DRDGold plunges to R63m Q1 loss in ‘conspiracy’ of challenges
October 22, 2009 by goldguru · Leave a Comment
JSE-and Nasdaq-listed gold miner DRDGold has plunged into a R63,3-million net loss in a September quarter of seismic, labour and currency challenges.
"There was almost a conspiracy of challenges in the last few months," DRDGold CEO Niel Pretorius said of the company’s underground Blyvoor gold mine.
While he believed that Blyvoor would emerge from its litany of seismic and labour problems, Pretorius hinted that Blyvoor could go the same way as East Rand Proprietary Mines (ERPM), which DRDGold has closed: "When ERPM started becoming a risk to the entire group, we closed the oldest operating gold mine in South Africa."
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