{"id":7954,"date":"2012-02-14T14:05:16","date_gmt":"2012-02-14T12:05:16","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-drdgold-q2-profit-up-65-pct-on-higher-gold-price\/"},"modified":"2012-02-14T14:05:16","modified_gmt":"2012-02-14T12:05:16","slug":"update-1-drdgold-q2-profit-up-65-pct-on-higher-gold-price","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-drdgold-q2-profit-up-65-pct-on-higher-gold-price\/","title":{"rendered":"UPDATE 1-DRDGold Q2 profit up 65 pct on higher gold price"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Q2 Headline EPS 33 cents vs 20 cents in Q1<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Production flat at 63,659 ounces<\/p>\n<p><span><\/span><\/p>\n<p>* Shares up 24 pct so far this year<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 14 (Reuters) &#8211; DRDGold,<br \/>\nSouth Africa&#8217;s fourth-largest gold producer, said on Tuesday<br \/>\nthat second-quarter earnings climbed 65 percent as it continued<br \/>\nto cash in on the higher gold price.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings totalled 33 cents per share in the<br \/>\nOctober-December second quarter, compared with 20 cents in the<br \/>\nfirst quarter. Headline earnings, the main profit measure in<br \/>\nSouth Africa, strip out certain one-off items.<\/p>\n<p><span><\/span><\/p>\n<p>Total gold production was virtually unchanged quarter on<br \/>\nquarter at 63,659 ounces, but lower than the 69,446 ounces<br \/>\nproduced in the second quarter last year, with declining grades<br \/>\nthe chief culprit.<\/p>\n<p><span><\/span><\/p>\n<p>The company, which plans to exit underground mining, aims to<br \/>\nincrease its production by as much as 20 percent through the<br \/>\nconstruction of a 250 million rand ($32.46 million) milling<br \/>\ncircuit at its Ergo&#8217;s Brakpan plant.<\/p>\n<p><span><\/span><\/p>\n<p>Profit was buoyed by an 11 percent increase in the average<br \/>\nrand gold price received to R437,316\/kg.<\/p>\n<p><span><\/span><\/p>\n<p>Gold shot to an all-time high of $1,920.30 an ounce in early<br \/>\nSeptember and while US dollar gold prices have declined since<br \/>\nthen, the rand-per-kilogram price of gold has soared on the back<br \/>\nof a weaker rand.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Q2 Headline EPS 33 cents vs 20 cents in Q1 * Production flat at 63,659 ounces * Shares up 24 pct so far this year (Adds details) JOHANNESBURG, Feb 14 (Reuters) &#8211; DRDGold, South Africa&#8217;s fourth-largest gold producer, said on Tuesday that second-quarter earnings climbed 65 percent as it continued to cash in on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7954","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7954"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7954\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}