[SEC Filing Information](index=1&type=section&id=SEC%20Filing%20Information) This section details the Form 6-K filing by DRDGOLD Limited, including its purpose as a foreign private issuer report and official signatures [Filing Details](index=1&type=section&id=Filing%20Details) This section identifies the document as a Form 6-K report filed by DRDGOLD Limited with the SEC, indicating its purpose as a report of a foreign private issuer - The document is a **Form 6-K report** filed by DRDGOLD Limited on **February 18, 2025**, as a report of a foreign private issuer[1](index=1&type=chunk)[2](index=2&type=chunk) [Signatures](index=4&type=section&id=Signatures) This section confirms the official signing of the Form 6-K report by DRDGOLD Limited's Chief Financial Officer, Riaan Davel, on February 18, 2025 - The report was signed on behalf of DRDGOLD Limited by **Riaan Davel, Chief Financial Officer**, on **February 18, 2025**[6](index=6&type=chunk)[7](index=7&type=chunk)[8](index=8&type=chunk) [Interim Financial Results and Dividend Declaration](index=5&type=section&id=Interim%20Financial%20Results%20and%20Dividend%20Declaration) This section presents DRDGOLD Limited's unaudited interim financial results for H2 2024, highlighting significant growth and the declaration of an interim cash dividend [Introduction and Report Overview](index=5&type=section&id=Introduction%20and%20Report%20Overview) This section introduces DRDGOLD Limited's condensed consolidated unaudited interim results for the six months ended December 31, 2024, and the associated cash dividend declaration - DRDGOLD Limited announced its condensed consolidated unaudited interim results for the **six months ended December 31, 2024**, along with a cash dividend declaration[9](index=9&type=chunk) - Full results are available through the JSE cloudlink and on the Company's website[10](index=10&type=chunk) [Key Financial Results Summary](index=5&type=section&id=Key%20Financial%20Results%20Summary) DRDGOLD Limited reported **28% revenue growth** and a **74% increase in operating profit** for the six months ended December 31, 2024, with **EPS and HEPS rising by 65%** Key Financial Results Summary (Six months ended 31 December) | Metric | Dec 2024 (ZAR million / SA cents per share) | Dec 2023 (ZAR million / SA cents per share) | % Change | | :--------------------------------- | :---------------------------------------- | :---------------------------------------- | :------- | | Revenue | 3,802.3 | 2,974.2 | 28 | | Operating profit | 1,578.7 | 909.3 | 74 | | Earnings per share | 112.6 | 68.4 | 65 | | Headline earnings per share | 112.6 | 68.4 | 65 | | Interim dividend | 30 | 20 | 50 | [Cash Dividend Declaration](index=5&type=section&id=Cash%20Dividend%20Declaration) The Board declared an interim cash dividend of **30 SA cents per share**, a **50% year-over-year increase**, detailing tax implications, payment procedures, and key dates for shareholders [Dividend Specifics and Tax Information](index=5&type=section&id=Dividend%20Specifics%20and%20Tax%20Information) The interim cash dividend for the six months ended December 31, 2024, is **30 SA cents per share**, declared out of income reserves, subject to a **20% local Dividend Withholding Tax** - An interim cash dividend of **30 SA cents per share** was declared for the six months ended December 31, 2024, representing a **50% increase** from the previous year[11](index=11&type=chunk)[12](index=12&type=chunk) - The dividend is declared out of income reserves and is subject to a **20% local Dividend Withholding Tax**[12](index=12&type=chunk) - The gross local dividend is **30 SA cents per share**, and the net local dividend is **24 SA cents per share** for shareholders liable to pay Dividend Withholding Tax[12](index=12&type=chunk) - DRDGOLD currently has **864,588,711 ordinary shares** in issue[12](index=12&type=chunk) [Dividend Payment Procedures and Salient Dates](index=7&type=section&id=Dividend%20Payment%20Procedures%20and%20Salient%20Dates) This section outlines dividend payment procedures, including electronic transfers and account crediting, and specifies a restricted period for share transfers and dematerialisation/rematerialisation - Dividends for certificated ordinary shares on the SA share register will be electronically transferred to bank accounts or held in escrow if suitable mandates are not received[13](index=13&type=chunk) - Dividends for dematerialised shareholdings will be credited to accounts with the relevant Central Securities Depository Participant (CSDP) or broker[14](index=14&type=chunk) - No transfers between the SA share register and any other share register, or dematerialisation/rematerialisation, will be permitted between **Wednesday, March 12, 2025**, and **Friday, March 14, 2025**[14](index=14&type=chunk) Salient Dates for Dividend Payment | Event | Date | | :---------------------------------- | :---------------- | | Last date to trade ordinary shares cum-dividend | Tuesday, 11 March 2025 | | Ordinary shares trade ex-dividend | Wednesday, 12 March 2025 | | Record date | Friday, 14 March 2025 | | Payment date | Monday, 17 March 2025 | [ADR Dividend Information](index=7&type=section&id=ADR%20Dividend%20Information) ADR holders should confirm dividend details with the depository bank, as the information is tentative and subject to the exchange rate on the currency conversion date - ADR holders should confirm dividend details with the depository bank, as ADR information is tentative and subject to confirmation[15](index=15&type=chunk)[16](index=16&type=chunk) - Assuming an exchange rate of **R18.50/$1**, the net dividend payable on an ADR is equivalent to **13 United States cents per share** for ADR holders liable to pay Dividend Withholding Tax[16](index=16&type=chunk) - The actual rate of payment for ADRs will depend on the exchange rate on the date for currency conversion[16](index=16&type=chunk) [Corporate and Contact Information](index=7&type=section&id=Corporate%20and%20Contact%20Information) This section lists DRDGOLD's Board of Directors, Company Secretary, and provides contact details for Media and Investor Relations, the company's website, registered office, and sponsor - The Board of Directors includes executives **DJ (Niël) Pretorius (CEO)** and **AJ (Riaan) Davel (CFO)**, alongside various non-executive directors[17](index=17&type=chunk) - **K Mbanyele** serves as the Company Secretary[17](index=17&type=chunk) - Media and Investor Relations contact is **Jane Kamau**, and the company's website is **www.drdgold.com**[17](index=17&type=chunk)[19](index=19&type=chunk) - The registered office is located in **Weltevreden Park, South Africa**, and **One Capital** is the sponsor[19](index=19&type=chunk)

DRDGOLD (DRD) H1 2025 Earnings Call February 18, 2025 03:00 AM ET Company Participants Niël Pretorius - CEO & Executive DirectorRiaan Davel - CFO & Executive DirectorJaco Schoeman - COO Niël Pretorius Good morning, everyone. Thank you very much for joining us. With me on the panel today is Rehan Dahlpe, Dolfel, our CFO and Jocos Kumman, our COO. We're going to take you through the presentation and then we'll have a short video. And afterwards, we're happy to take your questions. We are doing this webinar fr ...

Core Viewpoint - DRDGOLD has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to significant buying or selling activity that affects stock prices [3]. Company Performance and Outlook - The upgrade for DRDGOLD reflects an improvement in the company's underlying business, with rising earnings estimates expected to drive the stock price higher [4][9]. - DRDGOLD is projected to earn $0.89 per share for the fiscal year ending June 2025, representing an 8.5% year-over-year increase [7]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [6][8]. - DRDGOLD's upgrade places it in the top 5% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [9].

Group 1 - DRDGOLD Limited is participating in the 121 Mining Investment Conference in Dubai, presenting recent and future activities [1] - The conference will host over 40 mining companies and more than 150 sophisticated investors for targeted 1-2-1 meetings [1][2] - The event is scheduled for November 19-20, 2024 [3] Group 2 - The 121 Mining Investment series connects institutional fund managers, private equity groups, and family offices with mining company management for private meetings [5] - The event series has a global presence, covering locations such as London, New York, Cape Town, Dubai, and Singapore [5] Group 3 - DRDGOLD Limited specializes in reclaiming surface gold resources and utilizes technology to produce gold while rehabilitating land for social and industrial development [6] - The company aligns its operations with "Green Mining" principles, focusing on profitability and value creation for stakeholders [6]

Company Participation - DRDGOLD is participating in the 121 Mining Investment Conference in London, where Niël Pretorius will present the company's recent and future activities [1] - The conference will host over 150 mining companies and more than 500 investors for targeted 1-2-1 meetings [1][2] Conference Details - The event is scheduled for November 14-15, 2024, and includes a curated schedule of pre-booked meetings and expert commentary on industry developments [2] - Investors can register for a free pass to attend the conference [2] Industry Context - 121 Mining Investment connects portfolio managers and analysts from institutional funds, private equity groups, and family offices with mining company management teams for private meetings [2][3] - The global event series has expanded to cover locations including London, New York, Cape Town, Dubai, and Singapore, along with online editions throughout the year [3] Company Overview - DRDGOLD Limited is a South African leader in reclaiming surface gold resources (tailings) and utilizes technology to produce gold while rehabilitating land for social and industrial development [4]

Financial Performance - Revenue increased by 14% to R6,239.7 million, driven by a higher average Rand gold price received[19] - Operating profit rose by 14% to R2,081.3 million, reflecting improved operational efficiency[19] - Headline earnings per share increased by 4% to 154.1 cents per share, indicating stable profitability[19] - Cash operating costs increased by 20% to R833,536 per kg, impacting overall cost management[19] - All-in sustaining costs margin was reported at 24%, highlighting the cost pressures faced[19] - Income tax expense decreased significantly by 77% to R72.5 million, indicating improved tax efficiency[19] - The company achieved 93% of its planned gold output despite missing its volume throughput target by 17%[25] - The all-in sustaining costs margin increased by 18% year-on-year[25] - Free cash flows generated were R(1,197.4 million), a decline from R469.1 million in FY2023[78] - Market capitalization as of June 30, 2024, was R13.6 billion, a decrease from R17 billion in FY2023[78] Production and Capacity - Gold production decreased by 5% to 5,002 kg, with volume throughput also down by 3% to 22.3 million tonnes[19] - The company processed 18% more tonnes of slurry and produced 20% more kilograms of gold compared to the previous year[25] - The company aims to increase combined throughput capacity from 2.15 million tonnes to 3 million tonnes per month, and gold production capacity from 5.3 tonnes to approximately 6.3 tonnes per year[29] - The company produced 5,002 kg of gold, generating revenue of R6,239.7 million, an increase from R5,496.3 million in FY2023[76] - Monthly throughput capacity is targeted to reach 2.15 million tonnes in the short term, with an annual gold production goal of 5.0 tonnes[149] - DRDGOLD aims to achieve an annual gold production of 6.3 tonnes by FY2028, up from the current production levels, with a combined monthly throughput target of 3 million tonnes[118] Capital Investment and Expenditure - The total capital investment required for Vision 2028 is estimated at approximately R10 billion over the next four years[29] - A R2 billion facility has been secured with Nedbank Limited to support operational cash flows and project financing[29] - Capital expenditure in FY2024 was R2,985.7 million, significantly higher than R1,145.2 million in FY2023[63] - A total capital investment of R3.5 billion was made during the year[128] - The total capital investment required for the strategic plan is estimated at approximately R10 billion over four years, primarily funded from internal sources[118] Safety and Environmental Impact - Fatality rate recorded at one, with a lost time injury frequency rate of 1.15, emphasizing safety performance[19] - The company emitted 325,607 tonnes of CO2 equivalent, a reduction from 368,000 tonnes in FY2023[76] - The company is focused on reducing carbon emissions and electricity costs through renewable energy alternatives[149] - The company aims to reduce potable water consumption to 10% or lower of total water usage[133] - DRDGOLD aims to reverse the environmental legacy of mining, focusing on responsible tailings management and energy efficiency[159] Dividends and Shareholder Returns - Dividend declared per share was 40 cents, maintaining a 17-year uninterrupted dividend declaration record[19] - Dividends declared for FY2024 were 40 cents per share, down from 85 cents per share in FY2023[78] - The company has maintained a dividend record of 17 consecutive years while managing its balance sheet conservatively[29] Strategic Initiatives and Future Plans - The company is developing a 60MW solar PV facility with a 160MWh battery energy storage system, expected to be completed by October 2024[79] - The company aims to process 3 million tonnes of material per month by FY2028, enhancing its reclamation and deposition capacity[62] - DRDGOLD's strategic plan includes expanding its operations to include PGMs and battery metals, aiming to replicate its successful business model[118] - The company is implementing a new mega tailings storage facility (TSF) to consolidate regional TSFs and ensure compliance with world-class standards[118] Risk Management and Compliance - DRDGOLD's risk management strategy is guided by an Enterprise Risk Management Framework, focusing on minimizing threats and maximizing opportunities[176] - The company has identified its top strategic risks, including limited deposit facilities and climate change impacts, with a focus on proactive risk management[188] - Cybersecurity threats have increased in ranking to 6, indicating a growing concern for the company despite existing robust controls[194] - The company emphasizes a strong risk culture, encouraging employees to take ownership of risk management within their areas of responsibility[185] Community and Socio-Economic Development - The company emphasizes socio-economic development through community engagement and employment initiatives[160] - DRDGOLD aims to create self-sustainable communities by providing skills development in entrepreneurship[161] - The company is committed to sustainable development, with ongoing efforts to reduce its environmental footprint and enhance community quality of life[113]

Revenue and Production - Revenue increased by 14% to R6,239.7 million in fiscal year 2024 from R5,496.3 million in fiscal year 2023, primarily due to a 20% increase in the average rand gold price received[337]. - Gold production decreased to 160,818 ounces in fiscal year 2024 from 169,820 ounces in fiscal year 2023, reflecting a decline in gold sold from 5,273 kilograms to 4,989 kilograms[336]. - Gold revenue increased by R740.0 million, or 13%, to R6,229.7 million in fiscal year 2024, driven by a 20% increase in average gold price to R1,248,679 per kilogram, despite a decrease in gold sold from 169,531 ounces to 160,400 ounces[360]. - Gold produced in the quarter ended September 30, 2024, was 1,319 kg, a 7% increase from 1,228 kg in the previous quarter[399]. - Gold production rose by 7% to 1,319 kg, driven by a 13% increase in tonnage throughput[403]. Costs and Expenditures - Cash operating costs per kilogram increased to R833,536 in fiscal year 2024 from R697,382 in fiscal year 2023, indicating rising operational costs[336]. - Cost of sales rose to R4,429.9 million in fiscal year 2024, with operating costs increasing by 13% to R4,206.0 million, primarily due to higher contract reclamation and machine hire costs[361]. - Consolidated cash operating costs per kilogram increased by 20% to R833,536 per kilogram in fiscal year 2024 from R697,382 per kilogram in fiscal year 2023[375]. - All-in sustaining costs per kilogram rose by 14% to R946,848 per kilogram in fiscal year 2024 from R827,148 per kilogram in fiscal year 2023[375]. - All-in costs per kilogram surged by 61% to R1,509,040 per kilogram in fiscal year 2024 from R937,525 per kilogram in fiscal year 2023[375]. - Cash operating costs for fiscal year 2024 increased by R505.2 million to R4,193.3 million compared to R3,688.1 million in fiscal year 2023[381]. - Cash operating costs per kilogram of gold sold decreased by 4% to R856,723/kg due to increased gold sold[404]. - Non-sustaining capital expenditure increased significantly from R554.6 million in fiscal year 2023 to R2,789.1 million in fiscal year 2024, related to the construction of a solar power plant[378]. - Non-sustaining capital expenditure decreased by 86% to R275.6 million compared to the previous quarter[402]. Financial Performance - The average gold price received increased to R1,248,679 per kilogram in fiscal year 2024, compared to R1,041,102 per kilogram in fiscal year 2023[336]. - The adjusted EBITDA for the quarter ended September 30, 2024, was R680.8 million, compared to R583.8 million in the previous quarter[400]. - Adjusted EBITDA increased by 17% to R680.8 million, attributed to higher gold sold and increased gold price received[406]. - Finance income decreased to R280.8 million in fiscal year 2024 from R334.3 million in fiscal year 2023, mainly due to lower cash and cash equivalents[367]. - Cash generated from operating activities amounted to R1,845.2 million for fiscal year 2024, up from R1,655.6 million in fiscal year 2023, primarily due to a 20% increase in the average rand gold price received[383][384]. Regulatory and Environmental Factors - The company faced regulatory challenges in South Africa, impacting the execution of key capital projects due to slow permit and approval processes[334]. - The total environmental rehabilitation provision increased to R616.8 million as of June 30, 2024, from R562.1 million at June 30, 2023[363]. - The company is focusing on sustainability and compliance with increasing ESG standards, which may affect future operational strategies[334]. Future Outlook - For fiscal year 2025, the company plans gold production of between 155,000 (4,821 kg) to 165,000 (5,132 kg) ounces at a cash operating unit cost of approximately R870,000 per kilogram[395]. - The anticipated capital investment for fiscal year 2025 is approximately R3.5 billion, focusing on RTSF, DP2 expansion at FWGR, and a solar power project at Ergo[393]. - The solar power plant and battery energy storage system are expected to be fully commissioned in the second quarter of fiscal year 2025, contributing to further cost reductions[404]. Cash Flow and Liquidity - Net cash utilized by investing activities rose significantly to R3,042.6 million in fiscal year 2024 from R1,186.5 million in fiscal year 2023, mainly for cash additions to property, plant, and equipment[386][387]. - Net cash outflow from financing activities was R750.7 million in fiscal year 2024, compared to R532.2 million in fiscal year 2023, largely due to dividends paid on ordinary shares[389]. - Cash and cash equivalents as of June 30, 2024, decreased to R521.5 million from R2,471.4 million at the end of fiscal year 2023[390]. - Cash and cash equivalents rose by R72.7 million to R594.2 million as of September 30, 2024[406]. Exchange Rates and Inflation - The average rand/dollar exchange rate weakened by 5% in fiscal year 2024, while the Consumer Price Index (CPI) inflation rate was recorded at 5.1%[333]. - The average R/US$ exchange rate improved by 3% to 17.97[402].

