RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
("Randgold")
RANDGOLD RESOURCES LIMITED ANNOUNCES SALE OF KIAKA PROJECT LICENSE TO
VOLTA RESOURCES LIMITED IN EXCHANGE FOR CASH AND COMMON SHARES OF VOLTA
London, United Kingdom, 20 November 2009 - Randgold Resources
Limited ("Randgold") today announced that it completed, pursuant to an
acquisition agreement dated October 15, 2009 between Randgold and Volta
Resources Inc ("Volta"), its previously announced sale of its interest
in the Kiaka license, camp assets and licence data to Volta in exchange
for cash consideration of CUSD4,000,000 and an aggregate of 20,000,000
common shares of Volta ("Common Shares"). As a result of this
transaction, based on publicly available information, Randgold will
hold 20,000,000 Common Shares, representing approximately 27.3% of the
issued and outstanding Common Shares, acquired pursuant to an asset
acquisition exemption under applicable securities laws. All of the
shares have been placed in escrow pending proof of recordation of the
licence comprising the Kiaka Gold Project into Volta's name. The cash
consideration will be paid in equal instalments on the dates that are
6, 12, 18 and 24 months following the closing date.
The Common Shares were acquired by Randgold for investment
purposes. Randgold may from time to time increase or decrease its
holdings of Common Shares or other securities of Volta.
For further information, or to obtain a copy of Randgold's early
warning report filed under applicable securities laws, please contact:
Randgold Resources Limited
La Motte Chambers
La Motte Street
St Helier
Jersey JE1 1BJ
Channel Islands
RANDGOLD RESOURCES ENQUIRIES
Dr Mark Bristow Graham Shuttleworth
Chief Executive Financial Director
Tel: +44 788 071 1386 Tel: +44 779 614 4438
Tel: +44 779 775 2288 Tel: +44 1534 735 333
Kathy du Plessis
Investor & Media Relations
Tel: +44 20 7557 7738
Email: randgoldresources@dpapr.com
Website: www.randgoldresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
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