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South Africa’s DRD GOLD predicts that revenue will double in 2021.

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(Kitco News) -DRDGOLD (JSE, NYSE: DRD), South Africa’s gold producer and global leader in gold recovery from surface tailling reprocessing has earnings per share (“EPS”) and headline earnings per share (“HEPS”). We announced today that it will be 160.1 cents. EPS and HEPS for the year ended June 30, 2020 were 82.5 cents and 82.4 cents, respectively, while 176.5 cents for the year ended June 30, 2021 increased by 94% to 114%. was.

According to the company, the expected increase in EPS and HEPS during the current reporting period was mainly due to a 26% increase in revenue to R $ 5,269.0 million (2020: Rand 4,185.0 million), but the increase eased it. Was done. Cash operating expenses were 446.7 million rants (17%), which was 3,072.7 million rants (2020: 2,626.0 million rants).

Ergomining revenue increased by Rand 878.7 million (29%), mainly due to a 20% increase in the price of gold received and a 7% increase in gold (2020: 3,064.3 million). It became 10,000 rand). Sold. Volume throughput increased by 13%, mitigating a 6% reduction in yield primarily due to the previously reported depletion of high-grade reserves available at Knights plants.

Far West Gold Recovery’s revenue increased by R25.3 million (18%) to Rand 1,326 million (2020), primarily due to a 18% increase in the gold price of Rand received and a 1% increase. : 1,120.7 million rand). Sold for gold. Volume throughput increased by 2% as yield remained stable at 0.237 g / t.

In the fiscal year ended June 30, 2021, DRDGOLD generated R $ 1.1 billion in free cash flow (cash inflows from operating activities minus cash outflows from investing activities) and cash of Rand 640.9 million. I paid a dividend. The group said that as of June 30, 2021 (June 30, 2020: Rnil), bank debt remained free.

Disclaimer: The views expressed in this article are those of the author, Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided. However, Kitco Metals Inc. Neither the author nor the author can guarantee such accuracy. This article is for informational purposes only. The exchange of commodities, securities or other financial instruments is not a solicitation. Kitco Metals Inc. and the authors of this article are not responsible for any loss and / or damage caused by the use of this publication.

South Africa’s DRD GOLD predicts that revenue will double in 2021.

Source link South Africa’s DRD GOLD predicts that revenue will double in 2021.

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