Drd Sets Record Straight On Production For March 2
DRD sets record straight on production for March 2003 quarter
Durban Roodepoort Deep, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
(Share code: DUR)
(ISIN: ZAE 000015079)
(ARBN number 086 277 616)
(NASDAQ Trading Symbol: DROOY)
("DRD" or "the company")
DRD sets record straight on production for March 2003 quarter
Following public speculation that the gold production of Durban Roodepoort Deep,
Limited, (DRD) for the March 2003 quarter may be substantially below par, the
company has decided it prudent to release its production figures for the
quarter, ahead of the release of its full operating and financial results on
Tuesday, 29 April, 2003.
Attributable group gold production for the March 2003 quarter, compared with
December 2002 quarter and with the March 2002 and December 2001 pro-forma
quarters (adjusted to reflect the sale of 60% of Crown), but excluding the
attributable gold production from the recently acquired 19.8% shareholding in
the Australian listed Emperor Gold Mines Limited are as follows:
Quarter December 2001 March 2002% Variance
Total production
(kgs) 7 713* 7 075* - 8
Quarter December 2002 March 2003% Variance
Total production
(kgs) 7 006* 6 501* - 7
*40% of Crown Gold recoveries
The main reasons for the 7% decline in production between the December 2002 and
March 2003 quarters include:
* downscaling of the open-cast operation at the company"s North West Operations;
* a power failure and consequent 11-day interruption of pumping and production
at Buffels" Pioneer Shaft: and
* the continued effect, into the March quarter, of the seismic event on the
Harties 6 Shaft pillar in the December quarter (reported in the company"s
results for that quarter).
On 19 March 2003, DRD announced that its March 2003 results would be affected by
the strengthening of the South African Rand against the US Dollar and, to a
lesser degree, by the four-week fire at the company"s 40% held ERPM gold mine.
Johannesburg
9 April 2003
Queries:
Ilja Graulich, DRD
27 11 381 7800 (office)
27 83 604 0828 (mobile)
James Duncan, Russell & Associates
27 11 880-3924 (office)
27 82 892 8052 (mobile)
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