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OTHER INVESTMENTS (Tables) | 12 Months Ended
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Jun. 30, 2022
Other Investments [abstract] |
Investment in other entities | Amounts in R million Shares held 1 % held 1 2022 2021 Listed investments (Fair value hierarchy Level 1): West Wits Mining Limited (" WWM ") 47,812,500 2.4% 10.7 43.5 Total listed investments 10.7 43.5 Unlisted investments (Fair value hierarchy Level 3): Rand Refinery Proprietary Limited (" Rand Refinery ") 44,438 11.3% 136.1 119.3 Rand Mutual Assurance Company Limited B Share Business Fund (" RMA ") 2 12,659 2 1.3% 2 4.4 4.1 Guardrisk Insurance Company Limited (Cell Captive A170) 3 20 3 100.0% 3 0.1 0.1 Chamber of Mines Building Company Proprietary Limited 42,292 4.5% 0.1 0.1 Total unlisted investments 140.7 123.6 Balance at the end of the year 151.4 167.1 Fair value adjustment on equity instruments at fair value through OCI (15.7) (28.2) WWM (32.8) 31.5 Rand Refinery 16.8 (59.1) RMA 0.3 (0.6) Dividends received on equity instruments at fair value through OCI (71.5) (76.1) Rand Refinery (70.1) (72.3) RMA (1.4) (3.8) 1 The number and percentage shares held remained unchanged for the prior year with the exception of WWM that issued new shares thereby diluting DRDGOLD's effective shareholding from 3.5 % to 2.4 % 2 The "B Share Business Fund" shares relate to all the businesses of the RMA Group that do not relate to the Compensation for Occupational Injuries and Diseases Act 3 The shares held entitles the holder to 100 % of the residual net equity of Cell Captive A 170
Fair value of investments | Amounts in R million 2022 2021 Balance at the beginning of the year 119.3 178.4 Fair value adjustment on equity investments at fair value through other comprehensive income 16.8 (59.1) Balance at the end of the year 136.1 119.3
Key observable/unobservable inputs into the model | Amounts in R million Observable/unobservable input Unit 2022 2021 Rand Refinery operations Forecast average gold price Observable input R/kg 880,207 847,317 Forecast average silver price Observable input R/kg 11,209 11,751 Average South African CPI Observable input % 4.4 4.4 South African long-term government bond rate Observable input % 10.26 9.5 Terminal growth rate Unobservable input % 4.4 4.4 Weighted average cost of capital Unobservable input % 15.9 15.1 Investment in Prestige Bullion Discount period Unobservable input years 11 12 Cost of equity Unobservable input % 14.2 16.5
Sensitivity analysis | Input Change in OCI, net of tax Amounts in R million % Increase % Decrease % Increase % Decrease Rand Refinery operations Rand US Dollar exchange rate Observable inputs 1 (1) 3.3 (3.3) Commodity prices (Gold and silver) Observable inputs 1 (1) 2.8 (2.8) Operating costs Unobservable inputs 1 (1) (2.6) 2.6 Weighted average cost of capital Unobservable inputs 1 (1) (0.1) 0.1 Minority discount Unobservable inputs 1 (1) (1.2) 1.2 Marketability discount Unobservable inputs 1 (1) (1.2) 1.2 Investment in Prestige Bullion Cost of equity Unobservable inputs 1 (1) (1.0) 1.0 Prestige Bullion dividend forecast Unobservable inputs 1 (1) 0.3 (0.3)

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