/profit attributed to minority
shareholders

(21.3)

(11.9)

(8.7)

(33.2)

31.9 198.3

Dividends declared

–

(37.6)

–

(37.6)

–

Decrease in minorities

–

(152.1)

–

(32.0)

(152.1)

Other comprehensive income/(loss)

7.8

(19.5)

(54.9)

(11.7)

22.6 62.7

Balance as at the end of the period

1 285.4

1 240.7

1 130.2

1 285.4

1 305.5

1 130.2

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Quarter

Quarter

Quarter 6 months to

6 months to

Dec 2008

Sep 2008

Dec 2007 31 Dec 2008

30 Jun 2008

31 Dec 2007

Unaudited

Unaudited

Unaudited

Unaudited

Net cash in/(out) flow from operations

29.5

25.3 (360.2)

54.8

231.0 (669.9)

Net cash (out)/inflow from investing activities

(81.6)

(46.4)

240.9

(128.0)

(186.5)

2 111.3

Net cash (out)/inflow from financing activities

(149.5)

(2.6)

20.1

(152.1)

27.6 (1 039.5)

(Decrease)/increase in cash and cash equivalents

(201.6)

(23.7)

(99.2)

(225.3)

72.1 401.9

Translation adjustment

1.6

(13.4)

(48.9)

(11.8)

24.8 209.6

Opening cash and cash equivalents

809.0

846.1 897.3 846.1

749.2 137.7

Closing cash and cash equivalents

609.0

809.0 749.2 609.0

846.1 749.2

Reconciliation of net cash in(out) flow
from operations
Profit before taxation

63.0

5.5 7.5

68.5

65.9 20.2

Net operating profit/(loss) from discontinued
operations

–

6.6

–

(1.8)

(50.0)

63.0

5.5 14.1 68.5

64.1 (29.8)

Adjusted for:
Movement in gold in process

(24.4)

3.0 (1.3)

(21.4)

(14.6)

(0.7)

Depreciation and impairment

21.9

64.6 19.9 86.5

93.3 39.6

Movement in provision for environmental
rehabilitation

9.0

12.1 4.8

21.1

20.7 9.5

Share-based payments

3.1

1.1 0.9 4.2

6.2 0.4

(Profit)/loss on derivative financial instruments

(39.8)

(7.3)

0.8

(47.1)

88.5 0.8

(Profit)/loss on sale of assets and investments

(10.2)

1.6 –

(8.6)

0.9 (12.0)

Finance expense and unwinding of provisions

(1.8)

(1.6)

(3.9)

(3.4)

3.1 (7.8)

Growth in Environmental Trust Funds

(3.3)

(3.5)

(2.0)

(6.8)

(6.3)

(3.8)

Other non-cash items

1.8

0.9 (18.4)

2.7

(29.3)

17.8

Taxation paid

(24.9)

–

(1.6)

(24.9)

(11.8)

(35.8)

Working capital changes

35.1

(51.1)

(373.5)

(16.0)

16.2 (648.1)

Net cash in/(out) flow from operations

29.5

25.3 (360.2)

54.8

231.0 (669.9)

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

South African operations

Quarter

Quarter

Quarter 6 months to

6 months to

Blyvoor

Dec 2008

Sep 2008

Change

Dec 2007 31 Dec 2008

30 Jun 2008 31 Dec 2007

Ore milled

Underground

t'000

150

154 (3)

164 304

329 358

Surface

t'000

889

884 1

937

1 773

1 926

1 793

Total

t'000

1 039

1 038

–

1 101

2 077

2 255

2 151

Yield

Underground

g/t

4.56

4.65 (2)

4.80

4.61

4.46 4.92

Surface

g/t

0.40

0.32 25

0.30 0.36

0.32 0.31

Total

g/t

1.00

0.96 4

0.97

0.98

0.92 1.07

Gold produced

Underground

21 991

23 020

(4)

25 302

45 011

47 164

56 649

684

716 (4)

787

1 400

1 467

1 762

Surface

11 414

9 034

9 131

20 448

19 740

17 619

355

281 26

284 636

614 548

Total

33 405

32 054

34 433

65 459

66 904

74 268

1 039

997 4

071

2 036

2 081

2 310

Cash operating costs

Underground

US$ per oz

765

934 18

823 852

815 736

ZAR per kg

252 617

233 929

(8)

179 621

243 059

201 706

164 709

ZAR per tonne

1 152

1 088

(6)

