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Press release from Marketwire

Randgold Resources Ld-3rd Quarter Results

Thursday, November 07, 2013

Randgold Resources Ld-3rd Quarter Results

02:11 EST Thursday, November 07, 2013

JERSEY, CHANNEL ISLANDS--(Marketwired - November 06, 2013) -

TSX-GOLDRANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNASDAQ Trading Symbol: GOLDRANDGOLD SHINES IN GOLD PRICE GLOOMLondon, 7 November 2013 - A strong performance by its flagshipLoulo-Gounkoto complex in Mali powered Randgold to an 80% quarter onquarter profit increase for the three months ended September despite a3% drop in the average gold price received over that period.In a quarter that also saw the early commissioning at its giant Kibaliproject in the Democratic Republic of Congo, Randgold increased groupproduction by 19% to 233676ounces and reduced its total cash cost perounce by 17% to US$662/oz on the back of the production rise. Despiteits capital expenditure, mainly on Kibali, peaking during the quarter,the company remained net cash positive.Kibali poured its first gold in September, well ahead of the originaltarget date, and has since started commercial production from its openpit mine. It is expected to exceed its 30000 ounce productionforecast for the fourth quarter of this year and is on track to meetits target of 550000 ounces for 2014. It is currently ramping up tofull capacity on the plant's oxide circuit with the completion of theremaining plant and hydropower stations, and the commissioning of thesulphide circuit, scheduled for next year. The development of theunderground mine is progressing well.Chief executive Mark Bristow said the successful start-up of Kibalirepresented a considerable feat of geology, metallurgy, engineering andlogistics, as well as negotiation and diplomacy."The Randgold team only moved on site in January 2010 and in less thanfour years it has built a world-class gold mine in one of Africa'sremotest regions, in the process more than doubling its reserves to11.6million ounces and increasing its resources to 21million ounces.And while doing this, we have also completed or progressed majorperformance-enhancing capital projects at Loulo-Gounkoto and Tongon,"he said.Click 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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