DRD Operational Update Bullish
DRDGOLD LIMITED - Operating update for the quarter ended 31 March 2026
DRDGOLD Limited
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What this filing means
DRDGOLD delivered a robust quarterly update with Adjusted EBITDA up 21% and production up 6%, keeping it on track for the upper end of full-year guidance while building cash reserves to R2.3 billion.
Bull case
- Adjusted EBITDA rose 21% to R1,812.8 million and operating profit grew 19% to R1,854.0 million on the back of higher revenue and cost containment.
- Gold production increased by 6% to 1,219kg, keeping the company on track to hit the upper end of its 140,000–150,000oz FY2026 production guidance.
Bear case
- Top-line growth was heavily dependent on the macro environment, with a 13% quarter-on-quarter increase in the Rand gold price masking the drop in gold volumes sold.
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