<SEC-DOCUMENT>0001023512-20-000008.txt : 20200507
<SEC-HEADER>0001023512-20-000008.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200507065839
ACCESSION NUMBER:		0001023512-20-000008
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200507
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200507

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:		20854493

	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 May 2020</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 May 2020, 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 May 7, 2020, &#8220;OPERATING UPDATE
FOR THE QUARTER ENDED 31 MARCH 2020&#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>

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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;">&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:
May 7, 2020&#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; 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 31 MARCH 2020</font></b></p>

</div>


<p style="margin-bottom:10.0pt;margin-left:18.0pt;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 31 March 2020 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 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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">31 MAR 2020</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 style="font-size:11.0pt;line-height:normal;">31 DEC 2019</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 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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">1,346</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 style="font-size:11.0pt;line-height:normal;">1,544</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">43,274</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 style="font-size:11.0pt;line-height:normal;">49,641</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">1,462</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 style="font-size:11.0pt;line-height:normal;">1,514</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">47,004</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 style="font-size:11.0pt;line-height:normal;">48,677</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">6,560</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 style="font-size:11.0pt;line-height:normal;">6,828</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">0.205</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 style="font-size:11.0pt;line-height:normal;">0.226</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 style="font-size:11.0pt;line-height:normal;">-9%</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 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 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 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 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 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 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 lang=EN-ZA 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">785,581</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 style="font-size:11.0pt;line-height:normal;">697,879</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">1,590</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 style="font-size:11.0pt;line-height:normal;">1,477</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">389.3</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 style="font-size:11.0pt;line-height:normal;">329.8</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">25.4</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 style="font-size:11.0pt;line-height:normal;">22.5</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">101</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 style="font-size:11.0pt;line-height:normal;">100</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 style="font-size:11.0pt;line-height:normal;">1%</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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">489,193</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 style="font-size:11.0pt;line-height:normal;">460,634</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">990</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 style="font-size:11.0pt;line-height:normal;">975</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">577,633</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 style="font-size:11.0pt;line-height:normal;">508,124</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 style="font-size:11.0pt;line-height:normal;">14%</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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">1,169</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 style="font-size:11.0pt;line-height:normal;">1,075</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">588,235</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 style="font-size:11.0pt;line-height:normal;">511,889</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">1,229</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 style="font-size:11.0pt;line-height:normal;">1,118</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 style="font-size:11.0pt;line-height:normal;">10%</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 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 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 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 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 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 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 lang=EN-ZA 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">47.1</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 style="font-size:11.0pt;line-height:normal;">27.2</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 style="font-size:11.0pt;line-height:normal;">73%</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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">3.1</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 style="font-size:11.0pt;line-height:normal;">1.9</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 style="font-size:11.0pt;line-height:normal;">63%</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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">2.8</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 style="font-size:11.0pt;line-height:normal;">-</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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">0.2</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 style="font-size:11.0pt;line-height:normal;">-</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 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 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 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 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 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 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 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 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 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 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 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 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 style="font-size:11.0pt;line-height:normal;">15.37</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 style="font-size:11.0pt;line-height:normal;">14.70</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 style="font-size:11.0pt;line-height:normal;">5%</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%;">*
A</font><i><font face=Arial,sans-serif lang=EN style="font-size:9.0pt;line-height:115%;">djusted 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;) may not be comparable
to similarly titled measures of other companies. Adjusted EBITDA is not a
measure of performance under International Financial
Reporting Standards (IFRS)
and should be considered in addition to, and not as a substitute for, other
measures of financial performance and liquidity.</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>

<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_5"></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: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 reflected a 13% decrease quarter on quarter due primarily to a 9%
decrease in yield and a 4% decrease in tonnage throughput compared to the
previous quarter respectively, as the operations at Ergo Mining
Proprietary Limited (Ergo) and Far West Gold Recoveries (FWGR) were temporarily
halted towards the end of March 2020 as a result of the national lockdown
declared by the South African government in response to the COVID-19 pandemic
(&#8220;</font><b><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">Lockdown</font></b><font face=Arial,sans-serif lang=EN style="font-size:10.0pt;line-height:115%;">&#8221;). </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%;">Gold
sold reflected a mere 3% decrease quarter on quarter despite the 13% decrease
in gold produced as gold inventory was sold down in anticipation of the
Lockdown. As a result, the cash operating cost per kilogram of gold sold
increased by 6% compared to the previous quarter while the cash operating cost
per ton of material processed remained stable.</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: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 increased by 18% to R389.3 million for the
current quarter compared to R329.8 million for the previous quarter
despite the 3% decrease in gold sold, which was mainly due to the gold price
received which increased by 13%.</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 R577,633/kg and R588,235/kg, respectively, and
increased quarter on quarter mainly due to an increase in
capital expenditure.</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 by R1,291.0 million from R543.4 million for the
quarter ended 31 December 2019 to R1,834.4 million for the quarter ended 31
March 2020, mainly due to free cashflow (cash flows from operating activities
less cash flows from investing activities) of R422.8 million, the subscription
for shares by Sibanye-Stillwater Limited at an aggregate price of&#160; R1,085.6
million and payment of an interim cash dividend of R213.6 million. External
borrowings remained at Rnil as at 31 March 2020 (31 December 2019: Rnil). </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%;">The Company&#8217;s
previous gold production guidance for the year to 30 June 2020 was between
175,000 and 190,000 ounces. On 10 January 2020, DRDGOLD informed the market
that it was tracking the higher end of this production guidance. As a result of
the Lockdown and related interruptions in our business, and in anticipation of
continuing uncertainty surrounding the COVID-19 pandemic, DRDGOLD now expects
to track the lower end of the gold production guidance of 175,000 ounces.
DRDGOLD is, however, benefiting from the increase in the gold price which is
currently more than R1,000,000/kg.</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>
7 May 2020</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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