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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]

Financial Performance - Revenue increased by 14% to R6 239.7 million[2] - Operating profit increased by 14% to R2 081.3 million[2] - Headline earnings increased by 4% to R1 327.2 million[2] - Capital expenditure increased significantly to R2 985.7 million (FY2023: R1 145.2 million)[2] Operational Performance - Gold production decreased by 5% to 5 002 kg[2] - Throughput decreased by 3% to 22.3Mt[2] - Cash operating costs increased by 20% to R833 536/kg[2] - All-in sustaining costs margin of 24%[2] ESG Performance - Potable water consumption decreased significantly by 58% to 988 MI[2] - Electricity consumption decreased by 6% to 312 333 MWh[2] - Hectares vegetated increased to 59ha (FY2023: 25ha)[2] Strategic Initiatives - Ergo Solar Project substantially completed, with 40MW operational and 160MWh battery energy storage system underway[2,7] - Regional Tailings Storage Facility breaking of ground on 5 July 2024[8] Future Outlook - FY2025 guidance: Gold production between 155 000oz and 165 000oz at cash operating cost of R870 000/kg[39] - Expected capital investment of R3.5 billion in FY2025[39]

Core Viewpoint - DRDGOLD Limited maintains a Hold rating, with a promising outlook driven by bullish gold prices and operational improvements following the commissioning of new feeders at the Ergo plant [5][10]. Company Overview - DRDGOLD Limited is a gold mining company based in Johannesburg, South Africa, focused on extracting gold from surface tailings in the Witwatersrand Basin [5]. - The company holds approximately 5.8 million ounces of gold in mineral reserves and about 9.6 million ounces in mineral resources, with the Ergo segment accounting for around 60% of total mineral reserves [5]. Recent Performance - DRDGOLD shares have increased by 22.75%, or 24.45% including dividends, outperforming the S&P 500's return of 13.46% [6]. - An interim dividend of R$0.20/share (approximately US$0.011/share) was announced for the first half of fiscal year 2024, marking the 17th consecutive year of dividend payments [6]. Gold Price Impact - The price of gold is a critical driver for DRDGOLD's earnings, with an increase in gold prices offsetting declines in production and rising operating costs [9]. - The average gold price reached US$2,337.55/oz as of June 30, 2024, reflecting an 18.2% year-on-year increase [10]. Operational Developments - The commissioning of the 4L3 and 5L27 feeders at the Ergo plant is expected to enhance throughput and improve operational performance [9]. - DRDGOLD's production for the first half of fiscal year 2024 was impacted by a 7% year-on-year decline, but profitability was supported by a 22% increase in the Rand gold price [9]. Future Outlook - Analysts predict continued bullishness in gold prices, with forecasts suggesting prices could reach US$3,000/oz within 6-18 months [11]. - The company plans to invest approximately R3,500 million (around US$193.2 million) in capital infrastructure, including a 60 MW solar project and expansion at the Far West Gold Recoveries division [11]. Stock Performance - DRD shares are currently trading at $9.60, with a market capitalization of $821.87 million, slightly above the midpoint of the 52-week range [12]. - The stock is showing signs of nearing the top of its price cycle, suggesting investors may want to wait for a dip before increasing holdings [12][13].

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DRDGOLD (DRD) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.DRDGOLD is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank inclu ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. DRDGOLD (DRD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.DRDGOLD is a member of our Basic Materials group, which includes 237 diffe ...

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is DRDGOLD (DRD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.DRDGOLD is one of 237 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, ...

DRDGOLD Ltd (NYSE:DRD, JSE:DRD, OTC:DRDGF) CEO Niël Pretorius spoke with Proactive's Stephen Gunnion to shed light on the company's financial performance in the first half, which saw a 12% revenue increase and the declaration of an interim dividend for the 17th consecutive year. This interview not only explores DRDGOLD's recent financial achievements but also delves into its forward-looking investments, including a significant push towards renewable energy and the expansion of its gold recovery operations. ...

RESULTS for the six months ended 31 December 2023 DISCLAIMER GROUP KEY FEATURES 17th consecutive financial year of dividend payment of (20 cents per share for HY1 FY2023) development spend of Riaan Davel Chief Financial Officer RE GIND 2 Pay as you earn (PAYE): R127.8m 22% increase in the average Rand gold price received to R1 173 245/kg Women in Mining R27.2m 6% decrease remained unchanged at 24% of total staff 12% increase Production 2 547kg Headline earnings R589.3m 10% increase 4 ERGO OPERATING TRENDS P ...

DRDGOLD Limited (NYSE:DRD) Q2 2024 Earnings Conference Call February 14, 2024 3:00 AM ET Niel Pretorius - Chief Executive Officer Niel Pretorius Headline earnings on the back of both revenues and the increase in operating profit have gone up by 10%. And I think because of positive headline earnings, itÂ's just all the more compelling to again declare that dividend that informs the – to an extent, it's one of the considerations when it comes to the decision whether or not to declare a dividend. We again play ...