A correction has been made to the 9 months attributable production and cash costs per ounce at Morila and Group for 2010. The tables affected are "Summarised Financial Information" and "Morila Results" under Operations. All other details remain unchanged. RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD GROWTH PLATFORM CONSOLIDATION CONTINUES WITH FIRST PRODUCTION FROM NEW TONGON MINE London, 9 November 2010 - A materially improving operational performance from its Loulo complex in Mali lifted Randgold Resources' third quarter results and the company said this, together with the start of production by its new mine at Tongon in the Cote d'Ivoire, is expected to spur a significant rise in its fourth-quarter gold production. Q3 results posted today show profit of US$28.2 million, more than doubling that of the corresponding 2009 quarter but down on the previous quarter, which benefited from a US$13 million write-back of auction rate securities. Excluding this write-back, the third quarter profit would have been 20% higher than that for Q2. Profit from mining of US$42.7 million was up 21% on the corresponding 2009 quarter and 4% on the previous quarter. The profit from mining increase was due mainly to higher attributable production for the quarter of 101 468 ounces (Q2: 93 880 ounces), which was partly offset by an increase of 18% to US$73.6 million in total cash costs, largely a reflection of stockpile adjustments at Loulo. Successful remedial action on the Loulo plant increased its throughput by 16% and improved recovery from 91.4% to 94.8%, enabling Loulo to boost production from the second quarter's 70 385 ounces to 78 198 ounces. The plant is now running at or near its full design capacity and this, together with a scheduled grade increase from the open pits and the continued steady improvement in underground production, should deliver further growth in ounces in the fourth quarter. The Morila joint venture, now a stockpile treatment operation, produced 58 174 ounces, broadly in line with plan. In the Cote d'Ivoire, the new Tongon mine poured its first bar of gold yesterday (Monday 8 November). The mine was brought into production on schedule in the face of significant challenges, including a presidential election on 31 October. On the project front, work on the Gounkoto feasibility study, due for completion by the end of this year, has resulted in the doubling of its mineral resources, which at the attributable level now stand at 4.61 million indicated and inferred ounces, while the attributable open pit reserves, calculated at a US$700/oz gold price, have increased by 43% to 1.87 million ounces. Gounkoto is close to Loulo and the plan to develop it as part of that complex is currently being progressed. In the Democratic Republic of Congo, work on the Kibali project also continues to make steady progress, with the updated feasibility study due by the year-end. In the meantime the Resettlement Action Plan, key to the proposed early start-up of construction, is gaining pace. The area where the community is to be resettled has been agreed with the Resettlement Working Group, which represents all interested and affected parties, and the land has been acquired. Model houses have already been built. Chief executive Mark Bristow said during the past quarter the company had dealt effectively with a range of operational challenges while at the same time continuing to build its new growth platform without missing a beat."We are confident that this momentum will be maintained and, with a big improvement in gold production in the fourth quarter, our sights are still firmly set on a 50% increase in our gold output next year. The key drivers of this growth are sustaining the improvement in Loulo's processing capability while accelerating its underground development, getting the new Tongon mine up and running according to plan and achieving first production from Gounkoto. Further down the road is the development of Kibali, followed by Massawa and our other exploration projects," he said."Against this background, we have also taken the steps necessary to ensure that we have the people and structures in place to cope efficiently with all aspects of this complex and rapidly expanding business. The challenge is to continue to grow and re-engineer the team without in any way diluting the strong focus and entrepreneurial spirit which have played such a big part in our success." RANDGOLD RESOURCES ENQUIRIES: Chief Executive Financial Director Investor & Media Relations Dr 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: randgoldresources@dpapr.com Website: www.randgoldresources.com Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/9111V_1-2010-11-9.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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