JERSEY, CHANNEL ISLANDS--(Marketwired - Nov 6, 2014) - Randgold Resources (
NASDAQ: GOLD
LSE: RRS
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
ROBUST Q3 RESULTS POINT WAY TO RECORD YEAR FOR RANDGOLD
London, Thursday 6 November 2014 - The ongoing ramp-up of the Kibali
mine led a strong overall performance by all of Randgold's operations
in a quarter in which production reached a new record level and costs
were well contained.
Results for the three months to September, released today, show
production of 299 320 ounces, up 8% on the previous quarter.
Production for the first nine months of the year was up 37% on the
comparable period in 2013, reflecting Kibali's contribution and the
impact of expansion and upgrade projects at the other operations.
Total cash cost per ounce of $692/oz was well contained, down 1% on
the previous quarter.
Earnings per share increased by 11% to $0.63 quarter on quarter but
profit was affected by foreign exchange adjustments and at $66.0
million was just marginally ahead of the previous quarter. Profit from
mining of $172.6 million was up 6% quarter on quarter. By the end of
the quarter, Randgold had returned to its debt-free status, having
repaid its revolving credit facility.
Kibali is nearing operational stability as it continues to ramp up
mining and production, and the operation is well on its way to
achieving its goal of delivering an average of 650 000 ounces per year
over the next 10 years, chief executive Mark Bristow said. The mine
produced 145 152 ounces in Q3, substantially up on Q2's 91 137 ounces.
Production at the group's flagship Loulo-Gounkoto complex was 8% down
at 160 286 ounces but Bristow said it was still on track to exceed its
2014 guidance of 640 000 ounces.
RANDGOLD ENQUIRIES:
Chief Executive Financial Director Investor & Media Relations
Mark Bristow Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333 +44 20 7557 7738
+44 779 775 2288 +44 779 771 1338 Email:randgold@dpapr.com
Website: www.randgoldresources.com
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