<SEC-DOCUMENT>0001023512-19-000023.txt : 20191028
<SEC-HEADER>0001023512-19-000023.hdr.sgml : 20191028
<ACCEPTANCE-DATETIME>20191028091652
ACCESSION NUMBER:		0001023512-19-000023
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191028
FILED AS OF DATE:		20191028
DATE AS OF CHANGE:		20191028

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DRDGOLD LTD
		CENTRAL INDEX KEY:			0001023512
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35387
		FILM NUMBER:		191171430

	BUSINESS ADDRESS:	
		STREET 1:		45 EMPIRE ROAD
		STREET 2:		PARKTOWN
		CITY:			JOHANNESBURG
		STATE:			T3
		ZIP:			2193
		BUSINESS PHONE:		27113817800

	MAIL ADDRESS:	
		STREET 1:		PO BOX 390
		STREET 2:		MARAISBURG
		CITY:			JOHANNESBURG
		STATE:			T3
		ZIP:			1700

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DURBAN ROODEPOORT DEEP LTD
		DATE OF NAME CHANGE:	19960924
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>productionupdate.htm
<DESCRIPTION>6-K
<TEXT>

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Washington, D.C.
 20549</font></b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;"><br>
______________________</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">FORM 6-K</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">REPORT OF A FOREIGN PRIVATE ISSUER</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">PURSUANT TO RULE 13a-16 OR 15d-16</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">UNDER THE SECURITIES EXCHANGE ACT
OF 1934</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">For October 2019</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Commission File Number 0-28800</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">______________________</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">DRDGOLD Limited</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">1 Sixty Jan Smuts Building, 2<sup>nd</sup>
Floor-North Tower</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">160 Jan Smuts Avenue, Rosebank</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#160;South Africa, 2196</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">(</font><i><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Address of principal executive offices</font></i><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">)&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">______________________</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Form 20-F </font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#9745;&nbsp;</font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Form
40-F </font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">o&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">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.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Yes </font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">o&nbsp;</font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
No </font><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#9745;&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">If ''Yes'' is
marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b): N/A</font></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>




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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Attached to the Registrant Form 6-K filing
for the month of October 2019, incorporated</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0pt;margin-top:0cm;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">by
reference herein:</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-ZA style="font-size:12.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-indent:-36.0pt;"><b><u><font face="Times New Roman,serif" lang=EN-ZA style="font-size:12.0pt;line-height:115%;">Exhibit</font></u></b></p>

<p style="margin:0cm;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-ZA style="font-size:12.0pt;line-height:130%;">&#160;&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-ZA style="font-size:12.0pt;line-height:115%;">99.1&#160;&#160;&#160;&#160; Release
dated October 28, 2019, &#8220;OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER
2019 AND ROBBERY AND FATAL SHOOTING AT THE ERGO PLANT&#8221;
</font></p>

<p style="margin-bottom:10.0pt;margin-left:36.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;text-indent:-36.0pt;"><font face="Times New Roman,serif" lang=EN-ZA style="font-size:12.0pt;line-height:115%;">&nbsp;</font></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></b></p>




<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:115%;">&nbsp;</font></b></p>


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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


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<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">SIGNATURES</font></b></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">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.</font></p>

<p style="margin-bottom:10.0pt;margin-left:234.0pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:234.0pt;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">DRDGOLD
LIMITED</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Date:
October 28, 2019&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; By: </font><u><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">/s/ Riaan Davel</font></u></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Name:
Riaan Davel</font></p>

<p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Title:
Chief Financial Officer</font></p>

<p style="margin-bottom:10.0pt;margin-left:432.0pt;margin-right:0cm;margin-top:0cm;text-indent:-56.35pt;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:432.0pt;margin-right:0cm;margin-top:0cm;text-indent:-56.35pt;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:432.0pt;margin-right:0cm;margin-top:0cm;text-indent:-56.35pt;"><font face=Calibri,sans-serif lang=EN-GB style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>





<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_4"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

