durban roodepoort deep, limited · grade trend for the six months oct 2000 – march 2001 at north...

15
DURBAN ROODEPOORT DEEP, LIMITED Quarterly results for the quarter ended March 2001

Upload: others

Post on 12-Aug-2020

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

DURBAN ROODEPOORT DEEP, LIMITED

Quarterly resultsfor the quarter ended March 2001

Page 2: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

DRD is an independent gold producer focussing on extending mine lives safely and profitably

Page 3: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

March Quarter achievements

Costs contained in absolute terms

Balance sheet improvements continue

Vendor reductions: from 7 000 → 2 500 at 31 March 2001; target < 1 000

Blyvoor Expansion Programme optimised

But, lower gold production (-9%)

Page 4: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Group Gold ProductionGold production for the six months Oct 2000 – March 2001

Kg (‘000) oz (‘000)

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Oct-00 Nov-00 Dec-00 Jan-01 Feb-01 Mar-010

20

40

60

80

100

Page 5: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Recovered Grade TrendsGrade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t)

5.5

6.0

6.5

7.0

Oct-00 Nov-00 Dec-00 Jan-01 Feb-01 Mar-011.5

2.0

2.5

3.0

Underground Average (incl. surface sources)

Underground Average (incl. surface)

Page 6: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Recovered Grade TrendsGrade trend for the six months Oct 2000 – March 2001 at Blyvooruitzicht Mine (g/t)

5

6

7

8

9

10

Oct-00 Nov-00 Dec-00 Jan-01 Feb-01 Mar-012.0

2.5

3.0

Underground Average (incl. surface sources)

Underground Average (incl. surface)

Page 7: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Operational Breakdown

New milling programme

Main Reef expansion

Steady state

Resource potential

20.9

1.4

10.8

15.4

241

254

233

161

142 363

51 280

41 570

17 168

N West*

Blyvoor

Crown**

Tolukuma

Comment

Cash operating

profit Rm

Costs

$/oz

Production ounces

(troy)

*North West Operations include Hartebeestfontein and Buffelsfontein Operations** Crown Operations include the West Wits Operation

Page 8: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Lowering CostsCash operating costs: Dec 1997 – March 2001

US$/oz

200

220

240

260

280

300

320

340

Dec'97

Jun'98

Dec'98

Jun'99

Dec'99

Jun'00

Dec'00

Mar'01

Salary Increases

Page 9: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Cash Profit after Capex

-10

-8

-6

-4

-2

0

2

4

Dec-99 Mar-00 Jun-00 Sep-00 Dec-00 Mar-01

$m

Page 10: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Hedge Book Impact on PV

Page 11: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0
Page 12: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

Investment Focus

Cash Cash on hand of R129m ($16m)

Closure of loss-makers

Closure of West Wits (44kg/m) dump re-processing

Sale of non-core assets

Disposal of Mine Waste Solutions

Growth Tolukuma exploration results encouraging

Returns2001 / 2002 budget calling for 18% ROIC

Page 13: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

DRD

Page 14: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

www.durbans.com

The world’s most leveraged gold company

0.7

0.9

1.1

1.3

1.5

1.7

1.9

01/0

1/02

01/0

1/09

01/0

1/16

01/0

1/23

01/0

1/30

01/0

2/06

01/0

2/13

01/0

2/20

01/0

2/27

01/0

3/06

01/0

3/13

01/0

3/20

01/0

3/27

01/0

4/03

01/0

4/10

01/0

4/17

DROOY - Indexed Gold Price - Indexed

Page 15: DURBAN ROODEPOORT DEEP, LIMITED · Grade trend for the six months Oct 2000 – March 2001 at North West Operations (Hartebeestfontein & Buffelsfontein Mines) (g/t) 5.5 6.0 6.5 7.0

END