News Leader
WATCH: DRDGold’s plans for Joburg’s old dumps
Increased gold production and a reduction in cash operating costs boosted DRDGold’s annual results. The gold tailings retreatment specialist reported a 6% increase in revenue, while operating profit surged 38%, and headline earnings per share (HEPS) climbed to 1.7c. The group generated free cash flow of R93m and although its long-term strategy is to remain unhedged and keep borrowings to a minimum, the company has secured a R300m revolving credit facility to begin the first phase of Far West Gold Recoveries and to mitigate liquidity risk. CEO Niël Pretorius spoke to Business Day TV about the group’s full-year results.
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