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 2013

Commission File Number 0-28800

______________________

DRDGOLD Limited

Quadrum Office Park

Building 1

50 Constantia Boulevard

Constantia Kloof Ext 28

Roodepoort, South Africa, 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

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 2013, incorporated
by reference herein:

Exhibit

99.1 Release dated February 12, 2013, entitled “REPORT TO SHAREHOLDERS FOR THE
SECOND QUARTER AND SIX MONTHS ENDED 31 DECEMBER 2012”.

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 12, 2013

By: /s/ Themba Gwebu

Name: Themba Gwebu

Title:

Company

Secretary

GROUP RESULTS

KEY FEATURES FOR THE QUARTER

Interim dividend declared of 14 cents
per ordinary share

Gold production up 9% to 39 031oz
Gold revenue up 10% to R580.6 million

Cash operating cost down 12% to US$1 017

per ounce

Operating proﬁt up 37% to R238.7 million
Headline earnings per share up 25% to 25 cents
per share

Report to shareholders for the second quarter and
six months ended 31 December 2012

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

STOCK TRADED

JSE

NYSE*

Average volume for the quarter

per day ('000)

715

569

% of issued stock traded (annualised)

Price • High

R7.05

$0.809

• Low

R5.30

$0.646

• Close

R6.60

$0.760

* This data represents per share data and not ADS data – one ADS reﬂects ten

ordinary shares

SHAREHOLDERS INFORMATION

Issued capital

385 383 767 ordinary no par value shares

6 205 559 treasury shares held within the group

5 000 000 cumulative preference shares

Total ordinary no par value shares issued and

committed: 389 315 124

REVIEW OF OPERATIONS

Quarter

Quarter

% change

Quarter 6 months to

6 months to

% change

6 months to

Dec 2012

Sep 2012

Dec 2011

31 Dec 2012

31 Dec 2011

30 Jun 2012

Gold production
Continuing operations

39 031

35 815

33 983

74 846

68 545

67 163

1 214

1 114

1 057

2 328

2 132

2 089

Discontinued operations

–

29 676

–

58 676

–

37 969

–

923

–

1 825

–

1 181

Group

39 031

35 815

63 659

74 846

127 221

(41)

105 132

1 214

1 114

1 980

2 328

3 957

(41)

3 270

Gold production sold
Continuing operations

39 031

37 905

33 983

76 936

70 506

64 913

1 214

1 179

1 057

2 393

2 193

2 019

Discontinued operations

–

29 676

–

58 676

–

36 683

–

923

–

1 825

–

1 141

Group

39 031

37 905

63 659

76 936

129 182

(40)

101 596

1 214

1 179

1 980

2 393

4 018

(40)

3 160

Cash operating costs
Continuing operations

US$ per oz

1 017

1 151

(12)

1 010

1 081

1 076

–

1 116

ZAR per kg

284 425

305 265

(7)

263 569

294 397

261 864

283 917

Discontinued operations

US$ per oz

–

1 245

–

1 372

–

1 454

ZAR per kg

–

326 677

–

334 568

–

373 930

Group

US$ per oz

1 017

1 151

(12)

1 118

1 081

1 211

(11)

1 238

ZAR per kg

284 425

305 265

(7)

292 988

294 397

295 396

–

316 426

Gold price received

US$ per oz

1 714

1 685

1 679

1 699

1 707

–

1 645

ZAR per kg

478 309

446 783

437 316

462 776

416 141

421 586

Capital expenditure

US$ million

11.9

9.7

11.5

21.6

21.4

19.7

ZAR million

103.5

79.6

84.4

183.1

162.3

156.8

MARKET CAPITALISATION

As at 31 December 2012

(ZARm)

2 543.5

As at 30 September 2012

(ZARm)

2 081.1

As at 31 December 2012

(US$m)

292.9

As at 30 September 2012

(US$m)

244.7

All ﬁgures used in this report represent continuing operations, unless speciﬁed otherwise.

