[miningmx.com] – DRDGOLD would report interim headline earnings of between 2.4 cents and 2.8c/share, up to a 1,033% increase year-on-year partly owing to an increase in production.
The increase in gold production was due to improved recovery grade and stabilisation after the introduction of five new leach tanks in the low-grade carbon-in-leach (CIL) circuit, and the switch-over from the carbon-in-pulp (CIP) process to CIL in the high-grade flotation/fine-grind (FFG) section, the company said.
For the second quarter end, DRDGold had some R254m in cash compared to R300m in the previous quarter owing to some R40m that was not received at 31 December, contrary to the ordinary VAT cycle, the company said.
