Jersey, Channel Islands--(Marketwire - July 25, 2007) -
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
MORILA INVESTS SUBSTANTIALLY IN HUNT FOR MORE GOLD
Morila, Mali, 25 July 2007 - The Morila gold mine, a partnership between
Randgold Resources, AngloGold Ashanti and the government of Mali, is continuing
to invest substantially in exploration for further economic gold deposits within
its lease area, says Randgold Resources chief executive Mark Bristow.
The partnership spent US$4.5 million on exploration in 2006 and this year has
budgeted a further US$6.5 million for a 53 000 metre drilling programme within
Morila's 200 km(2) lease area. The aim of this exploration is to extend the
mine's resource base and hence its life beyond the current 2012 horizon.
Bristow told journalists at a media day that Morila exemplified two of Randgold
Resources' core beliefs: that true value is created through discovery and
development; and that sustainable mining operations require a mutually
beneficial relationship between mining companies and their host countries.
He noted that Morila - which was discovered, financed and developed by
Randgold Resources - had made an enormous contribution of some 354 billion
FCFA to the Malian economy since it went into production in October 2000.
"This great mine has already produced 4.4 million ounces of gold. Along with
our partners, AngloGold Ashanti and the Malian Government, Randgold Resources is
committed not only to ensuring that it continues to produce at optimal capacity
for the duration of its planned life but that its entire lease area is
intensively explored to determine if any further economic gold mineralisation is
present," he said.
"Morila's success would not have been possible without the support of Mali's
government and people. In fact, Randgold Resources' experience at Morila has
been so positive that it has encouraged us to develop another major gold mine in
Mali. Our Loulo mine is already producing some 250 000 ounces of gold per year
from two open-pit operations and we are now developing the first of two
underground mines there which will elevate the project to true world-class
status."
RANDGOLD RESOURCES ENQUIRIES:
Chief Executive Officer Investor & Media Relations
Dr Mark Bristow Kathy du Plessis
+223 675 0122 +27 11 728 4701
+44 788 071 1386 Cell: +27 83 266 5847
+44 779 775 2288 randgoldresources@dpapr.com
Website: www.randgoldresources.com
DISCLAIMER: Statements made in this document with respect to Randgold Resources'
current plans, estimates, strategies and beliefs and other statements that are
not historical facts are forward-looking statements about the future performance
of Randgold Resources. These statements are based on management's assumptions
and beliefs in light of the information currently available to it. Randgold
Resources cautions you that a number of important risks and uncertainties could
cause actual results to differ materially from those discussed in the
forward-looking statements, and therefore you should not place undue reliance on
them. The potential risks and uncertainties include, among others, risks
associated with: fluctuations in the market price of gold, gold production at
Morila, the development of Loulo and estimates of resources, reserves and mine
life. For a discussion on such risk factors refer to the annual report on Form
20-F for the year ended 31 December 2006 which was filed with the United States
Securities and Exchange Commission (the 'SEC') on 25 June 2007. Randgold
Resources sees no obligation to update information in this release. Cautionary
note to US investors: the 'SEC' permits companies, in their filings with the '
SEC', to disclose only proven and probable ore reserves. We use certain terms
in this release, such as "resources", that the 'SEC' does not recognise and
strictly prohibits us from including in our filings with the 'SEC'. Investors
are cautioned not to assume that all or any parts of our resources will ever be
converted into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.
This information is provided by RNS
The company news service from the London Stock Exchange