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JOHANNESBURG, April 26 – DRDGold, South Africa’s
fourth-largest gold producer, said on Thursday its production
climbed slightly in the third quarter but headline earnings
dipped as cash operating costs climbed and grades declined.
Gold output in the three months to the end of March rose 3
percent to 34,947 ounces. DRDGold’s production is focused on
surface operations and the extraction of gold still contained in
mine dumps surrounding Johannesburg.
Headline earnings per share from continuing operations fell
20 percent to 12 cents in the quarter compared to the previous
one. Headline earnings are the main profit gauge in South Africa
and strip out certain one-off items.
Chief executive Niel Pretorius said the company is aiming
to produce between 140,000 and 150,000 ounces a year.
The company said the disposal of its 74 percent interest in
the troubled Blyvoor operations to junior producer Village Main
Reef remained on track.
(Writing by Sherilee Lakmidas; Reporting by Ed Stoddard;
Editing by Jon Herskovitz)
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