Friday, 20th August 2004 (3025 views)

Durban Roodepoort Deep (DRD) has announced it listed on the Port Moresby Stock Exchange (POM SoX) yesterday.

The South African gold miner claims the move is a reflection of the company's growth and its commitment as one of Papua New Guinea's (PNG) major gold producers.

DRD executive chairperson Mark Wellesley-Wood said: "The Port Moresby Stock Exchange listing gives potential PNG investors the simplest, most straightforward and equitable means to invest in one of the country's fastest-growing gold producers."

Last week the business released its June quarter results, revealing a cash operating profit of $42.6 million.

DRD is the ninth largest gold producer in the world and produces nearly a million ounces of gold each year from its South African, PNG and Fijian operations.

As it entered the stock exchange, the company listed five million shares, at an opening price of K6.35.

 

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