<DIV bclHeader>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:432.0pt;margin-right:0cm;margin-top:0cm;text-indent:-56.35pt;"><b><font face="Times New Roman,serif" lang=EN-GB style="font-size:12.0pt;line-height:normal;">Exhibit 99.1</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><b><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">DRDGOLD LIMITED</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">(Incorporated in the Republic of South Africa)</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">(Registration number 1895/000926/06)</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">ISIN: ZAE000058723</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">JSE share code: DRD</font></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">NYSE trading symbol: DRD</font></p>

<p align=center style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:center;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">(&#8220;</font><b><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">DRDGOLD</font></b><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">&#8221;
or the &#8220;</font><b><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">Company</font></b><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">&#8221;)&nbsp;</font></p>

<div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0cm 1.0pt 0cm;">

<p align=center style="border:none;margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;padding:0cm;text-align:center;"><b><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:normal;">OPERATING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2019 AND ROBBERY AND
FATAL SHOOTING AT THE ERGO PLANT</font></b></p>

</div>


<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">The operating update of the Company for the
quarter ended 30 September 2019 is as follows:</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Quarter ended</font></b></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Quarter ended</font></b></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><b><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">30-Sep-19</font></b></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><b><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">30-Jun-19</font></b></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">% change</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><u><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Production</font></u></b></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Gold produced</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,493</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,418</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">5%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">48,001</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">45,590</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">5%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Gold sold</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,510</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,429</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">6%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">48,547</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">45,943</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">6%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Ore milled</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Metric (000't) </font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">7,155</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">6,853</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">4%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Yield</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Metric (g/t)</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">0.209</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">0.207</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1%</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font face=Calibri,sans-serif style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
</table></div>



<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><u><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Price and costs</font></u></b></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Average gold price received</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">R per kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">696,368</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">603,755</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">15%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$ per oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,475</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,307</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">13%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Adjusted EBITDA *</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Rm</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">326.1</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">153.7</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">112%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$m</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">22.2</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">10.9</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">104%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Cash operating costs</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">R/t</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">97</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">99</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-2%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$/t</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">7</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">7</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Cash operating costs</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">R per kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">459,868</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">475,657</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-3%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$ per oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">974</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,030</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-5%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">All-in sustaining costs **</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">R per kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&#160;517,219
  <sup>&#160;1 &nbsp;</sup></font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">466,927</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">11%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$ per oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&#160;1,096
  <sup>&#160;1 &nbsp;</sup></font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,011</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">8%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">All-in cost **</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">R per kg</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&#160;528,344
  <sup>&#160;1 &nbsp;</sup></font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">484,315</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">9%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$ per oz</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&#160;1,155
  <sup>&#160;1 &nbsp;</sup></font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 4.25pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1,082</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">7%</font></p>
  </td>
 </tr>
<tr style="height:37.5pt;">
  <td nowrap valign=top width=4% style="height:37.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td colspan=6 valign=top width=96% style="height:37.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><sub><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1 All-in sustaining cost
  per kg and all-in cost per kg were disproportionately impacted by including a
  R41.1 million increase in the liability for the long-term incentive scheme
  while including gold production/sold for the first quarter only</font></sub></p>
  </td>
 </tr>
</table></div>



<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td nowrap valign=top width=4% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:15.0pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><b><u><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Capital expenditure</font></u></b></p>
  </td>
 <td nowrap valign=top width=3% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:15.0pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Sustaining</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Rm</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">5.5</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">5.9</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-7%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$m</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">0.4</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">0.4</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Non-sustaining/growth</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Rm</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">11.2</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">13.7</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-18%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">US$m</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">0.8</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">1.0</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">-20%</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:13.5pt;">
  <td nowrap valign=top width=4% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=33% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Average R/US$ exchange rate</font></p>
  </td>
 <td nowrap valign=top width=3% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=18% style="height:13.5pt;padding:0cm 0cm 0cm 0cm;">
  <p style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">14.68</font></p>
  </td>
 <td nowrap valign=top width=16% style="height:13.5pt;padding:0cm 5.75pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">14.37</font></p>
  </td>
 <td nowrap valign=top width=10% style="height:13.5pt;padding:0cm 2.0pt 0cm 2.0pt;">
  <p align=right style="margin-bottom:.0001pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:right;"><font color=black face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">2%</font></p>
  </td>
 </tr>
</table></div>