862

1 119

899 811

Surface

US$ per oz

251

451 44

418 339

364 412

ZAR per kg

84 020

112 836

91 415

96 752

89 896

92 175

ZAR per tonne

36 6

28 35

29 28

Total

US$ per oz

590

798 26

715 692

682 659

ZAR per kg

195 012

199 799

156 232

197 356

168 716

147 502

ZAR per tonne

195

192 (2)

152 193

156 158

Cash operating profit

US$ million

6.8

2.1 224 2.9 8.9

15.7 5.7

ZAR million

62.3

16.7 273 19.6 79.0

116.8 39.6

Capital expenditure (net)

US$ million

3.1

2.2 (41)

2.5 5.3

5.8 4.4

ZAR million

29.2

17.4 (68)

17.0 46.6

44.1 30.7

Total gold production rose by 4% to 33 405 oz, driven by a 26% increase in gold produced from surface sources to 11 414 oz.

Underground gold production was 4% lower at 21 991 oz, reflecting both a 3% decline in underground throughput to 150 000 t and a 2% decline in
the average underground yield to 4.56 g/t. The lower underground gold production is reflective both of a slower than expected return to normal
levels of operation following the previous quarter's Section 54 closures and of the Section 54 closure that followed a fatal accident during the quarter
under review, which resulted in the loss of two days of production.

Higher surface gold production resulted primarily from a 25% increase in the average surface yield to 0.40 g/t, a consequence of recovering the lower
portions of the main tailings dams where yields are characteristically higher. Surface throughput rose by 1% to 889 000 t.

Total cash operating costs were 2% lower at R195 012/kg, a consequence of the increase in total gold production. Underground cash operating costs
increased by 8% to R252 617/kg and surface cash operating costs declined by 26% to R84 020/kg.

Cash operating profit was 273% higher at R62.3 million, reflecting higher gold production and a much stronger average Rand gold price received, the
latter resulting from a more favourable average Rand/US Dollar exchange rate during the reporting period.

Capital expenditure increased by 68% to R29.2 million, a major line item being the purchase of additional self-contained self-rescuers.

Production build-up on the Way Ahead Project continues according to plan with a rate of 610 m

per month being achieved by the end of the quarter

under review and 1 200 m

per month targeted by the end of the June 2009 quarter.

The 15/29 Incline Project has encountered a slight delay due to late supplier delivery of the winders.

Some 100 former production employees of ERPM mine which has been placed on care and maintenance have been transferred to Blyvoor.They will
be deployed to a project to open up more face length on the Main Reef, the objective being to boost volumes at maintained real cost levels.

KEY OPERATING AND FINANCIAL RESULTS (UNAUDITED)

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

Quarter

Quarter

Quarter 6 months to

6 months to

Crown

Dec 2008

Sep 2008

Change

Dec 2007 31 Dec 2008

30 Jun 2008 31 Dec 2007

Ore milled

t'000

1 531

2 066

(26)

2 138

3 597

3 950

4 285

Yield

g/t

0.36

0.36 –

0.30

0.36

0.33 0.33

Gold produced

17 747

23 985

(26)

20 737

41 732

42 246

45 108

552

746 (26)

645

1 298

1 314

1 403

Cash operating costs

US$ per oz

575

544 (6)

617 557

543 562

ZAR per kg

189 848

136 075

(40)

134 798

158 943

134 479

125 628

ZAR per tonne

49 (39)

41 57

48 41

Cash operating profit

US$ million

3.1

7.7 (60)

3.6 10.8

16.3 7.7

ZAR million

36.3

60.0 (40)

24.6 96.3

121.8 53.9

Capital expenditure (net)

US$ million

1.2

1.6 25 0.3 2.8

5.3 0.5

ZAR million

12.8

12.2 (5)

2.2

25.0

38.4 3.7

Total gold production was 26% lower at 17 747 oz, resulting from a 26% decline in total throughput to 1 531 000 t.The average yield was unchanged at
0.36 g/t.

Reasons for the lower throughput are twofold: continuing implementation of the decision announced in the previous quarter to adjust throughput
downward to 400 000 tpm in order to address the diminishing capacity of the current tailings deposition site, and a delay of approximately one month
in commissioning the Top Star reclamation site.

Regarding the creation of additional tailings deposition capacity, various options – including construction of a pipeline to Ergo's Withok tailings deposition
site – are being considered currently.

