2024-07-12 10:31:30 ET
Summary
- The company holds significant gold reserves and resources, with a focus on Ergo and FWGR segments in the Witwatersrand Basin in the Gauteng province of South Africa.
- The outlook is promising with bullish gold prices and a positive impact on throughput from the recent commissioning of tailings reprocessing assets.
- This analysis re-assigns a Hold rating to DRDGOLD Limited shares.
This Analysis Re-Assigns a Hold rating for DRDGOLD Limited
This analysis assigns a Hold rating to DRDGOLD Limited ( DRD ) shares, the same rating as in the previous analysis . DRDGOLD, headquartered in Johannesburg, South Africa, is a gold mining company engaged in the extraction of gold from the reprocessing of surface tailings in the Witwatersrand Basin in the Gauteng province of South Africa.
The outlook is promising, as the effective share price driver of earnings is poised to fare well under the following conditions: Bullish gold prices and incremental impact on throughput after the commissioning in late January 2024 of the 4L3 and 5L27 feeders to the Ergo plant. The Ergo facility is part of DRDGOLD's Ergo segment of waste processing for gold recovery in the Gauteng province, with the other business segment being the Far West Gold Recoveries [FWGR] segment....
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DRDGold Has Steam, But Better From A Dip