JERSEY, CHANNEL ISLANDS--(Marketwire - November 10, 2009) - Randgold Resources (
LSE:
RRS)
(
NASDAQ:
GOLD) is to fast-track its Gounkoto project after a scoping study
and first resource declaration confirmed robust economics well in excess of
the company's hurdle rates.
A prefeasibility study on the project, situated just 25 kilometres south of
the company's flagship Loulo complex in Mali, has been scheduled for
completion by the end of the first quarter of 2010. The scoping study
estimated an inferred mineral resource of 2.65 million ounces at a grade of
6.3g/t, with pit optimisations at gold prices of US$650/oz and US$850/oz
both showing internal rates of return in excess of 60%.
Gounkoto joins a project line-up which also includes the Tongon mine in
Côte d'Ivoire, currently being built and due for first production in the
fourth quarter of 2010; Massawa in Senegal, where a prefeasibility study
will be completed before the end of this year; and Kibali (formerly known
as Moto) in the Democratic Republic of Congo, recently acquired in
partnership with AngloGold Ashanti.
Chief executive Mark Bristow said that while 2009 was, as expected, proving
to be a tough operating year for the company - which is substantially
expanding its flagship Loulo complex and has converted the Morila joint
venture into a stockpile treatment operation - it was also producing some
very significant rewards thanks to outstanding delivery from its
exploration and project teams and success on the new business front.
Website:
www.randgoldresources.com
Click on, or paste the following link into your web browser, to view the
associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1828C_1-2009-11-9.pdf
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
Contact Information: RANDGOLD RESOURCES ENQUIRIES:
Chief Executive
Dr Mark Bristow
+44 788 071 1386
+44 779 775 2288
Financial Director
Graham Shuttleworth
+44 779 614 4438
+44 1534 735 333
Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: