SOURCE: Randgold Resources Ld

February 08, 2010 02:00 ET

Randgold Resources Announces Q4 results and update

JERSEY, CHANNEL ISLANDS--(Marketwire - February 8, 2010) -


RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD



PROFIT, PRODUCTION AND RESERVES SOAR IN RECORD YEAR

London, 8 February 2010 - Randgold Resources (LSE: RRS) (Nasdaq: GOLD)
crowned a year in which it expanded its flagship Loulo operation,
progressed the development of a new mine at Tongon, advanced two major
new discoveries and completed the Moto acquisition by posting a 79%
year-on-year profit increase on the back of record production at Loulo.

Results for 2009, published today, show a profit of US$84.3 million
(2008: US$47 million) for the year. The fourth quarter profit of
US$38.7 million was up 185% quarter-on-quarter and 315% up on the
corresponding quarter in 2008. Given the profit increase, the board
increased the annual dividend by 30% to 17 US cents per share. The
company's balance sheet remains strong, with US$590 million in cash and
no net debt.

Attributable group gold production for the year was up 14% at 488 255
ounces, boosted by a strong fourth quarter performance from Loulo,
where the recently completed plant expansion significantly increased
throughput. Loulo's production for the year was 351 591 ounces (2008:
258 095 ounces), of which 106 564 ounces came in the last quarter. The
Morila joint venture - successfully converted to a stockpile
retreatment operation at the beginning of 2009 - produced 341 661
ounces, slightly higher than forecast due to better than planned
recoveries and grade.

The prefeasibility study on the Massawa project in Senegal was
completed, delivering a reserve of 1.5 million ounces at a grade of
4.6g/t and pointing to more upside. The board approved the study which
demonstrated that even without the underground resources it meets the
company's investment hurdle rates. It has now moved into the
feasibility phase, while the prefeasibility study on the Gounkoto
project near Loulo in Mali is on track for completion in the first
quarter of 2010. The initial scoping study on Gounkoto defined a
robust resource at a significant grade.

The new projects, combined with a resource conversion drive, have
increased attributable group reserves by an estimated 60%. An updated
reserve and resource statement will be published with the company's
annual report in March.

In the meantime, the development of the Tongon project in Cote d'Ivoire
has continued to make good progress and the new mine is on track to
start production in the fourth quarter of this year. At Loulo, the
Yalea underground mine is still being developed but contributed a
record 57 000 tonnes of ore in the December month. Work on Gara, the
second underground mine at Loulo, is scheduled to start during the
first half of 2010.

The company today also announced that it was moving the target date for
first production at the recently acquired Kibali project in the
Democratic Republic of Congo ahead to January 2014. Randgold will
manage the project - a joint venture with AngloGold Ashanti - in which
it has a 45% interest, with the DRC parastatal OKIMO holding the
remaining 10%.

An update of the existing data on Kibali has produced a 23% increase in
the indicated resource, which now stands at 13.93 million ounces, while
the reserves have grown by 67% to 9.2 million ounces. The company is
now focusing on the relocation programme, the environmental and social
impact baseline studies, and the optimisation of the development
schedule.

Chief executive Mark Bristow said the year had been an extremely
challenging one, in which the Randgold team had to meet ambitious
production targets while expanding Loulo, building Tongon, moving ahead
on Massawa and Gounkoto, and swiftly completing the contested
acquisition of Moto - one of the gold mining industry's more complex M&
A transactions in recent years - before acquiring an additional 20% of
the Kibali project on behalf of the joint venture."The team rose to the
challenge and, as our results show, we did very
well in every sphere of the business, once again creating real value
for all our stakeholders," he said."The year ahead is going to be another
testing one, in which we aim to
increase production at Loulo further, pour first gold at Tongon and
progress the Kibali, Massawa and Gounkoto projects. We'll also be
maintaining our strong focus on the exploration programmes which have
already delivered so much and will continue to be the main driver of
our organic growth."



RANDGOLD RESOURCES ENQUIRIES:

Chief Executive  Financial Director  Investor & Media Relations
Dr Mark Bristow  Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 779 614 4438    +44 20 7557 7738
+44 779 775 2288 +44 1534 735 333    Email: randgoldresources@dpapr.com
Website: www.randgoldresources.com



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REPORT FOR THE FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2009


KEY PERFORMANCE INDICATORS

- Profit up 79% year on year
- Profit up 185% quarter on quarter and 315% on corresponding
  quarter in 2008
- Balance sheet remains strong with US$590 million in cash
  and no net debt
- Group production up 14% year on year on the back of record
  production at Loulo
- Tongon project on track for early Q4 2010 production
- Massawa prefeasibility delivers 1.50Moz of reserves at
  4.64g/t and points to more upside
- Gounkoto prefeasibility study on track for Q1 completion
- New projects and resource conversion drive a 60% increase
  in group attributable reserves
- Moto acquisition completed and JV interest in Kibali
  project increased to 45%
- Kibali reserves increased by 67% to 9.2Moz - first
  production targeted for 2014
- Dividend increased by 30%



Randgold Resources Limited ("Randgold") had 90.1 million shares in
issue as at 31 December 2009




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