While two factors delayed the Top Star commissioning – slowing of construction to contain dust pollution during the dry months before the onset of
the summer rains, and removal of higher volumes of overburden than was initially anticipated – monthly throughput had reached the targeted 100 000
tpm by the end of the quarter.This is half the planned full recovery rate.

Due to lower gold production, Crown's cash operating costs for the quarter were 40% higher at R189 848/kg and cash operating profit 40% lower at
R36.3 million.

Capital expenditure was 5% higher at R12.8 million, the major components of which were completion of Top Star construction and tailings deposition
site maintenance.

Quarter

Quarter

Quarter 6 months to

6 months to

ERPM

Dec 2008

Sep 2008

Change

Dec 2007 31 Dec 2008

30 Jun 2008 31 Dec 2007

Ore milled

Underground

t'000

64 (44)

72 100

146 157

Surface

t'000

298

379 (21)

504 677

849 1 010

Total

t'000

334

443 (25)

576 777

995 1 167

Yield

Underground

g/t

5.19

5.30 (2)

7.11

5.26

4.83 6.76

Surface

g/t

0.30

0.32 (6)

0.35

0.31

0.36 0.40

Total

g/t

0.83

1.04 (20)

1.19 0.95

1.01 1.25

Gold produced

Underground

6 011

10 899

(45)

16 463

16 910

22 665

34 147

187

339 (45)

512 526

705 1 062

Surface

2 894

3 923

(26)

5 626

6 817

9 774

12 893

122 (26)

175 212

304 401

Total

8 905

14 822

(40)

22 089

23 727

32 439

47 040

277

461 (40)

687 738

1 009

1 463

Cash operating costs

Underground

US$ per oz

1 005

1 062

(5)

777

1 042

966 710

ZAR per kg

354 011

265 794

(33)

170 171

297 156

239 404

158 765

ZAR per tonne

1 839

1 408

(31)

1 210

1 563

1 156

1 072

Surface

US$ per oz

1 157

840 (38)

729 975

564 606

ZAR per kg

370 122

210 385

(76)

159 537

278 198

141 674

135 653

ZAR per tonne

68 (3)

55 69

51 54

Total

US$ per oz

1 054

1 003

(5)

765

1 022

845 681

ZAR per kg

359 245

251 130

(43)

167 463

291 710

209 959

152 430

ZAR per tonne

194

261 26

200 225

213 191

Cash operating (loss)/
profit

US$ million

(3.0)

(2.1)

(43)

0.6

(5.1)

2.0 2.4

ZAR million

(28.8)

(16.5)

(75)

3.5

(45.3)

15.7 16.5

Capital expenditure (net)

US$ million

2.5

0.6 (317)

1.3

3.1

1.9 2.2

ZAR million

23.5

4.3 (447)

9.0 27.8

14.9 15.2

ERPM's results reflect the effect of only one month of underground mining – a consequence of the previously-announced suspension of the
underground mining operation.

Total gold produced was 40% lower at 8 905 oz, reflecting a 45% decline in underground gold production to 6 011 oz and a 26% decline in surface
gold production to 2 894 oz.

KEY OPERATING AND FINANCIAL RESULTS (UNAUDITED)

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

KEY OPERATING AND FINANCIAL RESULTS (UNAUDITED)

Underground throughput for the month of October was 36 000 t, down 44% from the previous full quarter's 64 000 t. The average yield was 2%
lower at 5.19 g/t.

Lower surface gold production resulted from a 6% decline in the average yield to 0.30 g/t as recovery of lower grade material from the southern face
of the Cason dump continued. Surface throughput was down 21% to 298 000 t.

Total cash operating costs were 43% higher at R359 245/kg, reflecting the lower gold production. Underground cash operating costs rose by 33% to
R354 011/kg and surface cash operating costs by 76% to R370 122/kg.

The cash operating loss, quarter on quarter, increased by 75% to R28.8 million.

Capital expenditure increased to R23.5 million from R4.3 million, reflecting a land acquisition forming part of an overall plan to realise value for
DRDGOLD's property holdings.

Exploration and prospecting

ERPM

All exploration drilling has been terminated due to ERPM’s underground operations having been suspended. Final resource estimation for ERPM began
during January 2009.

Extension 1
The following mining activities took place in the Extension 1 area in accordance with the revised prospecting programme (all figures in situ):

Area

G/t

Tons

Grams

Remarks

71e 2e

1.10

11.9

121

1 435

71e 3ae

198

1.37

0.1

743

Faulting

71e 3e

1.21

5.4

113

609

Faulting

Total

272

977

2 118

Extension 2
Copies of the Sallies exploration borehole logging and reports from Anglogold Ashanti were exchanged for sampling data and reports from Blyvoor.

