DRD
DRDD
DRD - DRDGold Limited - Blyvooruitzicht judicial management extension
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the Company")
Blyvooruitzicht judicial management extension
Blyvooruitzicht Gold Mining Company Limited ("Blyvoor") a 74% owned subsidiary
of DRDGOLD, today (17 March 2010) filed papers with Blyvoor`s joint judicial
managers in anticipation of a meeting scheduled with them for 18 March 2010,
supporting its view that the mine should be lifted from judicial management.
In the filed papers, Blyvoor provides guidance on the rehabilitation of panels
damaged in seismicity and the opening up and development of areas accessed
through the mine`s ongoing WAP project and has made the following submissions
in support of its view:
- Between the months of November 2009 to February 2010 Blyvoor made a net
profit of R33.6 million and generated net cash flows after capital
expenditure of R27.5m.
The majority of pre-judicial management debts have been paid in full and all
trade creditors are back on normal terms. The meeting has been scheduled and
the papers provided to ensure that the judicial managers are in possession of
adequate and complete information to compile and submit to the High Court the
required written report on the financial status of Blyvoor by 13 April 2010.
Yesterday (16 March 2010), the High Court granted a 28-day extension to the
judicial management order, in order for the aforementioned report to be filed.
The financial information included in this announcement has not been reviewed or
reported on by the Company`s auditors.
Blackheath
17 March 2010
Sponsor: One Capital
Date: 17/03/2010 12:15:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
