Exhibit 99.1
DRDGOLD LIMITED
(Incorporated in the Republic of South
Africa)
(Registration number:
1895/000926/06)
ISIN: ZAE000058723
JSE share code: DRD
NYSE trading symbol: DRD
(“
DRDGOLD
” or the “
Company
” or the “
Group
”)
TRADING STATEMENT AND TRADING UPDATE FOR THE YEAR ENDED 30 JUNE 2022
DRDGOLD
is
in
the
process
of
finalising
its
results
for
the
year
ended
30
June
2022
(“
”).
DRDGOLD’s production guidance
for the Current Reporting Period
was between 160 000 and 180
000 ounces of gold at
a
cash operating
cost
of R600 000/kg,
with planned
capital investment
of R600
million. For
the Current
Reporting Period,
DRDGOLD
produced
183 902
ounces
of
gold
at
a
cash
operating
cost
of
R600,875/kg,
with
a
capital
investment
of
R584.1 million.
In
terms
of
paragraph
3.4(b)
of
the
JSE
Limited
Listings
Requirements,
companies
are
required
to
publish
a
trading
statement as
soon
as they
are satisfied,
with a
reasonable degree
of
certainty,
that
the financial
results
for
the current
reporting period will differ by at least 20%
from the financial results of
the previous corresponding
period.
Shareholders are accordingly
advised that the Company has reasonable
certainty that it will report:
EPS
”) of between
114.4 cents
and 148.0 cents compared to
168.4 cents for the
year ended
30 June 2021 (“
Previous Corresponding Period
”), being a decrease of between
32% and 12%; and
-
headline earnings per
share (“
HEPS
”) of
between 113.6
cents and
147.2 cents
compared to
168.4 cents
for the
Previous Corresponding
Period, being a decrease of between
33% and 13%.
The
expected decreases
in EPS
and
HEPS for
the Current
Reporting Period
compared to
the
Previous Corresponding
Period are due mainly to movements
in,
inter alia
, the following items:
For the
reclamation operations owned and
managed by
DRDGOLD,
being Ergo
Mining Proprietary Limited
(“
Ergo
”) and
Far West Gold Recoveries Proprietary
Limited (“
FWGR
”), revenue decreased by R150.5
million, or 3%, to R5,118.5 million
(2021:
R5,269.0 million).
Ergo’s
revenue
decreased
by
R238.1
million,
or
6%,
to
R3,704.9
million
(2021: R3,943.0 million), due
mainly
to
a
3%
decrease in the Rand
gold price received
and a 3% decrease
in gold sold.
The decrease in gold
sold resulted from a
4%
decrease in volume throughput
offset by a 1% increase in yield.
FWGR’s
revenue
increased
by
R87.6
million,
or
7%,
to
R1,413.6
million
(2021:
R1,326.0
million)
due
mainly
to
a
9%
increase in gold sold.
The increase in gold sold resulted from an
8% increase in yield,
notwithstanding volume throughput
The impact
of the
decrease in
revenue on
earnings and
headline earnings was
further impacted
by an
increase in
cash
operating costs
of
R391.1 million,
or
13%, to
R3,463.8 million
(2021:
R3,072.7 million).
The
increases in
costs
at
both
operations were mainly caused
by above inflationary increases
in the costs of key consumables,
diesel, steel and cyanide.
At Ergo, cash operating costs increased
by R343.3 million, or 13%,
to R3,009.8 million (2021:
R2,666.5 million).
At FWGR, cash operating costs increased
by R47.8 million, or 12%, to
R454.0 million (2021: R406.2
million).
As at
30 June
2022, DRDGOLD’s
cash and
cash equivalents
was R2,525.6
million (2021:
R2,180.0 million),
with a
revolving
credit facility with
ABSA Bank
Limited of
R200 million, available
if needed. During
the Current Reporting
Period, DRDGOLD