durban roodepoort deep, limited · grade trend for the six months oct 2000 – march 2001 at north...
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DURBAN ROODEPOORT DEEP, LIMITED
Quarterly resultsfor the quarter ended March 2001
DRD is an independent gold producer focussing on extending mine lives safely and profitably
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%)
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
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)
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)
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
$/oz
Production ounces
(troy)
*North West Operations include Hartebeestfontein and Buffelsfontein Operations** Crown Operations include the West Wits Operation
Lowering CostsCash operating costs: Dec 1997 – March 2001
US$/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
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
Hedge Book Impact on PV
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
DRD
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
END