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
”)
OPERATING UPDATE
FOR THE YEAR ENDED 30 JUNE 2020
Shareholders are
advised that
DRDGOLD produced
5,424 kilograms
(174,385 ounces)
of gold
from its
two
operations for the year ended
30 June 2020, representing a
year on year increase of
9% compared to the gold
production of 4,977 kilograms
for the year ended
30 June 2019. The
increase is mainly attributable
to a larger
contribution from Far West
Gold Recoveries. DRDGOLD had earlier
provided guidance of expected production
of between of 175,000
and 190,000 ounces, however,
interruptions to its operations
as a result of
the national
lockdown declared by the South African government in response to the COVID-19 pandemic caused production
to come in marginally below the estimated range.
The Company also expects cash operating costs per kilogram to be in line with its guidance of R490,000/kg.
DRDGOLD’s cash and cash equivalents as at 30 June 2020 was
R1,715.1 million, after paying a cash dividend
of R213.8 million in June 2020, and it remains free of bank debt as at 30 June 2020.
The information contained in this announcement does not constitute an earnings forecast. The financial
information provided
is the
responsibility of
the directors
of DRDGOLD,
and such
information has
not been
reviewed or reported on by the Company’s auditors.
Johannesburg
5 August 2020
Sponsor
One Capital