DRDGOLD to post 60-70% leap in interim share earnings

DRDGOLD said interim share earnings will be 60% to 70% higher year-on-year owing to a much higher rand gold price, up 26%.Interim headline share earnings would come in between 109.2 cents and 116.0c compared to 68.4c for the six months to end-December in 2023.Commenting in a trading statement on Thursday, the company also said production had increased marginally to 2,567 kilograms, about 89,845 ounces (2023: 2,535kg/88,725 oz).An increase in production from DRDGOLD’s Far West Recoveries helped offset initial low grade from its flagship Ergo property, east of Johannesburg.The company said it was on track for full year production guidance put at between 155,000 and 165,000 oz at a cash operating cost of about R870,000/kg.As at December 31, DRDGOLD held R661.2m in cash and cash equivalents down from R1.53bn at the close of the previous year’s interim period.In addition to the sky high gold price, up 40% in the last 12 months, DRDGOLD is also considering diversifying. In August the company said it planned to complete test work on tailings dams owned by Copper 360 around Okiep in the Northern Cape within nine months.DRDGold signed a memorandum of understanding in March last year with Copper 360 to carry out a due diligence on the company’s copper tailings dams which Copper 360 estimates contain some 50 million to 60 million tons of material with grades varying between 0.18% to 1.5% copper.The post DRDGOLD to post 60-70% leap in interim share earnings appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com