Surface gold treatment group DRDGold has rewarded shareholders with a 20c a share dividend, paid out of income reserves – despite a 48% drop in earnings per share.
DRDGold has halved its interim dividend after reporting a 48 per cent drop in group profit and higher input costs. Niel Pretorius, CEO at DRDGOLD joins CNBC Africa to drill into the numbers.
“We are pleased to report a strong finish, attributable mainly to an increase in gold recoveries and a higher average gold price compared to the first three months of the period,” said CEO Niël Pretorius.
JOHANNESBURG (miningweekly.com) – Surface gold recovery company DRDGold, which on Wednesday continued its uninterrupted 15-year run of dividend paying, highlighted its R100-milllion-plus half-year contribution to the fiscus in income tax as an important current underpin of social systems that are helping the country to avoid abject poverty.
Covid had limited impact on performance, though climate change is now noticeably affecting operations.
DRDGold is keen to move into other metals in order to align itself with the green metal strategy being implemented by Sibanye-Stillwater, its largest shareholder.
DRDGOLD Ltd (NYSE:DRD, JSE:DRD), the mine tailings retreatment specialist, has reported that increased operating costs and a fall in the Rand gold price hit its earnings in the six months to end-December, 2021.
DRDGOLD said headline interim share earnings will decline between 43% and 53% owing to a year-on-year decline in the rand gold price and lower volumes from its Ergo operation. The gold retreatment company said share earnings would be 52.5 and 63.6 cents a share for the six month period ended December 31 compared to headline earnings of 111 cents per share last year.
Aim-listed DRDGold expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between 52.5c and 63.6c for the six months ended December 31, which represents a decrease of 43% to 53% from the EPS and HEPS of 111c reported for the six months ended December 31, 2020.
DRDGold, SA’s biggest producer of gold from tailings dumps, expects headline profit to roughly halve in its six months to end-December, weighed down by lower selling prices and higher input costs, including chemicals.
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SMI - Swiss Mining Institute 2 November 2021 (PDF - 3.63MB)
Annual Integrated Report 2021 (PDF - 11.94 MB)