DRDGOLD LIMITED Shareholder Report 2012

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 sustained strengthening of the Rand against the Dollar, regulatory
developments adverse to DRDGOLD or difﬁculties in maintaining necessary licenses 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 2012, which we ﬁled with the United States Securities and
Exchange Commission on 26 October 2012 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. Any forward-looking statements included in this
report have not been reviewed and reported on by DRDGOLD’s auditors.

Dear shareholder

Group operating and ﬁnancial results for the quarter were satisfactory, reﬂecting a solid performance from Ergo.

As a consequence, we are delighted to announce an interim dividend of 14 cents per ordinary share.

A 37% increase in operating proﬁt resulted from a 9% increase in gold production and a 7% increase in the average Rand gold price
received during the quarter.

Headline earnings per share increased by 25% to 25 South African cents per share.

Ergo’s new ﬂotation/ﬁne-grind project accounted for most of the R103.5 million capital expenditure for the quarter. It is expected that
approximately R94.3 million will be spent on the ﬂotation/ﬁne-grind project over the next two quarters. A slight delay in the arrival of
the mills from Canada is not expected to affect the attainment of full throughput by the end of the current ﬁnancial year.

Detailed operational review

ERGO

Q2 2013 V Q1 2013

Gold production increased by 9% to 39 031oz due to an 8% rise in throughput to 6 066 000t. Yield was unchanged at 0.20g/t. The higher
volume resulted from continuing stabilisation in the operation of the new Crown/Ergo pipeline.

Cash operating unit costs were 7% lower at R284 425/kg, reﬂecting the increase in gold production.

Operating proﬁt rose by 37% to R238.7 million, a consequence both of higher gold production and a 7% increase in the average Rand
gold price received to R478 309/kg.

Capital expenditure was 30% higher at R103.5 million. Most of this was incurred by the ﬂotation/ﬁne-grind project which is currently
under development.

Q2 2013 V Q2 2012

Gold production for the quarter under review was 15% higher, up from 33 983oz recorded in the comparable quarter of FY2012.
This reﬂected a 16% rise in throughput from 5 234 000t, a consequence of the Crown/Ergo pipeline coming into operation. Yield was
steady at 0.20g/t.

Cash operating unit costs were up 8% from R263 569/kg, mainly attributable to annual increases in the cost of electricity, labour and
consumables as well as the increase in volumes year-on-year. Operating proﬁt was 26% higher, a result of both higher gold production
and a 9% increase in the average Rand gold price.

Capital expenditure was up 23% from R84.4 million, reﬂecting development of the ﬂotation/ﬁne-grind project.

DRDGOLD LIMITED Shareholder Report 2012

ZIMBABWE

Current indications point to underground mining potential at Leny, Ascot, KT and particularly John Bull. Underground mining is not in
line with DRDGOLD’s strategy, so these prospects will be packaged for disposal. We are currently ﬁnalising a feasibility study on the
reclamation of gold tailings.

ERPM EXPLORATION UPDATE

We reported previously that we were working to unlock the value of ERPM, which has an inferred gold resource of approximately
21 million ounces. With the Cason Dump in the ﬁnal stages of being removed, near-surface, underground ounces in this area have
become accessible through ERPM’s Cason Shaft. We have refurbished and re-commissioned the shaft at a cost of R12 million and
completed the construction of a 6 000t/m plant at a cost of R13 million to provide near-term cash ﬂows. We expect these to make ERPM
self-sustaining, in order to support the cost of exploration required to add to value to the gold resource.
This asset is now held for sale and we will be appointing corporate advisors to assist in the process.

