Drdgold SEC Filings

DRDGOLD Limited expects a sharp improvement in results for the six months ended 31 December 2025. It guides for earnings per share of 216.9–228.2 cents and headline earnings per share of 217.5–228.7 cents, up 93–103% from 112.6 cents a year earlier.

Group revenue rose 33% to R5,053.2 million, driven by a 43% higher Rand gold price despite 7% lower gold sales. Cash operating costs increased modestly to R2,294.1 million, while capital reinvestment jumped 74% to R1,651.3 million on key tailings and plant projects. Free cash inflow grew to R793.1 million, cash reached R1,734.4 million, and the Group had no bank debt at period end.

DRDGOLD Limited reports that wage negotiations at its Ergo Mining operations have been concluded with a five-year single wage agreement covering all employees in the bargaining unit. The agreement follows earlier protected strike notices and the suspension of strike action at Ergo.

The agreement provides guaranteed annual wage increases of between 6% and 7.5% over five years, a new 2% performance-based incentive linked to safety, production and attendance, and improvements to the Living Out Allowance and interest-free housing support scheme. Employees will also receive backpay from 1 July 2025 and a once-off R5 000 ex gratia payment.

DRDGOLD’s CEO, Niël Pretorius, stated that the agreement brings certainty for employees and the Ergo operations, balancing meaningful remuneration improvements with the long-term sustainability of the business and supporting safe, stable operations and continued value creation.

DRDGOLD Limited has sold its 100% interest in Stellar Energy Solutions Proprietary Limited to NOA Group Assets Proprietary Limited for a total cash consideration of R147.5 million. The deal has reached financial close and will be implemented on 23 December 2025.

The Stellar Project involves a planned 150MWh solar power plant in Polokwane that is described as shovel-ready, with most licences and approvals in place. Separately, DRDGOLD has already commissioned a 60MWh solar plant and a 160MWh battery storage system at its Ergo operations, providing around 12 hours of off-grid power daily and covering about half of Ergo’s power needs, with surplus power credited by Eskom.

Alongside the sale, DRDGOLD has entered into a renewable electricity supply agreement with the NOA Group to procure 76GWh per year of renewable energy starting in January 2028, supporting its Vision 2028 growth strategy and carbon reduction goals. The transaction is described as an uncategorised, voluntary disclosure under JSE rules.

DRDGOLD Limited reports that a planned protected strike at its Ergo Mining operations has been suspended by the National Union of Mineworkers and the Association of Mineworkers and Construction Union. The strike had been scheduled to start with the morning shift on 18 December 2025, but operations at Ergo are continuing uninterrupted.

The wage and profit-share dispute with these unions remains unresolved. DRDGOLD states that its wage offer, which the United Association of South Africa accepted on 12 December 2025, is above current inflation, aligned with recent wage agreements in the gold sector and designed to preserve the long-term sustainability of the Ergo operations. The company indicates it remains open to further engagement to avoid financial harm to employees and disruption to operations.

DRDGOLD Limited reports that two major unions have given 48 hours’ notice of protected strike action at its Ergo Mining operations from 18 December 2025.

The dispute follows wage negotiations that began in July 2025, where 23 of 25 union demands have been resolved, with wages and profit share still outstanding. UASA has accepted and signed the wage agreement, so the potential strike affects only members of AMCU and the NUM, which are demanding a 12% across-the-board wage increase and additional profit-related benefits, well above the 3.6% CPI and recent gold sector agreements.

ERGO’s offer includes 6%–7.5% guaranteed annual wage increases for five years, continuation of a profit-share scheme distributing 15% of payroll when performance milestones are met, a new 2% performance-based incentive, and improved housing-related benefits. The company has contingency measures and currently anticipates Ergo throughput of approximately 40 000 tons per day versus a planned 54 000 tons per day during any action, with no expected impact on Far West Gold Recoveries operations.

DRDGOLD Limited reported the results of its annual general meeting held on 26 November 2025. Shareholders approved all ordinary and special resolutions set out in the AGM notice.

Key outcomes include the appointment of BDO South Africa Inc., with Jacques Barradas as designated audit partner, as independent external auditors, and the re-election or election of several directors, including Timothy Cumming, Charmel Flemming, Andrew Brady and Henriette Hooijer.

Shareholders also elected members to the Audit Committee and the Social and Ethics Committee, endorsed the Company’s remuneration policy and its implementation report through non-binding advisory votes, and granted a general authority to repurchase issued securities and approved non-executive directors’ remuneration.

DRDGOLD Limited announced a planned CFO transition. Mr Riaan Davel has formally resigned and will step down as Chief Financial Officer and executive director on January 31, 2026. Ms Henriette Hooijer, previously appointed CFO Designate and an executive director, will assume the CFO role on February 1, 2026.

The company also noted that its annual Broad‑Based Black Economic Empowerment compliance report, prepared under section 13G(2) of the B‑BBEE Act, is available on its website.

DRDGOLD Limited filed its annual report on Form 20-F, detailing operations in South Africa under IFRS reporting. The company had 864,588,711 ordinary shares outstanding as of June 30, 2025. Its American Depositary Shares trade on the NYSE under DRD, with each ADS representing ten ordinary shares. For convenience translations, rand amounts were converted at R17.75 per $1.00.

Key project updates focus on tailings capacity and processing. The FWGR Phase 2 program includes the Regional Tailings Storage Facility (RTSF) with total planned deposition capacity of 800Mt at an eventual rate of 2.4Mtpm; one‑third is targeted for completion in Q1 FY2027 to align with the DP2 plant expansion. The DP2 upgrade aims to double throughput to 1.2Mtpm by Q1 FY2027, and 60km of a 135km pipeline network has been constructed. At Ergo, recommissioning of the Withok TSF anticipates about 310Mt capacity, with commissioning planned within three to four years. The commissioned 60 MW solar plant and 160 MWh BESS have been integrated to reduce Eskom reliance.