JOHANNESBURG (miningweekly.com) – When the R10-billion five-project Vision 2028 expansion plan of Johannesburg Stock Exchange-listed surface gold company DRDGOLD was conceived in 2024, its market capitalisation was about R13-billion and the gold price R1.2-million per kilogramme.
Currently, DRDGOLD’s market capitalisation is in the region of R30-billion and the gold price R2.1-million per kilogramme.
“Our timing could not have been better,” DRDGOLD CFO Henriette Hooijer pointed out during DRDGOLD’s Vision 2028 update, in which DRDGOLD CEO Niël Pretorius and DRDGOLD COO Jaco Schoeman participated. (Also watch attached Creamer Media video.)
With just over R5-billion already spent, DRDGOLD is roughly halfway through its Vision 2028 programme, with most expended on the Driefontein Two (DP2) project at Far West Gold Recoveries on the West Rand, the regional tailings storage facility (RTSF) also at Far West Gold Recoveries, and, in the current financial year, also on the Daggafontein tailings storage facility (TSF) at Ergo on the East Rand.
As Vision 2028 proceeds into financial year (FY) 2027, very little capital remains to be expended on DP2 and Daggafontein, “so yes, we’re tracking well”, said an upbeat Hooijer, who emphasised how chuffed the team was to pour the first doré gold bar in the new DP2 smelt house on schedule and on budget on Tuesday, July 14.