CORPORATE ACTIVITIES

During the quarter, DRDGOLD announced that three of its subsidiaries – collectively the Ergo Group – had entered into heads of
agreement with the Trans-Caledon Tunnel Authority, aimed at laying a foundation for a self-sustaining solution to acid mine drainage
in the Central Witwatersrand Basin. Details relating to these heads of agreement are contained in a DRDGOLD media release issued on
7 December 2012 and posted on the company’s website at:
http://www.drd.co.za/investors-and-media/media-releases/2012/drdgold-and-tcta-agree-terms-on-acid-mine-drainage-12-07-2012

INTERIM DIVIDEND

The board has approved and declared an interim dividend of 14 SA cents per ordinary share (gross) in respect of the six months ending
31 December 2012.
The dividend will be subject to the new Dividends Tax that was introduced with effect from 1 April 2012. In accordance with paragraphs
11.17 (a) (i) to (x) and 11.17(c) of the JSE Listings Requirements the following additional information is disclosed:

•

the dividend has been declared out of income reserves;

•

the local Dividends Tax rate is 15% (ﬁfteen per cent);

•

there are no Secondary Tax on Companies (STC) credits to be utilised;

•

the gross local dividend amount is 14 SA cents per ordinary share for shareholders exempt from the Dividends Tax;

•

the net local dividend amount is 11.9 SA cents per ordinary share for shareholders liable to pay the Dividends Tax;

•

DRDGOLD currently has 385 383 767 ordinary shares in issue (which includes 6 205 559 treasury shares); and

•

DRDGOLD’s income tax reference number is 9160/013/60/4.

In compliance with the requirements of Strate, given the company’s primary listing on the JSE Limited, the salient dates for payment of
the dividend are as follows:

2013
Last date to trade ordinary shares cum dividend

Friday, 8 March

Ordinary shares trade ex dividend

Monday, 11 March

Record date

Friday, 15 March

Payment date

Monday, 18 March

On payment date, dividends due to holders of certiﬁcated securities on the South African share register will either be electronically
transferred to the shareholders’ bank accounts or, in the absence of suitable mandates, dividend cheques will be posted to such
shareholders.

Dividends in respect of dematerialised shareholdings will be credited to shareholders’ accounts with the relevant CSDP or broker.
To comply with the further requirements of Strate, between Monday, 11 March 2013 and Friday 15 March 2013, both days inclusive, no
transfers between the South African and any other share register will be permitted and no ordinary shares pertaining to the South African
share register may be dematerialised or rematerialised.

The currency conversion date for the Australian and United Kingdom registers will be Monday, 18 March 2013.
To holders of American Depository Shares

Each American Depository Share (“ADS”) represents 10 ordinary shares

2013
ADS trade ex dividend on NYSE

Wednesday, 13 March

Record date

Friday, 15 March

Approximate date of currency conversion

Friday, 22 March

Approximate payment date of dividend

Monday, 25 March

Assuming an exchange rate of R8.87/$1, the dividend payable on an ADS is equivalent to 13.42 US cents for shareholders liable to pay
the Dividends Tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion

LOOKING FORWARD

Our priority remains delivery on our FY2013 targets. In the second half, we will continue to focus on maintaining tonnage volumes to
the plant and on completing the ﬂotation/ﬁne-grind circuit.

Niël Pretorius – Chief executive ofﬁcer
12 February 2013

DRDGOLD LIMITED Shareholder Report 2012

The condensed consolidated interim ﬁnancial statements are prepared in accordance with the recognition and measurement
principles of International Financial Reporting Standards (IFRS) and presented in accordance with the minimum content,
including disclosures, prescribed by IAS 34 Interim Financial Reporting applied to interim reporting and South African
Statements and Interpretations of Statements of Generally Accepted Accounting Practice (AC 500 Series). The accounting
policies adopted are in line with IFRS and are consistent with those applied in the annual ﬁnancial statements for the year
ended 30 June 2012.

