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.
Tongon increased quarter on quarter production by 22% to 63 832 ounces
on the back of improved mill feed grade, gold recovery and mill tonnage
throughput, and total cash cost per ounce was reduced by 15% to $799.
Bristow said the improved performance was attributable to the upgrade
and expansion measures taken by Tongon and an intensified focus on
efficiencies. Preliminary drilling has identified an additional 450
000 ounces of resources at the mine."With production standing at 860 366
ounces at the end of September, we're well on our way to passing the
million-ounce landmark before the end of this year. It's been another
challenging quarter but our operations have done well and it's
particularly gratifying to note that despite the growth of the scale
and complexity of our operations, our safety record continues to
improve," Bristow said."It's also a good feeling to be back in the black
after repaying our revolving credit facility. We're still growing our
existing businesses and our recently restructured and reinforced
exploration team is out in the field hunting for additional ounces and new
opportunities."
Bristow said while the Ebola outbreak in West Africa had not directly
affected Randgold's mines, the group had mounted an extensive campaign
to protect its employees and host communities against the disease.
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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REPORT FOR THE SECOND QUARTER ENDED 30 JUNE 2014
* Record gold production up 8% quarter on quarter and 37% for 9 months
year on year
* Total cash cost/oz down 1% quarter on quarter and down 8% for 9
months year on year
* Profits in line with Q2 on the back of improved gold production
offset by foreign exchange losses
* Group repays RCF and has no borrowings following strong cashflow from
operations
* Loulo-Gounkoto complex on track to beat year end production guidance
* Kibali posts significant improvement on back of ongoing ramp up
* Tongon starts to deliver on recovery plan
* Tongon preliminary drilling adds 450 000oz of resources in Southern
Zone
* New exploration manager picks up on Randgold's mission to grow
through discovery and development
* Year to date safety record improves despite challenging Q3
Randgold Resources Limited ('Randgold') had 92.7 million shares in
issue as at 30 September 2014.
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END
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