South Africa's DRDGOLD ups gold production and EBITDA in third quarter

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(Kitco News) - DRDGOLD (JSE, NYSE: DRD), aSouth African gold producer that recovers gold from the retreatment of surfacetailings, announced today that in Q3 2021, its gold production increased by 7%from the previous quarter to 1,449kg primarily due to an 8% increase in yield.

All-in sustaining costs perkilogram and all-in costs per kilogram were R648,880/kg and R667,157/kg, respectively,decreasing quarter on quarter mainly due to a decrease in sustaining capitalexpenditure, the company noted.

Importantly, the company saidthat its adjusted EBITDA increased by 16% from the previous quarter to R350.8million (~$24 million) primarily due to a 5% increase in gold sold and a 2%increase in the average Rand gold price received.

Despite the capitalexpenditure planned for the financial year, the company added it remains in afavourable position to, in the absence of unforeseen events, consider declaringan interim cash dividend in or around February 2022.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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