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DRDGOLD (DRD) - 2022 Q4 - Earnings Call Presentation
2023-08-24 13:23
Niël Pretorius Chief Executive Oficer Riaan Davel Chief Financial Officer DRDCOLD Results for the year ended 30 June 2023 Virtual Results Briefing 23 August 2023 RE (IND DISCLAIMER Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we se ...
DRDGOLD (DRD) - 2022 Q4 - Earnings Call Transcript
2023-08-24 13:22
DRDGOLD Limited (NYSE:DRD) Q4 2022 Earnings Conference Call August 24, 2023 4:00 AM ET Company Participants Niel Pretorius - CEO Riaan Davel - CFO Jaco Schoeman - COO Conference Call Participants Niel Pretorius Good morning, everyone, and thank you very much for joining myself, Riaan and Jaco for our results presentation for the financial year ending the June 30, 2023. Before we start -- all right. I think this is somebody who needs to go on to mute. Thank you. Before we start, I think maybe just a moment t ...
DRDGOLD (DRD) - 2022 Q4 - Annual Report
2022-10-28 21:18
UNITED STATES SECURITIES AND EXCHANGECOMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANTTO SECTION 12(b)OR (g) OF THE SECURITIESEXCHANGE ACTOF 1934 OR ☑ ANNUAL REPORTPURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIESEXCHANGE ACTOF 1934 For the fiscalyear ended June 30, 2022 OR ☐ TRANSITIONREPORT PURSUANTTO SECTION 13 OR 15(d) OFTHE SECURITIESEXCHANGE ACTOF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TOSECTION 13 OR15(d) OF THESECURITIES EXCHANGEACT 1934 Commission file number0-28800 DRDG ...
DRDGOLD (DRD) - 2022 Q4 - Annual Report
2022-10-27 16:00
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 6-K REPORT OF A FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 October 28, 2022 Commission File Number 0-28800 ______________________ DRDGOLD Limited Constantia Office Park Cnr 14th Avenue and Hendrik Potgieter Road Cycad House, Building 17, Ground Floor Weltevreden Park 1709 (Address of principal executive offices) ______________________ Indicate by check mark whether th ...
DRDGOLD (DRD) - 2022 Q2 - Earnings Call Transcript
2022-08-24 16:24
Financial Data and Key Metrics Changes - Revenue decreased by 3% year-on-year, primarily due to a decline in gold prices and a reduction in gold sold [32][43] - Operating profit was R1.7 billion, down by just over 20% compared to the previous year [13] - Headline earnings also fell by 22% year-on-year, totaling R1.1 billion [42][47] - Cash operating costs increased by approximately 13% year-on-year, reflecting cost pressures from key consumables [33][36] - Free cash flow decreased to R871.6 million from R1.1 billion in the previous year [41] Business Line Data and Key Metrics Changes - **Ergo Operations**: Revenue down by 6% year-on-year, with a 3% decrease in the average rand gold price received and a 3% reduction in gold sold [32] - **Far West Gold Operations**: Showed a year-on-year improvement in gold revenue of 7%, with gold sold up by 9% and an 8% increase in yield [35] - Overall, production remained relatively flat across both operations, with challenges in volume throughput due to weather and electricity interruptions [18][26] Market Data and Key Metrics Changes - The gold price experienced a decline of approximately 3% year-on-year, impacting overall revenue and operating margins [37] - Operating margin decreased by 20% year-on-year, attributed to rising costs and lower gold prices [37] Company Strategy and Development Direction - The company is focused on sustainable development and ESG initiatives, emphasizing the importance of environmental management and community support [58][80] - Future capital expenditures are expected to be R1.4 billion, with significant investments in solar energy projects and tailings management [99][100] - The company aims to maintain a stable production range of 160,000 to 180,000 ounces, depending on volume throughput [97] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by economic uncertainty, inflation, and local disruptions, including load shedding and social unrest [4][6][9] - Despite these challenges, management expressed optimism about the company's resilience and commitment to investing in operations for long-term growth [96][101] - The company is actively seeking opportunities for growth and expansion while managing risks associated with the operating environment [46][98] Other Important Information - The company has maintained a healthy dividend payout, with a total dividend of R0.60 for the year [41][56] - Significant investments in socio-economic development amounting to R52.9 million were reported, reflecting the company's commitment to community welfare [16][80] Q&A Session Summary Question: What is the outlook for same business CapEx over the next three years? - The company plans to focus on opening new pump stations and dumps for retreatment, with significant investments expected from next year onwards [104][106] Question: Are there plans for self-generation of power? - Currently, the company is exploring options for wheeling and drawing power from Eskom substations but does not have immediate plans for individual power generation [109] Question: What is the status of legal issues at Ergo and Withok? - There are no significant legal issues at Ergo, but a new water usage license application is underway for Withok to expand operations [111][113]
DRDGOLD (DRD) - 2022 Q1 - Earnings Call Transcript
2022-02-16 13:55
