<SEC-DOCUMENT>0001023512-24-000002.txt : 20240209
<SEC-HEADER>0001023512-24-000002.hdr.sgml : 20240209
<ACCEPTANCE-DATETIME>20240209060244
ACCESSION NUMBER:		0001023512-24-000002
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240209
DATE AS OF CHANGE:		20240209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DRDGOLD LTD
		CENTRAL INDEX KEY:			0001023512
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35387
		FILM NUMBER:		24610985

	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>tradingstatementq2_2024.htm
<DESCRIPTION>6-K
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="if573d45864e347bd87ef7764d25a0d17_1"></div><div style="min-height:48.96pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Washington, D.C. 20549</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"><br>______________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">FORM 6-K</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">REPORT OF A FOREIGN PRIVATE ISSUER</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">February 6, 2024</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Commission File Number 0-28800</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">______________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">DRDGOLD Limited</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Constantia Office Park</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Cnr 14th Avenue and Hendrik Potgieter Road</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Cycad House, Building 17, Ground Floor</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Weltevreden Park 1709</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">Address of principal executive offices</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">______________________</font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Form 20-F </font><font style="font-family:'Wingdings',sans-serif;font-size:12pt;font-weight:400;line-height:100%"></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">           Form 40-F </font><font style="font-family:'Wingdings',sans-serif;font-size:12pt;font-weight:400;line-height:100%"></font></div><div><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font><br></font></div><div style="margin-bottom:10pt;text-align:center"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160; </font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:48.96pt;width:100%"><div><font><br></font></div></div><div style="padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:133%;text-decoration:underline">Exhibit</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:151%"> </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">99.1&#160;&#160;&#160;&#160;Release dated February 6, 2024 &#8220;VOLUNTARY TRADING STATEMENT AND TRADING UPDATE FOR THE SIX MONTHS ENDED 31 DECEMBER 2023&#8221; </font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:48.96pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">SIGNATURES</font></div><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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></div><div style="margin-bottom:10pt;padding-left:234pt"><font><br></font></div><div style="margin-bottom:10pt;padding-left:234pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">DRDGOLD LIMITED</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Date&#58; February 6</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">, 2024</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;By&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Riaan Davel</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Name&#58; Riaan Davel</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Title&#58; Chief Financial Officer</font></div><div style="margin-bottom:10pt;padding-left:432pt;text-indent:-56.35pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="margin-bottom:10pt;padding-left:432pt;text-indent:-56.35pt"><font><br></font></div><div style="margin-bottom:10pt;padding-left:432pt;text-indent:-56.35pt"><font><br></font></div><div style="padding-left:432pt;text-indent:-56.35pt"><font><br></font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:48.96pt;width:100%"><div><font><br></font></div></div><div style="padding-left:432pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Exhibit 99.1</font></div><div id="if573d45864e347bd87ef7764d25a0d17_32"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">DRDGOLD LIMITED</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(Incorporated in the Republic of South Africa)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(Registration number&#58; 1895&#47;000926&#47;06)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">ISIN&#58; ZAE000058723</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">JSE &#38; A2X share code&#58; DRD</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">NYSE trading symbol&#58; DRD</font></div><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">DRDGOLD</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Company</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Group</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;)</font></div><div style="margin-bottom:0.1pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;VOLUNTARY TRADING STATEMENT AND TRADING UPDATE FOR THE SIX MONTHS ENDED </font></div><div style="margin-bottom:0.1pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">31 DECEMBER 2023</font></div></td></tr></table></div><div style="margin-bottom:1pt;margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"><br>DRDGOLD is in the process of finalising its results for the six months ended 31 December 2023 (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Current Reporting Period</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) and shareholders are accordingly advised that the Company has reasonable certainty that for the Current Reporting Period it will report earnings per share (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">EPS</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) and headline earnings per share (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">HEPS</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) of between 65.3 cents and 71.5 cents compared to EPS and HEPS of 62.3 cents for the six months ended 31 December 2022 (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Previous Corresponding Period</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;), being an increase of between 5% and 15%.</font></div><div style="margin-bottom:0.1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.1pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The expected increase in EPS and HEPS, respectively, for the Current Reporting Period compared to the Previous Corresponding Period, are primarily due to movements in, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:133%">inter alia</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">, the following items&#58;</font></div><div style="margin-bottom:10pt;margin-top:12pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Revenue</font></div><div style="text-align:justify;text-indent:14.15pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Group revenue increased by R319.9 million, or 12%, to R2,974.2 million (2022&#58; R2,654.3 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Ergo Mining Proprietary Limited&#8217;s (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Ergo</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) revenue increased by R234.5 million to R2,193.0 million (2022&#58; R1,958.5 million), mainly due to a 22% increase in the Rand gold price received. Gold sold decreased by 8% from 2,040kg in 2022 to 1,872kg as a result of a decrease in throughput tonnages from 9.8Mt in 2022 to 8.1Mt, due to ongoing delays in the regulatory approval for 4L3 and community interference in respect of 5L27, and Ergo having to rely on legacy and clean-up sites to make up tonnes. The impact of the decrease in throughput tonnage was offset by a 15% increase in yield to 0.233g&#47;t from 0.203g&#47;t in 2022. The water usage license for 4L3 was received on 18 January 2024, while the construction of the pipe-column to 5L27 was completed late January 2024.