6-K 1 operatingupdate.htm 6-K operatingupdate
 
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 2020
 
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
 
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
 
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 2020, incorporated by
reference herein:
 
Exhibit
 
99.1 Release dated October 27,
 
2020, “OPERATING
 
UPDATE
 
FOR THE QUARTER
 
ENDED 30
SEPTEMBER 2020”
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 27, 2020 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 2020
The operating
 
update of the Company for the quarter ended 30 September
 
2020 is as follows:
Quarter ended
Quarter ended
30 SEP 2020
30 JUN 2020
% change
Production
Gold produced
kg
1,514
1,041
45%
oz
48,676
33,469
45%
Gold sold
kg
1,522
951
60%
oz
48,934
30,576
60%
Ore milled
Metric (000't)
 
7,260
5,737
27%
Yield
Metric (g/t)
0.209
0.181
15%
Price and costs
Average gold price received
R per kg
1,029,893
970,198
6%
US$ per oz
1,896
1,682
13%
Adjusted EBITDA *
Rm
770.4
366.3
110%
US$m
45.6
18.9
141%
Cash operating costs
R/t
104
102
2%
US$/t
6
6
-
Cash operating costs
R per kg
489,750
542,482
-10%
US$ per oz
901
941
-4%
All-in sustaining costs **
R per kg
588,239
579,180
2%
US$ per oz
1,083
1,004
8%
All-in cost **
R per kg
613,206
597,371
3%
US$ per oz
1,129
1,036
9%
Capital expenditure
Sustaining
Rm
95.1
84.4
13%
US$m
5.6
4.7
19%
Non-sustaining/growth
Rm
25.3
4.5
462%
US$m
1.5
0.3
400%
Average R/US$ exchange rate
16.90
17.94
-6%
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
 
45% from the previous
 
quarter to 1,514kg primarily
 
due to a 27%
 
increase in
tonnage throughput and a 15% increase in yield. Gold
 
sold increased by 60%.
 
 
As a result, the
 
cash operating cost
 
per kilogram of gold
 
sold decreased by
 
10% from the
 
previous quarter
to R489,750/kg. The cash operating cost per ton of material
 
processed increased by 2% to R104/t.
 
All-in sustaining
 
costs per
 
kilogram and
 
all-in costs
 
per kilogram
 
were R588,239/kg
 
and R613,206/kg,
respectively, increasing
 
quarter on quarter mainly due to an increase in susta
 
ining capital expenditure.
 
Adjusted EBITDA
 
increased by
 
110% from
 
the previous
 
quarter to
 
R770.4 million
 
primarily due
 
to a
 
60%
increase in gold sold
 
and a 6% increase in the average Rand gold price
 
received of R1,029,893/kg.
 
Cash and cash equivalents
 
increased by R
 
300.1 million to R2,015.2
 
million as at
 
30 September 2020
 
after
paying the final dividend
 
for the year ended
 
30 June 2020 of
 
R299.1 million. External
 
borrowings remained
at Rnil as at 30 September 2020 (30 June 2020: Rnil).
 
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
 
2021. Despite the
 
capital expenditure planned
for the
 
year, management
 
positions the
 
Company favourably
 
to, in
 
the absence
 
of unforeseen
 
events,
consider declaring an interim dividend in February 2021
 
.
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.
 
Johannesburg
27 October 2020
 
Sponsor
One Capital