Financial Data and Key Metrics Changes - Revenue for the six months ending December 2021 was just under R2.5 billion, a decrease of 16% compared to the same period in 2020, primarily due to a 13% drop in gold price and a 4% decrease in gold sold [4][18] - Operating profit was just over R830 million, reflecting a 48% decline period-on-period, driven by increased costs and lower revenue [4][18] - Free cash flow generated was over R400 million, allowing the company to declare an interim dividend for the 15th consecutive year [7][18] Business Line Data and Key Metrics Changes - For the Ergo operation, gold sold decreased by 9%, contributing to a 20% decrease in revenue, with cash operating costs increasing by 12% [15][16] - Far West Gold showed a solid performance with gold sold up by 13%, despite the overall gold price decline, indicating stable throughput and improved yield [16][17] Market Data and Key Metrics Changes - The average gold price for the six months was R863,000 per kilogram, down from R988,000 in the previous year [4][14] - The company maintained a sustaining cost margin of approximately 3%, despite rising operational costs [6][18] Company Strategy and Development Direction - The company aims to integrate environmental sustainability into its operations, focusing on long-term mining strategies that allow for environmental cleanup and sustainable land use [12][34] - There is a commitment to optimizing capital expenditure, with R600 million planned for capital projects aimed at enhancing operational efficiency and environmental management [13][22] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with operational performance despite challenges such as electricity supply disruptions and adverse weather conditions [3][4] - The outlook remains positive, with production trends showing improvement and a focus on maintaining cash flow and dividend payments [7][46] Other Important Information - The company reported a slight decrease in dust exceedances, indicating improved environmental performance [8] - Significant investments are being made in social and economic development, with just under $20 million spent in this area [7][41] Q&A Session Summary Question: What are the expectations regarding gold price fluctuations? - Management emphasized the importance of maintaining full exposure to gold price dynamics, allowing for potential upside while managing costs effectively [25][26] Question: How is the company addressing rising operational costs? - The company is closely monitoring cost pressures, particularly in reagents and electricity, and is committed to managing these costs while maintaining operational efficiency [15][16] Question: What is the company's approach to environmental sustainability? - The company is focused on zero-waste operations, utilizing recycled water and planning to increase reliance on solar power to reduce its carbon footprint [32][34]
DRDGOLD (DRD) - 2021 Q4 - Annual Report
2021-10-28 21:19
UNITED STATES SECURITIES AND EXCHANGECOMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANTTO SECTION 12(b)OR (g) OF THE SECURITIESEXCHANGE ACTOF 1934 OR ☑ ANNUAL REPORTPURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIESEXCHANGE ACTOF 1934 For the fiscalyear ended June 30, 2021 OR ☐ TRANSITIONREPORT PURSUANTTO SECTION 13 OR 15(d) OFTHE SECURITIESEXCHANGE ACTOF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TOSECTION 13 OR15(d) OF THESECURITIES EXCHANGEACT 1934 Commission file number0-28800 DRDG ...
DRDGOLD (DRD) - 2021 Q4 - Earnings Call Transcript
2021-08-25 15:39
DRDGOLD Limited (NYSE:DRD) Q4 2021 Earnings Conference Call August 25, 2021 4:30 AM ET Company Participants Daniel Pretorius - CEO Riaan Davel - CFO Jaco Schoeman - COO Conference Call Participants Daniel Pretorius Good morning, everyone. Before we officially start our results presentation, I'd just and briefly note that couple of rules for this webinar, everyone will be in listen-only mode for the remainder of the presentation. Everyone will remain muted and just to note that these hand-outs stack with all ...
DRDGOLD (DRD) - 2021 Q2 - Earnings Call Transcript
2021-02-16 20:16
Financial Data and Key Metrics Changes - Revenue increased by 41% to just under ZAR 3 billion, with operating profit doubling to just under ZAR 1.5 billion compared to the previous period [5][16] - Headline earnings reached just under ZAR 950 million, resulting in a headline earnings per share of ZAR 1.11, up 129% year-on-year [5][22] - Free cash flow was just under ZAR 760 million, up 87% from the previous period [21] - All-in sustaining costs increased by 17%, while cash operating costs rose by 10% [6][17] Business Line Data and Key Metrics Changes - Gold production slightly decreased to just under 3 tonnes, with Ergo operations performing well in terms of throughput and recoveries [5][10] - Far West Gold production was slightly down, but revenue increased by 36% to just under ZAR 700 million due to higher gold prices [18] - Operating profit for Far West Gold was just over ZAR 500 million, up 43% period-on-period [18] Market Data and Key Metrics Changes - The average gold price was just under ZAR 1 million per kilo, remaining favorable for the industry [7] - The gold price is expected to remain high, but the company is preparing for potential downturns in the market [7][62] Company Strategy and Development Direction - The company is focusing on sustainable development and environmental rehabilitation, spending just over ZAR 50 million on environmental initiatives [9][35] - There is an emphasis on concurrent rehabilitation, ensuring that environmental impacts are managed throughout the mining process [9][36] - The company is exploring opportunities for expansion and collaboration within the Sibanye-Stillwater group, looking to leverage shared values and resources [57][58] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the business during COVID-19, attributing success to mechanization and technology [44][47] - The company is aware of the challenges posed by electricity supply and is planning to implement solutions to mitigate these risks [49][50] - Future strategies include focusing on social investment and community resilience to address social risks and support local economies [51][52] Other Important Information - The company declared a dividend of ZAR 0.40 per share, marking the 14th consecutive year of dividend payments [5][32] - Environmental rehabilitation efforts included the rehabilitation of 52.5 hectares of tailings sites [8][36] Q&A Session Summary Question: Have you considered expanding operations internationally? - The company is open to exploring operations outside South Africa but currently has no specific plans [64][65] - There is potential to establish a role in tailings management as a service provider, focusing on concurrent rehabilitation [66][68]
DRDGOLD (DRD) - 2020 Q4 - Annual Report
2020-10-29 13:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 1934 Commission file ...