DRDGold expects output rise | Fin24
 
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DRDGold expects output rise

Jan 22 2015 08:48

(File) (Shutterstock)

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Johannesburg - Gold producer DRDGold [JSE:DRD] expects an increase of 6% in gold production for the six months ended December 31, compared to the previous six months.

"Operating profit for the six months is likely to be around five percent higher, in line with the increase in gold production for the same period, while the company's cash and cash equivalents balance is expected to have increased by 19 percent since 30 September 2014," the company said in a statement on Wednesday.

CEO Niel Pretorius attributed the improvement in gold production to the restoration of metallurgical efficiencies.

He said operating business improvements followed the suspension of the company's new flotation and fine-grind circuit in April 2014.

DRDGold will release full results for the quarter and the six months that ended on December 31 on February 19.

drdgold  |  gold  |  mining
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