high they will lose Bvyoor, which is their last active mine,
apart from their surface dump operation. The market could
perceive it as they are out of reserves. Drooy came down
from being a 1.1 Moz Producer to 250KOz produce this decade
due to losses, mine losses, etc. They don't have many mines
left, this is the last one, apart from surface production.
Technically, they own more, but these were, too, closed due
to high costs.
No doubt the stock will tank if they have to close it or liquidate
it. It's not a given, but the probability is high, since it
is very unprofitable. In general, statistics for someone to
come out of Judicial management is not good in SA. For a while
I had to read what it actually means, and it is a similar process
to US Chapter 11. Not good at all. The company was making money
for a few quarters, but, apparently, it is going through a
difficult time, and if gold postpones the manic phase for a
year, they may go under. While I am confident gold is going to
go manic, and DROOY will be an excellent stock then, I am not
so sure it will do this right this moment. If it doesn't, this
CO is dangerously close to going under due to all mishaps.
Recent DRD News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/02/2023 12:09:51 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/31/2023 06:46:05 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/30/2023 08:47:53 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/24/2023 10:26:59 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/18/2023 04:33:34 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2023 03:56:37 PM
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