Higher gold production pushed DRDGold firmly into an interim profit, marking a turn in the company’s fortunes as it embarks on a big growth project with Sibanye-Stillwater. In a brief note on Sens, DRDGold, a specialist in extracting gold from old tailings dumps around Johannesburg, said its earnings per share would be 14.16c-14.64c for the six months to end-December compared with 0.6c per share before. An 11% increase in gold production compared with the same six months a year earlier offset a 4% decline in the rand price DRDGold achieved for its sales. A year earlier, the company produced 67,508oz of gold for an all-in sustaining cost of R490,531/kg. Headline earnings per share shot up to 14.06c-14.54c per share compared with a headline loss of 2.4c per share. DRDGold said full-year production would be 147,000oz-153,000oz at a cash operating cost of about R475,000/kg. DRDGold produced 137,114oz during its 2017 financial year to end-June at a cost of R489,549/kg. Its all-in sustain...
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