DRD - DRDGOLD Limited - DRDGOLD raises R108 million for pipeline project
DRD
DRDD
DRD - DRDGOLD Limited - DRDGOLD raises R108 million for pipeline project
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")
DRDGOLD RAISES R108 MILLION FOR PIPELINE PROJECT
DRDGOLD Limited announced today that its 74%-owned subsidiary DRDGOLD South
African Operations (Pty) Limited ("DRDGOLD SA") has established a R500 million
Domestic Medium Term Note Programme ("DMTN Programme") under which it may from
time to time issue notes. DRDGOLD SA has successfully issued R108 million under
the DMTN Programme and the different notes issued mature 12 and 24 months from
the date of issue and bear interest at the three month Johannesburg Inter-bank
Acceptance Rate plus a margin ranging from 4% to 5% per annum.
The proceeds from this first issue will be applied towards the capital
requirements of the Crown/Ergo pipeline project. The new, 50-kilometre pipeline
currently under construction and scheduled for completion by August 2011, will
link two of Crown`s plants with Ergo. This will provide Crown with increased
tailings deposition capacity - a constraint in recent times - and thus the
potential to extend Crown`s life by bringing to account further surface tailings
resources on the western and central Witwatersrand.
As part of the pipeline project, the Ergo plant`s second carbon in leach (CIL)
circuit will be refurbished to increase capacity from 1.2Mtpm to 1.8Mtpm.
Roodepoort
5 October 2010
Sponsor
One Capital
Date: 05/10/2010 10:15:01 Produced by the JSE SENS Department.
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