DRD Gold Laggard but ready to shoot up - R24.65W Formation is forming on DRD Gold.
It's been a slow process, considering how many gold stocks have been outperforming the index itself.
But we are seeing signs that it's nearly DRD Gold time to shine...
The price is close to the neckline which needs to breakout. We also need to see a confirmed close and strong move above the 200MA.
The target remains at R24.65
ABOUT THE COMPANY
1. Company Overview:
DRD Gold Limited is a South African gold mining company.
DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment.
The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa.
2. Operations:
DRD Gold's primary operations are centered around gold recovery from surface tailings.
The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps.
Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining.
This area is known for having some of the most substantial gold deposits in the world.
3. Focus on Tailings:
The company is known for its expertise in the retreatment of gold-bearing surface tailings.
4. Location:
The company's operations are likely to be situated in the Witwatersrand Basin in South Africa, a region historically rich in gold deposits.