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter

Dec 2012

Unaudited

Quarter

Sep 2012

Unaudited

Quarter

Dec 2011

Unaudited

6 months to

31 Dec 2012

Unaudited

6 months to

31 Dec 2011

Unaudited

6 months to
30 Jun 2012

Unaudited

Continuing operations

Gold and silver revenue

580.6

526.8

462.8

1 107.4

912.4

851.8

Net operating costs

(341.9)

(353.1)

(274.1)

(695.0)

(567.2)

(574.8)

Cash operating costs

(345.3)

(340.1)

(278.6)

(685.4)

(558.3)

(593.1)

Movement in gold in process

3.4

(13.0)

4.5

(9.6)

(8.9)

18.3

Operating proﬁt

238.7

173.7

188.7

412.4

345.2

277.0

Depreciation

(33.9)

(34.2)

(30.6)

(68.1)

(57.8)

(61.4)

Movement in provision for environmental
rehabilitation

(16.2)

(10.0)

(6.0)

(26.2)

(13.1)

(46.4)

Retrenchment costs

(0.6)

–

(0.6)

–

Net operating proﬁt

188.0

129.5

152.1

317.5

274.3

169.2

Impairments

–

(1.1)

Environmental rehabilitation costs

(12.5)

(17.2)

(9.3)

(29.7)

(23.8)

(23.5)

Corporate, administration and other expenses

(36.0)

(34.0)

(31.1)

(70.0)

(52.6)

(77.5)

Share-based payments

(1.6)

(0.3)

(1.3)

(1.9)

(1.7)

(1.4)

Net loss on ﬁnancial liabilities measured at
amortised cost

–

(6.8)

–

(7.1)

–

Proﬁt/(loss) on disposal of assets

0.1

2.5

–

2.6

–

(9.6)

Finance income

8.2

33.6

5.4

41.8

10.8

13.7

Finance expenses

(3.2)

(4.0)

(1.5)

(7.2)

(6.0)

(2.7)

Proﬁt before taxation

143.0

110.1

107.5

253.1

193.9

67.1

Income tax

2.9

9.9

(8.6)

12.8

(14.4)

(2.6)

Deferred tax

(21.9)

(26.7)

(25.8)

(48.6)

(60.4)

69.4

Proﬁt after taxation

124.0

93.3

73.1

217.3

119.1

133.9

Discontinued operations

Proﬁt for the period from discontinued operations

–

92.0

–

129.1

5.4

Loss on sale of subsidiary

–

(10.5)

Net proﬁt for the period

124.0

93.3

165.1

217.3

248.2

128.8

Attributable to:

Equity owners of the parent

93.0

78.6

125.3

171.6

200.7

108.0

Non-controlling interest

31.0

14.7

39.8

45.7

47.5

20.8

124.0

93.3

165.1

217.3

248.2

128.8

Other comprehensive income

Foreign exchange translation and other

0.5

4.9

(0.6)

5.4

(3.2)

(0.8)

Net gain/(loss) on an available-for-sale ﬁnancial
asset

–

0.3

–

0.3

–

(6.7)

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

3.6

(36.3)

–

(32.7)

–

19.2

Total comprehensive income for the period

128.1

62.2

164.5

190.3

245.0

140.5

Attributable to:

Equity owners of the parent

97.1

47.5

124.7

144.6

197.5

120.7

Non-controlling interest

31.0

14.7

39.8

45.7

47.5

19.8

128.1

62.2

164.5

190.3

245.0

140.5

DRDGOLD LIMITED Shareholder Report 2012

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter

Dec 2012

Unaudited

Quarter

Sep 2012

Unaudited

Quarter

Dec 2011

Unaudited

6 months to

31 Dec 2012

Unaudited

6 months to

31 Dec 2011

Unaudited

6 months to
30 Jun 2012

Unaudited

Reconciliation of headline earnings
Net proﬁt

93.0

78.6

125.3

171.6

200.7

108.0

Adjusted for
– Impairments

–

1.1

– (Proﬁt)/loss on disposal of assets

(0.1)

(2.5)

–

(2.6)

–

9.6

– Loss on sale of subsidiary

–

10.5

– Net gain on disposal of an available-for-sale

ﬁnancial asset

–

(6.7)