Blyvoor
The exploration hole at 38-33 intersected Main Reef and assayed at 1 656 cmg/t. Cover drilling is in progress at 41-18, 38-28 and 38-21.The geologist
from ERPM has been seconded to Blyvooruitzicht to assist with the Main Reef exploration.

Three recovery percentage checks for the Doornfontein No 1, 2 and 3 slimes dams were completed and returned respective values of 37.6, 33.4 and
43.9%.

Crown and Ergo
Phase 2 drilling of the Marievale complex has been completed and a survey of all the Marievale slimes dams is in progress.

Discontinued operations

Quarter

Quarter

Quarter 6 months to

6 months to

Tolukuma

Dec 2008

Sep 2008

Change

Dec 2007 31 Dec 2008

30 Jun 2008 31 Dec 2007

Ore milled

t'000

–

Yield

g/t

–

9.64

–

7.45

Gold produced

–

3 394

–

13 427

–

106

–

417

Cash operating costs

US$ per oz

–

1 336

–

1 098

ZAR per kg

–

292 887

–

248 751

ZAR per tonne

–

2 822

–

1 852

Cash operating loss

US$ million

–

(1.7)

–

(2.6)

ZAR million

–

(11.5)

–

(18.0)

Capital expenditure (net)

US$ million

–

0.1

–

2.2

ZAR million

–

0.3

–

15.3

• SHAREHOLDER REPORT 2008 •

DRDGOLD LIMITED

Continuing operations

Total Mine

R000 unless otherwise stated

Crown

ERPM

Blyvoor

Operations

Total cash costs

Dec 08 Qtr

113 822

134 971

190 908

439 701

Sep 08 Qtr

109 130

121 793

212 802

443 725

6 Mths to Dec 08

222 952

256 764

403 710

883 426

Movement in gold in process

Dec 08 Qtr

(91)

3 796

20 701

24 406

Sep 08 Qtr

1 243

1 991

(6 245)

(3 011)

6 Mths to Dec 08

1 152

5 787

14 456

21 395

Less: Production taxes, rehabilitation and other

Dec 08 Qtr

5 185

4 028

4 287

13 500

Sep 08 Qtr

5 111

3 035

3 162

11 308

6 Mths to Dec 08

10 296

7 063

7 449

24 808

Less: Retrenchment costs

Dec 08 Qtr

–

31 111

–

31 111

Sep 08 Qtr

–

858

–

858

6 Mths to Dec 08

–

31 969

–

31 969

Less: Corporate and general administration costs

Dec 08 Qtr

3 750

4 117

4 705

12 572

Sep 08 Qtr

3 750

4 120

4 195

12 065

6 Mths to Dec 08

7 500

8 237

8 900

24 637

Cash operating costs

Dec 08 Qtr

104 796

99 511

202 617

406 924

Sep 08 Qtr

101 512

115 771

199 200

416 483

6 Mths to Dec 08

206 308

215 282

401 817

823 407

Gold produced – kgs

Dec 08 Qtr

552

277

1 039

1 868

Sep 08 Qtr

746

461

997

2 204

6 Mths to Dec 08

1 298

738

2 036

4 072

Total cash operating costs – R/kg

Dec 08 Qtr

189 848

359 245

195 012

217 839

Sep 08 Qtr

136 075

251 130

199 799

188 967

6 Mths to Dec 08

158 943

291 710

197 356

202 212

Total cash operating costs – US$/oz

Dec 08 Qtr

575

1 054

590

654

Sep 08 Qtr

544

1 003

798

755

6 Mths to Dec 08

557

1 022

692

709

CASH OPERATING COSTS RECONCILIATION

DIRECTORS

(*British) (**American)

Executives:

DJ (Niel) Pretorius (Chief Executive Officer)

CC Barnes (Chief Financial Officer)

Non-executive:

J Turk**

Independent non-executives:

GC Campbell* (Non-Executive Chairman)

RP Hume

EA Jeneker

Company Secretary:

TJ Gwebu

For further information, contact Niel Pretorius at:

Tel: (+27-11) 219-8700

Fax: (+27-11) 476-2637

website: http://www.drdgold.com

Ebsco House 4, 299 Pendoring Avenue, Blackheath

Randburg, South Africa

PO Box 390, Maraisburg, 1700, South Africa