https://www.engineeringnews.co.za

Lower gold price, production reduce DRDGold’s earnings

5th May 2021

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

Dual-listed DRDGold’s production decreased by 6% quarter-on-quarter to 1 382 kg in the quarter ended March 31.

In an operating update published on May 5, the company said this was despite a 3% increase in ore milled.

Yield was 9% lower quarter-on-quarter, while sales volumes decreased by 8% to 1 363 kg.

This led to a 3% increase in the cash operating cost per kilogram of gold sold, to R549 817/kg, compared with 532 480/kg in the previous quarter.

All-in sustaining costs were R645 488/kg and all-in costs were R654 072/kg, reflecting a quarter-on-quarter increase, which is mostly attributed to an increase in sustaining capital expenditure.

The 8% decrease in gold sold and 9% decrease in the average rand gold price received of R857 895/kg, contributed to an adjusted earnings before interest, taxes, depreciation and amortisation of R371.7-million, which was 35% lower quarter-on-quarter.

Cash and cash equivalents decreased by R3.7-million to R2 165.7-million as at the period-end.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 0.948s - 140pq - 2rq
Subscribe Now