– Non-controlling interest in headline earnings

adjustment

0.1

0.6

–

0.7

–

4.9

– Taxation thereon

–

0.5

–

0.5

–

1.7

Headline earnings

93.0

77.2

125.3

170.2

200.7

129.1

Headline earnings per share-cents
– From continuing operations

– From total operations

Basic earnings per share-cents
– From continuing operations

– From total operations

Diluted headline earnings per share-cents

Diluted basic earnings per share-cents

Calculated on the weighted average ordinary shares

issued of :

379 178 208

385 173 763 379 178 208

385 029 071

384 348 721

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

31 Dec 2012

As at

30 Sep 2012

As at

31 Dec 2011

As at

30 Jun 2012

Notes

Unaudited

Reviewed

Assets
Non-current assets

2 105.6

1 999.0

1 731.4

2 021.6

Property, plant and equipment

1 767.9

1 692.8

1 570.4

1 641.6

Non-current Investments and other assets

141.7

125.7

10.8

176.1

Environmental rehabilitation trust funds and investments

182.0

174.1

103.4

165.6

Deferred tax asset

14.0

6.4

46.8

38.3

Current assets

664.8

712.8

716.8

470.6

Inventories

104.1

91.8

89.7

105.8

Trade and other receivables

162.3

211.1

92.0

66.3

Cash and cash equivalents

398.4

409.9

320.9

298.5

Assets classiﬁed as held for sale

–

214.2

–

Total assets

2 770.4

2 711.8

2 448.2

2 492.2

Equity and Liabilities
Equity

1 755.2

1 657.6

1 439.0

1 633.9

Equity of the owners of the parent

1 482.8

1 416.2

1 419.6

1 497.2

Non-controlling interest

272.4

241.4

19.4

136.7

Non-current liabilities

778.1

753.6

622.5

597.3

Loans and borrowings

146.3

166.0

–

Post-retirement and other employee beneﬁts

6.1

5.8

6.0

Provision for environmental rehabilitation

527.1

513.8

456.2

504.3

Deferred tax liability

98.6

67.7

160.5

87.0

Current liabilities

237.1

300.6

386.7

261.0

Trade and other payables

215.0

269.8

209.1

230.3

Loans and borrowings

22.1

30.8

30.5

30.7

Liabilities classiﬁed as held for sale

–

147.1

–

Total equity and liabilities

2 770.4

2 711.8

2 448.2

2 492.2

DRDGOLD LIMITED Shareholder Report 2012

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Quarter

Quarter

6 months to

6 months to

Dec 2012

Unaudited

Sep 2012

Unaudited

Dec 2011

Unaudited

31 Dec 2012

Unaudited

31 Dec 2011

Unaudited

30 Jun 2012

Unaudited

Balance at the beginning of the period

1 657.6

1 633.9

1 271.2

1 633.9

1 219.2

1 439.0

Share capital issued

0.3

(0.3)

1.8

–

1.8

(0.5)

– for share options exercised

–

1.8

–

1.8

–

– for costs

0.3

(0.3)

–

(0.5)

Increase in share-based payment reserve

0.3

1.5

0.6

1.9

2.2

Net proﬁt attributable to equity owners of the
parent

93.0

78.6

125.3

171.6

200.7

108.0

Net proﬁt attributable to non-controlling interest

31.0

14.7

39.8

45.7

47.5

20.8

Disposal of subsidiary attributable to non-controlling
interest

–

97.5

Dividends paid on ordinary share capital

0.6

(38.5)

–

(37.9)

(28.9)

–

Dividends paid to non-controlling interest

(7.6)

–

(7.6)

–

Treasury shares acquired

–

(44.8)

Fair value adjustment on available-for-sale
investments

3.6

(36.3)

–

(32.7)

–

Share Option Scheme buy-out

(24.1)

–

(24.1)

–

Other comprehensive income

0.5

5.2

(0.6)

5.7

(3.2)

