CFO Riaan Davel says DRDGold has “survived well” during challenging circumstances

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DRDGold reported a profit and its 15th consecutive dividend despite various socio-economic challenges.

DRDGold has hit multiple milestones with the release of its results for the financial year ended 30 June 2022. “The fact that we beat our gold production guidance and came in at expected cash operating costs per kilogram under very challenging circumstances makes me proud,” says CFO Riaan Davel.

He explains that the challenging circumstances included the highest summer rainfall in many years, loadshedding, security threats, cost and supply chain pressures, angry societies, community violence and violent crimes.

Despite these challenges, DRDGold still achieved an operating profit of R1,685 billion, which Riaan accredits to “good gold prices the previous year, good cost management, and stable operations during these circumstances”.

He further adds that DRDGold was able to do this through the resilience it had built up over many years.

“To thrive well, you need to survive well,” he says.

The gold mine also declared its 15th consecutive dividend payment of 40 cents per share, making a total distribution of 60 South African cents per share for the year.

Looking to remain resilient, Riaan explains that DRDGold is still pursuing opportunities with Sibanye Stillwater in PGMs and other metals.

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