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Press release from Marketwire

Randgold Resources Ld-Q2 results and updates

Wednesday, August 07, 2013

Randgold Resources Ld-Q2 results and updates

02:11 EDT Wednesday, August 07, 2013

JERSEY, CHANNEL ISLANDS--(Marketwired - August 06, 2013) - Randgold Resources Ld (LSE: RRS)


TSX: GOLDRANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNASDAQ Trading Symbol: GOLDRANDGOLD PROJECTS SUSTAINED PROFITABILITY AT LOWER GOLD PRICE LEVELSLondon, 7 August 2013 - Increased production and reduced costs shouldenable Randgold Resources to remain profitable in the face of adecreased gold price, the company said today.Speaking at a presentation on Randgold's quarterly results, chiefexecutive Mark Bristow noted that the company's business model had beendesigned to deliver returns at lower gold prices, and it had thereforenot been forced to write down its reserves as these had been calculatedat US$1 000/oz. Randgold had, however, reviewed all its business plansat the beginning of the year and where necessary aligned them to thedrop in the gold price."Our giant Kibali project is scheduled to start goldproduction inOctober, Loulo and Gounkoto are both accessing higher grade sections intheir orebodies, Tongon is continuing its turnaround and improvedefficiencies across the group have already cut our total cash cost perounce by 5% this past quarter. In addition, projects are underwayacross the group to increase throughput and recoveries and reduce unitcosts further," he said.Randgold was therefore well placed to sustain its profitability, hesaid, albeit not at the levels achieved during the peak in the goldprice.Reflecting the turndown, the reduction of 17% in the average gold pricereceived during the quarter to June impacted on profit for the period,which came down from US$81.6 million in Q1 to US$54.1 million.Production of 196 207 ounces was in line with that of the previousquarter.Click on, or paste the following link into your web browser, to viewthe associated PDF document. 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: This information is provided by RNS The company news service from the London Stock ExchangeEND


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