11.7

Balance as at the end of the period

1 755.2

1 657.6

1 439.0

1 755.2

1 439.0

1 633.9

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

Quarter

Dec 2012

Unaudited

Quarter

Sep 2012

Unaudited

Quarter

Dec 2011

Unaudited

6 months to

31 Dec 2012

Unaudited

6 months to

31 Dec 2011

Unaudited

6 months to
30 Jun 2012

Unaudited

Net cash inﬂow from operations

213.1

32.0

243.9

245.1

361.8

257.7

Net cash outﬂow from investing activities

(126.5)

(85.3)

(89.2)

(211.8)

(172.3)

(239.3)

Net cash (out)/inﬂow from ﬁnancing activities

(98.1)

164.7

(119.4)

66.6

(119.4)

(49.1)

Loans and other

(53.8)

164.7

(73.3)

110.9

(73.3)

(4.3)

Treasury shares acquired

–

(44.8)

Dividends paid to owners of the parent

(38.5)

–

(28.9)

(38.5)

(28.9)

–

Dividends paid to non-controlling interest holders

(5.8)

–

(17.2)

(5.8)

(17.2)

–

(Decrease)/Increase in cash and cash equivalents

(11.5)

111.4

35.3

99.9

70.1

(30.7)

Opening cash and cash equivalents

409.9

298.5

293.9

298.5

259.1

329.2

Closing cash and cash equivalents

398.4

409.9

329.2

398.4

329.2

298.5

Cash classiﬁed as assets held for sale included in the
closing balance

–

8.3

–

8.3

–

Reconciliation of net cash inﬂow from operations
Proﬁt before taxation

143.0

110.1

107.5

253.1

193.9

67.1

Proﬁt from discontinued operations

–

92.0

–

129.1

5.4

143.0

110.1

199.5

253.1

323.0

72.5

Adjusted for:
Movement in gold in process

(3.4)

13.0

(1.5)

9.6

13.4

(28.1)

Depreciation and impairment

33.9

34.2

31.7

68.1

59.5

62.5

Movement in provision for environmental
rehabilitation

16.2

10.0

4.6

26.2

11.9

47.3

Share-based payments

1.6

0.3

1.5

1.9

2.2

Loss on ﬁnancial liabilities measured at
amortised cost

–

6.8

–

7.1

–

Proﬁt on disposal of assets

(0.1)

(2.5)

–

(2.6)

–

9.6

Proﬁt on disposal of subsidiaries and joint venture

–

Finance expense and unwinding of provisions

0.3

1.1

2.9

1.4

5.6

1.7

Growth in Environmental Trust Funds

(1.3)

(1.5)

(1.9)

(2.8)

(3.6)

(4.7)

Other non-cash items

(3.4)

(1.9)

(1.2)

(5.3)

(2.9)

(5.6)

Taxation paid

3.0

7.0

(8.5)

10.0

(8.5)

(8.8)

Working capital changes

23.3

(137.8)

10.0

(114.5)

(45.6)

109.1

Net cash inﬂow from operations

213.1

32.0

243.9

245.1

361.8

257.7

DRDGOLD LIMITED Shareholder Report 2012

Notes to the ﬁnancial statements

1. Cash and cash equivalents

Included in cash and cash equivalents is restricted cash of R69.2 million.

2. Loans and borrowings

Included in loans and borrowings is a Domestic Medium Term Note Programme (DMTN Programme) under which DRDGOLD can issue notes from
time to time. DRDGOLD raised a total of R165 million under the DMTN Programme in July and September 2012. The different unsecured notes issued
mature 12 (R20.0 million), 24 (R69.5 million) and 36 (R75.5 million) months from the date of issue and bear interest at the three month Johannesburg
Inter-bank Acceptance Rate (JIBAR) rate (currently 5.081%) plus a margin ranging from 4% to 5% per annum.

