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Press release from Marketwire

Randgold Resources- 1st Quarter Results and update

Thursday, May 02, 2013

Randgold Resources- 1st Quarter Results and update

02:20 EDT Thursday, May 02, 2013

LONDON--(Marketwired - May 01, 2013) - Randgold Resources (LSE: RRS) (NASDAQ: GOLD)

RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNASDAQ Trading Symbol: GOLDOPTIMISED BUSINESS PLAN KEEPS RANDGOLD'S GROWTH STRATEGY ON TRACKLondon, 2 May 2013 - A planned decrease in the grade mined atGounkoto and a reduction in recoveries due to copper-rich ore from theYalea South pit pushback had a greater than expected impact on theLoulo-Gounkoto complex's performance in the first quarter of the year,but Randgold Resources says its growth strategy remains intact.The company says it reacted promptly to the recent drop in the goldprice, and has reviewed all its operations and projects, with a focuson managing cashflows. At Loulo-Gounkoto, the review has resulted in achange in the mining plan, which reduces the expenditure on capital andoperational development of the underground mines, as well as thebuild-up of lower grade stockpiles, while efficiently feeding the oremined to the plant. The net effect is a small reduction in grade, andconsequently the complex has reduced its anticipated production for theyear from 590 000 to 560 000 ounces. Capital expenditure and workingcapital tied up in stockpiles have each been reduced by aboutUS$20 million.Loulo-Gounkoto's reduced contribution and higher costs, a larger thanusual amount of gold unsold at the end of the quarter and the lowergold price were reflected in Randgold's Q1 results, announced today.Production of 199 013 ounces was down 7% quarter on quarter and profitdropped by 43% to US$81.6 million.RANDGOLD ENQUIRIES:Chief Executive Financial Director Investor & Media RelationsMark 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.comWebsite: on, or paste the following link into your web browser, to viewthe associated PDF document. This information is provided by RNS The company news service from the London Stock ExchangeEND


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