DRD Gold

DRD Gold (South Africa, Nasdaq:DROOY; JSE:DRD) mines in South Africa, Papua New Guinea and Fiji. The Australasian assets represent roughly two million oz of reserves out of the DRDGOLD’s attributable 8,9 million oz of reserves, and seven million oz of its 47,6 million oz resources. DRD Gold subsidiary Emperor Mines entered into an agreement in 2007 to sell its 20% stake in the Porgera gold mine in Papua New Guinea to its partner in the project, Barrick Gold, for $250m, erasing all its debt and leaving it cash positive. Following completion of the transaction, Emperor will have no debt and will have cash resources of approximately A$130 million.

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