JERSEY, CHANNEL ISLANDS
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
OVERCOMING EXTRAORDINARY CHALLENGES, RANDGOLD DELIVERS RECORD 2012
Cape Town, 4 February 2013 - Randgold Resources achieved record
production and profit levels in 2012 while dealing with a range of
challenges associated with the expansion of its flagship Loulo-Gounkoto
complex in Mali, the fast-track development of the giant Kibali project
in the Democratic Republic of Congo, operational problems at the Tongon
mine in Cote d'Ivoire and the general turmoil in Mali.
Results for the fourth quarter and the full year, published today, show
profit for the year up 16% at US$511 million and production up 14% at
794 844 ounces of gold. Quarter on quarter, profit increased by 18%
and production by 5%. Cash and gold on hand at the year end amounted
to US$403 million despite capital expenditure of US$563 million, mainly
on the Kibali project. The board has proposed a 25% increase in the
annual dividend to 50 US cents for shareholder approval at the annual
Loulo exceeded its production target for the year, delivering
503 224 ounces on the back of the accelerated development of its Yalea
and Gara underground mines and a ramp-up in plant throughput following
the successful commissioning of a third mill. The Morila joint venture
also beat its forecast with annual production of 202 513 ounces. A pit
pushback project has been approved subject to certain conditions, with
mining due to start in Q2 this year. This is expected to extend the
life of the operation.
Tongon's production slipped from 250 390 ounces in 2011 to
210 615 ounces, mainly as a result of frequent outages in the grid
power supply, which caused disruptive plant stoppages and process
upsets as well as lower than planned recoveries. This situation was
exacerbated by a fire in the milling circuits. The plant was restored
to full production by the end of January and the power and recovery
problems are being addressed.
Click on, or paste the following link into your web browser, to view
the associated PDF document.
This information is provided by RNS
The company news service from the London Stock Exchange
© 2015 Canjex Publishing Ltd. All rights reserved.