| Wed 18 Aug 2004, 11:20 | | DRD Lists On Port Moresby Stock Exchange |
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Durban Roodepoort Deep, Limited - DRD Lists On Port Moresby Stock
Exchange
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
(Share code: DUR)
(ISIN: ZAE000015079)
(ARBN number: 086 277 616)
(NASDAQ Trading Symbol: DROOY)
(`DRD`)
DRD LISTS ON PORT MORESBY STOCK EXCHANGE
DRD today listed on the Port Moresby Stock Exchange (`POM SoX`),
reflecting the company`s growth as one of Papua New Guinea`s (`PNG`)
major gold producers.
After the customary ringing of the bell at POM SoX to allow trading
to commence in a new stock, DRD Executive Chairman Mark Wellesley-
Wood said the listing reflected DRD`s long term commitment to PNG.
South African-based DRD, the world`s ninth largest gold producer,
has owned and operated the Tolukuma Gold Mine in PNG since 2000 and
in October last year completed the acquisition of 20% in the Porgera
Gold Mine Joint Venture. The DRD Group produces almost 1 million
ounces of gold annually from its South African, PNG and Fijian
operations.
Annual attributable production from the company`s PNG gold mining
operations totalled 233,190 ounces to June 2004, delivering a cash
operating profit from both operations of US$42.6 million.
Wellesley-Wood said the company`s June quarter results released last
week were testament to the strength of the PNG operations.
`The operating profit generated by our PNG operations this year has
vindicated our decision two years ago to recapitalise Tolukuma and
target Porgera to reduce the impact of the overpriced Rand on our
South African operations.
`The Port Moresby Stock Exchange listing gives potential PNG
investors the simplest, most straight-forward and equitable means to
invest in one of the country`s fastest growing gold producers.`
Local POM SoX director and managing director of PNG based Capital
Stockbrokers, Paul McLaren, welcomed DRD`s inclusion on the exchange
and believed it provided a legitimate opportunity for the company to
make a local share placement to raise capital for DRD`s future
growth in PNG.
`We are delighted DRD has chosen to list on POM SoX. It adds further
exposure for local funds to invest in a company committed to
increasing PNG gold production,` McLaren said.
DRD will be listed on POM SoX as a foreign entity with any shares
issued having a PNG status. While DRD is listed on a number of
exchanges globally, including the JSE Securities Exchange in South
Africa, NASDAQ in the US, the London Stock Exchange, the ASX in
Australia, and four European exchanges, all DRD`s shares can be
traded through brokers on POM SoX regardless of point of issue.
Johannesburg
18 August 2004
Disclaimer
Some of the information in this voluntary release may contain
projections or other forward looking statements regarding future
events or other future financial performance, including statements
regarding the production performance at the South African
operations, and DRD`s ability to diversify its assets and grow
outside South Africa. We wish to caution you that these forward-
looking statements are not guarantees or predictions of future
performance, and involve known or unknown risks, uncertainties and
other factors, many of which are beyond our control and which may
cause actual events or results to differ materially from these
expressed in the statements contained in this release.
Factors that could cause or contribute to such differences are
discussed in the sections entitled `Risk Factors` included in our
annual report on Form 20-F for the fiscal year ended 30 June 2003,
which we filed with the United States Securities and Exchange
Commission on 30 December 2003 and is available on the SEC`s website
at www.sec.gov. We undertake no obligation to publicly update or
release results of any of these projections or forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unexpected results
Queries
South Africa
Investor and Media Relations
Ilja Graulich, Durban Roodepoort Deep, Limited
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)
James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)
Australasia
Investor and Media Relations
Paul Downie, Porter Novelli
+61 893 861 233 (office)
+61 414 947 129 (mobile)
United Kingdom/Europe
Investor and Media Relations
Phil Dexter, St James`s Corporate
+44 20 7499 3916 (office)
+44 779 863 4398
North America
Investor Relations
Susan Borinelli, Breakstone & Ruth International
+1 646-536-7018 (office)
+1 917-570-8421 (mobile)
Media Relations
Jessica Anderson, Breakstone & Ruth International
+1 646-536-7002 (office)
+1 347-423-5859 (mobile)
Date: 18/08/2004 11:15:04 AM
Produced by the JSE SENS Department
