The mining house DRDGOLD, which owns Far West Gold Recoveries between Carletonville and Fochville, released excellent results earlier today.

According to a spokesperson for the company, Jane Kamau, the company reported an estimated 28% increase in revenue for the six months ended 31 December 2024 over that of the previous six months.

Revenue at Far West Gold Recoveries Proprietary Limited (FWGR) increased by R302.1 million to R1 083.3 million. This was mainly due to a 26% increase in the Rand gold price and a 10% increase in gold. The increase in gold sold was mainly due to a 9% increase in yield.

The company expects to announce earnings per share and headline earnings per share of between 109.2 cents and 116.0 cents, which is, an increase of between 60% and 70% higher than the previous six months. The company is in the process of finalising its results for which are expected to be published on SENS on or about 18 February 2025.

The revenue at another DRDGOLD operation, Ergo Mining Proprietary Limited, also increased by R526.0 million to R2 719.0 million.

Group cash operating costs for the period increased by 6% to R2 215.1 million.

At FWGR, cash operating costs increased by R23.6 million, or 8%, to R328.7 million due to inflation and in particular, higher than inflation increases in security and labour costs.