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Johannesburg - DRDGOLD [JSE:DRD], South Africa’s fourth-largest gold producer, said on Thursday its production climbed slightly in the third quarter but headline earnings dipped as cash operating costs climbed and grades declined.
Gold output in the three months to the end of March rose 3%
to 34 947 ounces. DRDGold’s production is focused on surface operations and the
extraction of gold still contained in mine dumps surrounding Johannesburg.
Headline earnings per share from continuing operations fell
20% to 12 cents in the quarter compared to the previous one.
Chief executive Niel Pretorius said the company is aiming to
produce between 140 000 and 150 000 oz a year.
The company said the disposal of its 74% interest in the troubled Blyvoor operations to junior producer Village Main Reef Gold Mining Company [JSE:VIL] remained on track.
