3
Group usage of externally sourced potable water remained steady at 2,659Ml
compared to 2,656Ml in 2019, reflecting mainly the consumption of 2,497Ml by
Ergo. FWGR’s consumption of externally sourced potable water was 162Ml.
By year-end, applications in respect of 26.6 ha of land had been lodged with the
National Nuclear Regulator (NNR) for approval for redevelopment.
DIVIDEND
The DRDGOLD board of directors (“Board”) has declared a final cash dividend of
35 South African (“SA”) cents per ordinary share for the year ended 30 June 2020
as follows:
•
the dividend has been declared out of income reserves;
•
the local Dividend Withholding Tax rate is 20% (twenty per cent);
•
the gross local dividend amount is 35 SA cents per ordinary share for
shareholders exempt from Dividend Withholding Tax;
•
the net local dividend amount is 28 SA cents per ordinary share for shareholders
liable to pay Dividend Withholding Tax;
•
DRDGOLD currently has 864,588,711 ordinary shares in issue (which includes
9,474,920 treasury shares); and
•
DRDGOLD’s income tax reference number is 9160/013/60/4.
In compliance with the requirements of Strate Proprietary Limited (“Strate”) and
the JSE Limited Listings Requirements, given the Company’s primary listing on
the Johannesburg Stock Exchange (“JSE”), the salient dates for payment of the
dividend are as follows:
•
last date to trade ordinary shares cum-dividend: Monday, 21 September 2020;
•
ordinary shares trade ex-dividend: Tuesday, 22 September 2020;
•
record date: Friday, 25 September 2020; and
•
payment date: Monday, 28 September 2020.
On payment date, dividends due to holders of certificated securities on the
SA share register will either be electronically transferred to such shareholders’
bank accounts or, in the absence of suitable mandates, dividends will be held in
escrow by the Company until suitable mandates are received to electronically
transfer dividends to such shareholders.
Dividends in respect of dematerialised shareholdings will be credited to such
shareholders’ accounts with the relevant Central Securities Depository Participant
(CSDP) or broker.
To comply with the further requirements of Strate, between Tuesday,
22 September 2020 and Friday, 25 September 2020, both days inclusive, no
transfers between the SA share register and any other share register will be
permitted and no ordinary shares pertaining to the SA share register may be
dematerialised or rematerialised.
The currency conversion date for the Australian and United Kingdom share
registers will be Monday, 28 September 2020.
Holders of American Depositary Receipts (“ADRs”) should confirm dividend
details with the depository bank.
Assuming an exchange rate of R17.00/$1, the dividend payable on an ADR
is equivalent to 17 United States (“US”) cents for shareholders liable to pay
dividend withholding tax. However, the actual rate of payment will depend on the
exchange rate on the date for currency conversion.
LOOKING AHEAD
We are cognisant that the COVID-19 risk will remain with us for some time, and
its impact on business will need to be continually managed and reviewed. We
anticipate that this will come with larger social obligations and supplier risks, the
former requiring continuing support to our neighbouring communities.
Power storage will be another focus in the next year, seeing to it that our business
becomes more resilient in terms of both power supply and quality. We also plan to
expand our role in environmental clean-up, in the interest of supporting sustainable
land use and reduced pollution, the latter being our contribution to rolling back the
environmental legacy of mining.
Good progress has been made in advancing Phase 2 of FWGR and we are well into
the planning and permit application processes. In terms of other growth prospects,
the business seeks to play a bigger role in the Sibanye-Stillwater environmental
value proposition and to leverage the opportunities of other non-core surface assets
in that company’s portfolio.
In FY2021, we anticipate Group production of between 165,000 and 185,000
ounces at a cash operating cost of approximately R535,000/kg.
Niël Pretorius
Chief Executive Officer
1 September 2020
CONDENSED CONSOLIDATED
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Notes
Year ended
30 Jun 2020
Rm
Reviewed
Year ended
30 Jun 2019
Rm
Audited
Revenue
4,185.0
2,762.1
Cost of sales
(2,937.9)
(2,553.9)
Gross profit from operating activities
1,247.1
208.2
Other income
0.7
7.9
Administrative expenses and other costs
2
(309.9)
(90.9)
Results from operating activities
937.9
125.2
Finance income
7
109.8
58.3
Finance expenses
(68.8)
(78.4)
Profit before tax
978.9
105.1
Income tax
3
(343.9)
(26.6)
Profit for the year
635.0
78.5
Other comprehensive income
Items that will not be reclassified to
profit or loss, net of tax
Net fair value adjustment on equity
investments at fair value through other
comprehensive income
6
190.6
(5.9)
Total other comprehensive income
for the year
190.6
(5.9)
Total comprehensive income
for the year
825.6
72.6
Basic earnings per share
1
4
82.5
11.8
Diluted basic earnings per share
1
4
81.0
11.5
1
All per share financial information is presented in South African cents per share
(cps) and is rounded to the nearest one decimal point based on the results as
presented, which are rounded to the nearest million Rand
CONDENSED CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
Notes
Year ended
30 Jun 2020
Rm
Reviewed
Year ended
30 Jun 2019
Rm
Audited
Balance at the beginning of the year
2,688.6
1,267.3
Total comprehensive income
Profit for the year
635.0
78.5
Other comprehensive income
190.6
(5.9)
Transactions with the owners
of the parent
Issue of ordinary shares
7
1,085.6
–
Equity instruments issued as purchase
consideration for the acquisition of
Far West Gold Recoveries (“FWGR”)
–
1,349.3
Expenses incurred on issue of
ordinary shares
(0.5)
(0.3)
Treasury shares acquired through
subsidiary
–
(0.3)
Dividend on ordinary share capital
(565.1)
–
Equity-settled share-based payment
2
6.0
–
Balance at the end of the year
4,040.2
2,688.6
These condensed consolidated financial statements for the year ended 30 June
2020 were reviewed by DRDGOLD’s auditors and have been prepared under
the supervision of DRDGOLD’s Chief Financial Officer, Mr AJ Davel CA(SA).
The condensed consolidated financial statements were authorised by the
directors on 25 August 2020 for issue on 1 September 2020
The accompanying notes are an integral part of the condensed consolidated
financial statements.
