DRDGOLD is a South African gold producer that extracts gold exclusively from surface tailings and historical mining waste dumps in the Witwatersrand Basin. DRDGOLD uses high-pressure water jets to break down tailings into slurry, processes the material through carbon-in-leach metallurgical plants to recover gold, and sends doré bars to Rand Refinery before selling refined bullion directly to South African bullion banks. As DRDGOLD reclaims and processes tailings, it progressively rehabilitates the underlying land. DRDGOLD operates through two wholly owned subsidiaries: Ergo, which treats tailings across central and eastern Johannesburg, and Far West Gold Recoveries (FWGR) in the Far West Rand. DRDGOLD's business model relies on processing high volumes of low-grade material, and the company remains completely unhedged to retain direct exposure to prevailing spot gold prices and rand/dollar currency movements. Key operational drivers include throughput volume, metallurgical yield, and unit costs for power, reagents, and labor. DRDGOLD is currently expanding FWGR's processing and deposition capacity through its Vision 2028 capital program, increasing long-term storage capacity at Ergo, and evaluating opportunities to export its surface retreatment model to other mining jurisdictions.