DRDGold records higher Q3 profit, production and sales

JSE- and NYSE-listed surface gold miner DRDGold’s operating profit increased by 16% quarter-on-quarter to R97.6-million for the quarter ended March 31, reflecting higher gold production and sales, as well as a stronger average rand gold price. Gold production for the third quarter of the 2015 financial year was up 2% to 36 877 oz, compared with the 36 010 oz produced in the second quarter of the financial year, while ounces sold had also increased by 2% quarter-on-quarter. The average gold price received was 2% higher quarter-on-quarter at $1 224/oz, compared with $1 203/oz in the prior quarter. Speaking at a presentation of DRDGold’s quarterly results, in Sandton, Johannesburg, on Thursday, CFO Riaan Davel noted that higher gold output and a marginal increase in the gold price for the nine months to March 31, had pushed the company’s revenue up 13% to R1.55-billion, compared with R1.36-billion in the nine months to March 31, 2014.