Core Points - DRD Law Group has been awarded the 2024 Martindale-Hubbell Peer Distinguished Rating, recognizing its excellence in criminal defense law and high ethical standards [1][3][4] - The Martindale-Hubbell Peer Distinguished Rating is a prestigious honor given to experienced attorneys respected by their peers for professional achievement and ethical standards [2][5] - The recognition reflects the respect DRD Law has earned from the community and its peers over the years, validating the firm's commitment to exceptional legal service [3][6] Company Overview - DRD Law Group, also known as DRD Criminal Defense & DUI Law, emphasizes its core mission of providing clients with exceptional legal service, integrity, and professionalism [4][6] - Founded in 1868, Martindale-Hubbell is a reputable attorney rating organization that helps the public make informed decisions when selecting legal representation [5] - The firm aims to continue serving as a trusted legal partner, advocating for justice and delivering outstanding results for clients throughout Illinois and beyond [6]

Core Insights - The article does not provide specific financial data or insights related to any companies or industries, focusing instead on disclaimers and the nature of the content provided [1][2][3] Group 1 - The content on Seeking Alpha is intended for discussion purposes and does not constitute financial advice [2] - Analysts contributing to Seeking Alpha may not be licensed or certified, and their views may not represent the platform as a whole [3] - There is no indication of any stock or derivative positions held by the author, nor plans to initiate such positions [1]

Financial Data and Key Metrics Changes - Revenue for the year increased by 14% to just over ZAR6 billion, driven by a strong gold price [3][34] - Operating profit also rose by 14% to just over ZAR2 billion [3] - Headline earnings increased by 4% [4][33] - Cash operating costs were higher than guidance, coming in at ZAR833,000 per kilogram, compared to the guidance of just under ZAR800,000 [5] Business Line Data and Key Metrics Changes - For the Ergo operation, revenue was up 10%, with gold sold down 8% year-on-year [28] - Cash operating costs for Ergo increased by 12%, leading to an operating profit of just under ZAR1 billion, up 7% [29] - Far West operations saw revenue increase by 24% year-on-year, with cash operating costs up 23% [30] Market Data and Key Metrics Changes - The average rand gold price increased by 20% year-on-year, averaging just over ZAR1.2 million [28] - The US dollar price of gold was reported to be well above $2,500 per ounce [28] Company Strategy and Development Direction - The company is focused on optimizing its resource base, with a goal to mine as many of its 6 million ounces of reserves as possible [11] - The strategy includes a significant capital investment of approximately ZAR7 billion to increase throughput from 2 million tonnes to 3 million tonnes per month by financial year 2028 [17][24] - The company is also investing in renewable energy, with a 60-megawatt solar plant expected to reduce electricity costs significantly [4][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in achieving targeted volume throughput but noted that they managed to produce 93% of targeted gold production [3] - The company is optimistic about future gold prices and the potential for increased production as new sites are developed [16][24] - Management emphasized the importance of sustainable practices and community engagement as part of their operational strategy [12][21] Other Important Information - The company reported a tragic fatality at the Eskom site, marking the first such incident in six years [6] - Water consumption decreased by 58%, with 95% of water used for mining being recycled [7] - The company is actively working on a new regional tailings facility, with construction progressing well [19][20] Q&A Session Summary Question: What are the expectations for gold prices moving forward? - Management expressed optimism about the continuation of high gold prices, which have been beneficial for revenue [28] Question: How is the company addressing its cash operating costs? - The company acknowledged the increase in cash operating costs due to various factors, including the transition to new sites and the complexity of operations [29] Question: What is the timeline for the new solar facility? - The solar facility is expected to significantly reduce electricity costs by 2025, with half of Ergo's energy consumption projected to come from solar [18]