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THE ROCKET TAKES OFF

9th September 2016

By: Martin Creamer

Creamer Media Editor

  

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The ‘R’ in DRDGold stands for Roodepoort, which led to DRDGold being nicknamed the Roodepoort Rocket, because the DRDGold share price took off every time the gold price ticked up. It started doing that again following last year’s Nenegate and then after this year’s Brexit. It did so to such an extent that its market capitalisation went from R700-million to R3.7-billion in a matter of months. Backed by good throughput at DRDGold’s tailings retreatment plant at Ergo, on the East Rand, the Roodepoort Rocket is now in need of holding its course as Federal Reserve chair Janet Yellen ponders the case of a rise in short-term interest rates in the US and the company depletes a tailings dam site on the West Rand and moves to a new one that will be cheaper to mine.

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