[miningmx.com] — Gold miner DRDGold said on Wednesday that it expected gold production for March quarter to be about three percent lower than the previous quarter at around 67,400 ounces. It also said in a guidance for investors that cash operating costs were expected to be about six percent higher as a result of the lower production.
“It is estimated that capital expenditure will be about 11% higher than the previous quarter ended 31 December 2010, reflecting the continued development of the Crown/Ergo pipeline,” it added.
DRDGold is a mid-tier gold producer and the fourth largest in South Africa. In 2010, the company produced 241 194 ounces.
It reported a return to profit in the December quarter helped by a six percent rise in production and said then that it had expected steady results ahead.
