JOHANNESBURG - Gold producer DRDGOLD on Monday reported a five percent increase to 1,493 kg in output for the quarter ended September 30 compared with the three months to June.
It attributed the rise primarily to a four percent increase in tonnage throughput as its Far West Gold Recoveries operation achieved a planned throughput of 500,000 tpm from phase 1 and successfully started operating its mills at the beginning of September.
"This resulted in a three percent and two percent decrease in cash operating cost per kilogram of gold sold and cash operating cost per ton of material processed respectively, compared to the previous quarter," DRDGOLD said.
Overall yield increased by one percent compared to the previous quarter due mostly to improved head grade at Ergo Mining.
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) more than doubled for the quarter, due mainly to the 15 percent increase in gold price received and a six percent increase in gold sold.