KEY OPERATING AND FINANCIAL RESULTS (Unaudited)

Ore milled (t000) (metric) (imperial)

Dec 2012 Qtr

6 066

6 687

Sep 2012 Qtr

5 598

6 170

Dec 2012 Ytd

11 664

12 857

Yield (g/t)(oz/t)

Dec 2012 Qtr

0.20

0.006

Sep 2012 Qtr

0.20

0.006

Dec 2012 Ytd

0.20

0.006

Gold produced (kg)(oz)

Dec 2012 Qtr

1 214

39 031

Sep 2012 Qtr

1 114

35 815

Dec 2012 Ytd

2 328

74 846

Cash operating costs (ZAR/kg)(US$/oz)

Dec 2012 Qtr

284 425

1 017

Sep 2012 Qtr

305 265

1 151

Dec 2012 Ytd

294 397

1 081

Cash operating costs (ZAR/t)(US$/t)

Dec 2012 Qtr

Sep 2012 Qtr

Dec 2012 Ytd

Gold and Silver revenue (ZAR million)(US$ million)

Dec 2012 Qtr

580.6

66.8

Sep 2012 Qtr

526.8

63.9

Dec 2012 Ytd

1 107.4

130.7

Operating proﬁt (ZAR million)(US$ million)

Dec 2012 Qtr

238.7

27.6

Sep 2012 Qtr

173.7

21.1

Dec 2012 Ytd

412.4

48.7

Capital expenditure (ZAR million)(US$ million)

Dec 2012 Qtr

103.5

11.9

Sep 2012 Qtr

79.6

9.7

Dec 2012 Ytd

183.1

21.6

There has been no material change to the technical information relating to, inter alia, the group’s reserves and resources, legal title to its mining and
prospecting rights and legal proceedings relating to its mining and exploration activities as disclosed in the company’s annual report of 30 June 2012 and
subsequent public announcements.

The technical information referred to in this report has been reviewed by Mr Vivian Labuschagne (PLATO), mineral resource manager, a full time employee
of the company. He has approved this information in writing before the publication of this report.

DIRECTORS (*British)(**American)
Executives: DJ Pretorius (Chief executive ofﬁcer),
CC Barnes (Chief ﬁnancial ofﬁcer)
Independent non-executives: GC Campbell* (Non-executive chairman),
RP Hume, EA Jeneker, J Turk**
Company secretary: TJ Gwebu

FOR FURTHER INFORMATION, CONTACT NIËL PRETORIUS AT:

Tel: +27 (0)11 470 2600 Fax: +27 (0)11 470 2618

Web: http://www.drdgold.com

Quadrum Ofﬁce Park • Building 1 • 50 Constantia Boulevard
Constantia Kloof Ext 28 • South Africa
PO Box 390 • Maraisburg 1700 • South Africa

CASH OPERATING COSTS RECONCILIATION

R million unless otherwise stated

Total cash costs

Dec 2012 Qtr

393.2

Sep 2012 Qtr

406.0

Dec 2012 Ytd

799.2

Movement in gold in process

Dec 2012 Qtr

3.4

Sep 2012 Qtr

(13.0)

Dec 2012 Ytd

(9.6)

Less: Assessment rates, rehabilitation and other

Dec 2012 Qtr

22.5

Sep 2012 Qtr

33.6

Dec 2012 Ytd

56.1

Less: Retrenchment costs

Dec 2012 Qtr

0.6

Sep 2012 Qtr

–

Dec 2012 Ytd

0.6

Less: Corporate and general administration costs

Dec 2012 Qtr

28.2

Sep 2012 Qtr

19.3

Dec 2012 Ytd

47.5

Cash operating costs

Dec 2012 Qtr

345.3

Sep 2012 Qtr

340.1

Dec 2012 Ytd

685.4

Gold produced (kg)

Dec 2012 Qtr

1 214

Sep 2012 Qtr

1 114

Dec 2012 Ytd

2 328

Total cash operating costs (R/kg)

Dec 2012 Qtr

284 425

Sep 2012 Qtr

305 265

Dec 2012 Ytd

294 397

Total cash operating costs (US$/oz)

Dec 2012 Qtr

1 017

Sep 2012 Qtr

1 151

Dec 2012 Ytd

1 081