<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">Rounding
of figures may result in computational discrepancies</font></i></p>

<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">*
</font><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">The adjusted earnings before interest, taxes, depreciation
and amortisation (&quot;</font></i><b><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">Adjusted EBITDA</font></i></b><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">&quot;) (that was
considered from the quarter ended 30 June 2019 following the implementation of
the Revolving Credit Facility agreement) may not be comparable to similarly
titled measures of other companies. Adjusted EBITDA is not a measure of
performance under International Financial
Reporting Standards (&#8220;</font></i><b><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">IFRS</font></i></b><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">&#8221;)
and should be considered in addition to, and not as a substitute for, other
measures of financial performance and liquidity.</font></i></p>

<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>


<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_5"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">**
</font><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">All-in cost definitions based on the guidance note on non-GAAP Metrics
issued by the World Gold Council on 27 June 2013</font></i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">.&nbsp;</font></p>


<DIV bclFooter>


<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade STYLE="page-break-after: always" align="center" width="100%" size=2><a name="page_6"></a><DIV bclPageBorder STYLE="PADDING-TOP: 0in; PADDING-BOTTOM: 0in; WIDTH: 100%; PADDING-RIGHT: 0in; PADDING-LEFT: 0in">

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<p style="margin:0cm;margin-bottom:.0001pt;tab-stops:center 225.65pt right 451.3pt;"><font face=Calibri,sans-serif lang=EN-ZA style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Gold
production increased by 5% quarter on quarter primarily due to a 4% increase in
tonnage throughput as Far West Gold Recoveries Proprietary
Limited achieved the planned throughput of 500 000tpm
from Phase 1 during the quarter and successfully started
operating its mills at the beginning of September 2019. This
resulted in a 3% and 2% decrease in cash operating cost per kilogram of gold
sold and cash operating cost per ton of material processed respectively,
compared to the previous quarter.</font></p>

<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Overall
yield increased by 1% compared to the previous quarter due mostly to improved
head grade at Ergo Mining Proprietary Limited.</font></p>

<p style="margin-bottom:0cm;margin-left:18.0pt;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Adjusted
EBITDA more than doubled for
the quarter, due mainly to the 15% increase in gold price received and a 6%
increase in gold sold.</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">All-in
sustaining costs per kilogram and all-in costs per kilogram for the quarter
were 11% and 9% higher respectively, due to the positive impact of the change
in estimate of environmental rehabilitation recognised in profit or loss,
lowering the comparative unit costs of the previous quarter.</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Cash
and cash equivalents increased to R333.6 million as at 30 September 2019 (30
June 2019: R279.5 million), after paying a cash dividend of R136.4 million
(declared for the year ended 30 June 2019) and increasing working capital
lockup by R133.9 million for the quarter. External borrowings remained at Rnil
as at 30 September 2019 (30 June 2019: Rnil). The board of directors of the
Company (&#8220;</font><b><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">board</font></b><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&#8221;) will consider the payment of a dividend once the half
year results have been finalised.</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:18.0pt;margin-right:0cm;margin-top:12.0pt;text-align:justify;"><font face=Arial,sans-serif lang=EN-ZA style="font-size:10.0pt;line-height:115%;">On the
evening of Monday, 21 October 2019 an armed gang gained entry to the ERGO plant
at Brakpan, in the process fatally wounding Chief Security Officer Bart Coetzee
during an exchange of gun fire. The board extends its deepest condolences to Mr
Coetzee&#8217;s family, colleagues and friends. The gang escaped with a quantity of
calcine concentrate, estimated to contain up to 17kg of gold. A large part of
the gold containing concentrate was recovered by the South African Police
Service in the investigation following the incident.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">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&#8217;s auditors.</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:normal;">Johannesburg<br>
28 October 2019</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:10.0pt;margin-left:0cm;margin-right:0cm;margin-top:0cm;text-align:justify;"><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:normal;">Sponsor<br>
One Capital</font></p>




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