</font></div><div style="margin-bottom:0.1pt;padding-left:0.36pt;text-align:justify"><font><br></font></div><div style="padding-left:14.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Far West Gold Recoveries Proprietary Limited's (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">FWGR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) revenue increased by R85.4 million to        R781.2 million (2022&#58; R695.8&#160;million). The 22% increase in the Rand gold price received was offset by an 8% decrease in gold sold to 663kg (2022&#58; 722kg). The decrease in gold sold was as a result of a lower head grade from the new Driefontein 3 site than that of the depleted Driefontein 5 site, resulting in a 12% decrease in yield from 0.245g&#47;t in 2022 to 0.215g&#47;t.</font></div><div style="margin-bottom:10pt;margin-top:12pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">2.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Cash operating costs</font></div><div style="padding-left:14.15pt;text-align:justify;text-indent:-0.01pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The impact of the increase in revenue on earnings and headline earnings was moderated by an increase in Group cash operating costs of R257.5 million, or 14%, to R2,097.1 million (2022&#58;&#160;R1,839.5&#160;million). </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:14.15pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At Ergo, cash operating costs increased by R197.8 million, or 12%, to R1,792.0 million           (2022&#58;&#160;R1,594.2 million) due to double digit increases in machine hire costs and contract reclamation costs driven by the reclamation of remnant material on legacy and clean-up sites and increased diesel prices.</font></div><div style="margin-bottom:0.1pt;padding-left:0.36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.1pt;padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At FWGR, cash operating costs increased by R59.8 million, or 24%, to R305.1 million (2022&#58; R245.3 million) due to increases mainly in reagent usage, in particular lime and steel balls in response to the increased acidity and coarser material reclaimed from Driefontein 3. Electricity costs have also increased as a result of the reclamation of Driefontein 3 and the installation of a high shear agitator at the Driefontein 2 Plant to </font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:48.96pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:0.1pt;padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">release more gold. Machine hire costs were higher due to the continued clean-up of Driefontein 5 and increased diesel prices.</font></div><div style="margin-bottom:10pt;margin-top:12pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">3.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Capital expenditure</font></div><div style="margin-bottom:0.1pt;padding-left:14.2pt;text-align:justify;text-indent:-0.01pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Cash expenditure on capital projects increased by R687.4 million, or 177%, to R1,074.7 million (2022&#58; R387.3 million). The significant increase was due to the establishment of the solar power plant at Ergo which is scheduled for substantial completion in March 2024, with battery storage facilities scheduled to be completed by October 2024.  </font></div><div style="margin-bottom:0.1pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Liquidity</font></div><div style="padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">As at </font><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">31 December 2023</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">, DRDGOLD held R1,529.4 million in cash and cash equivalents compared to R2,392.2 million as at 31 December 2022 (30 June 2023&#58; R2,471.4 million). During the Current Reporting Period, DRDGOLD had a free cash outflow (cash inflow from operating activities less cash outflow from investing activities) of R370.8 million (2022&#58; free cash inflow of R215.4 million) after a R685.7 million increase to R1,107.2&#160;million in investing activities (2022&#58; R421.5 million) and paying cash dividends of R559.4 million (2022&#58; R342.5&#160;million). </font><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Group remains free of any bank debt as at 31 December 2023 (30 June </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">2023</font><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#58; Rnil).</font></div><div style="margin-bottom:0.1pt;text-align:justify;text-indent:3.8pt"><font><br></font></div><div style="margin-bottom:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">5.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Production and cash operating cost per unit guidance</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-0.01pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In the Company&#8217;s 2023 integrated annual report, published on 30 October 2023, the Company issued a production guidance for the year ended 30 June 2024 of between 165,000 ounces and 175,000 ounces. With the new reclamation sites now in operation at Ergo, DRDGOLD expects to remain within range, albeit to the lower end. Although we expect the cost pressures experienced in the first half of the financial year to ease going forward, the Group has increased its cash operating unit cost guidance from R770,000&#47;kg to R800,000&#47;kg.  </font></div><div style="margin-bottom:0.1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">6.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%;padding-left:5.87pt">Capital projects</font></div><div style="margin-bottom:0.1pt;padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At Ergo, the construction of the solar power plant remains on track with 14MW currently being drawn by the Ergo plant. </font></div><div style="margin-bottom:0.1pt;padding-left:0.36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.1pt;padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Specialist studies required for the environmental and water use license authorisation for the expansion of the Brakpan&#47;Withok Tailings Storage Facility are ongoing, and we expect the design to be submitted to the Department of Water and Sanitation by the end of the 2024 financial year.</font></div><div style="margin-bottom:0.1pt;padding-left:0.36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.1pt;padding-left:13.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At FWGR, Phase II, to double the capacity at the Driefontein 2 Plant and build the 800 million tonne Regional Tailings Storage Facility (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%">RTSF</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8221;) is underway, and DRDGOLD expects the regulatory approvals required to commence construction of the RTSF to be imminent.  </font></div><div style="margin-bottom:0.1pt;padding-left:0.36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"><br>The financial information contained in this announcement 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></div><div style="margin-bottom:10pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">T</font><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">he condensed consolidated unaudited interim results </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">for the six months ended 31 December 2023</font><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> are expected to be published on SENS on or about Wednesday, 14 February 2024.</font></div><div style="margin-bottom:10pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Johannesburg</font></div><div style="margin-bottom:10pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">6 February 2024</font></div><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"><br></font></div><div style="margin-bottom:0.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Sponsor<br>One Capital</font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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