SOURCE: Randgold Resources Ld

August 09, 2012 02:00 ET

Q2 results and update

JERSEY, CHANNEL ISLANDS--(Marketwire - Aug 9, 2012) -

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


London, 9 August 2012- Driven by strong contributions from all its
operations, Randgold Resources posted a 41% increase in profit to
USD245.9 million for the six months to June, boosting basic earnings
per share for the half-year by 32% to USD2.25. Profit for the second
quarter of USD141.9 million was up 36% on the previous quarter.

With a record performance from Randgold's flagship Loulo-Gounkoto
complex, production for the quarter increased by 27% to 210 534 ounces
against the previous quarter's 165 443 ounces. Production for the
half-year was also up 16% at 375 977 ounces (six months to June 2011:
324 114 ounces). While total cash cost per ounce of USD723 for the six
months was up 6% year on year, reflecting the higher cost of production
at Tongon in the first six months, total cash costs for the quarter
were USD703/oz, down 6% from the previous quarter, supporting a trend
to lower cash costs on the back of higher grades and increased

Chief executive Mark Bristow said in a solid operational quarter
Randgold had also continued to advance the development of the giant
Kibali gold project in the Democratic Republic of Congo. Construction
of the processing plant and the first hydropower station as well as
open pit mining and underground development were now underway and on
track for first production towards the end of next year. In another
significant development, the Gounkoto mine repaid all its capital in
its first year of production and declared a maiden dividend of USD65.1
million."The most outstanding achievement of the quarter, however, was that
the Loulo-Gounkoto complex, which set new records in profit, production
and underground development while continuing to reduce costs and
reaching one million Lost-Time Injury-Free hours. Despite the
political crisis in Mali during the quarter, the complex's production
reached a new high of 132 481 ounces, with the plant processing a
record one million tonnes and the Yalea underground development
stepping up to 1 000 metres per month, another record. Set to deliver
500 000 ounces in 2012, the complex is now poised to take its place as
one of the largest gold producers in Africa," he said.

Randgold's Tongon mine in Cote d'Ivoire also showed a steady increase
in production after successfully negotiating the tricky transitional
zone of the orebody. Ore treated rose from 756 kilo-tonnes to
853kilo-tonnes quarter on quarter, with production rising from 47 141
ounces to 56 432 ounces quarter on quarter. The plant is scheduled to
reach its designed sulphide processing capacity during the third
quarter."While we have a very full operational and developmental load at
present, our focus still remains fixed on the future," Bristow said."Our
capital projects team is well on the way to building our next
mine and the exploration teams continue to feed new prospects into our
project pipeline, working to ensure that we have the organic resources
to maintain our growth momentum. We are also looking at the
opportunities that are being created by the current dynamics of the
gold mining industry, particularly in the junior sector. In any event,
we are well positioned not just to deliver but to keep on delivering."

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Chief Executive  Financial Director  Investor & Media Relations
Mark 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: 


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