Calgro profits +30% plus; DRD Gold sells ERPM for R202m

SENS at a Glance

Friday, 5 December 2014

• Calgro M3 (mkt cap: R1.2bn) trading update for year to end February 2015: HEPS to increase by over 30% from 83c. Announces commencement of the South Hills (R1.95bn – Gauteng) and Belhar (R1.2bn – Western Cape) projects. To read Craig Martin's recent analysis of the company, click here.

• DRD Gold (mkt cap: R875m) sale of underground and prospecting rights owned by its ERPM subsidiary: Sale price is R202m which after tax, rehabilitation and other costs results in R126.6m being attributable to the company. Tangible nav rises from 324c to 360c per DRD share.