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John Sayers, CEO, DRDGOLD
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DRDGOLD will grow organically - John Sayers, CEO
In an interview on Radio 2000 @ 18:00 on Wednesday 10 January 2007
[miningmx.com] -- EMBATTLED South African gold producer DRDGOLD is positioned for growth and it will invest the windfall from the higher gold price in the company, CEO John Sayers said.
“We've cut off the loss-making assets, and we've got our reserves and resources. We're very bullish on the gold price, which hasn't let us down so far and we also have the money now to invest in our existing operations. I think that's very much our fundamental strategy going forward,” Sayers said on the Moneyweb Power Hour, a week-nightly radio broadcast.
The company had invested significantly in its existing mines.
“We've accepted there is a risk in terms of deep level mining, and we've worked very hard to spread our surface operations, in fact , our surface operations will now be a much larger part of our operation, fundamentally in the Mintails joint venture.”
Meanwhile,
the American banks were the main shareholders in the company.
“About 75% of our shares are quoted on Nasdaq, and it's amongst the highest traded shares on Nasdaq. We are an open unhedged company, and a lot of American individual investors like that, so there's a lot of trade that goes through Nasdaq at the moment,” he said.
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