SOURCE: Randgold Resources Ld

May 05, 2011 02:08 ET

Randgold Resources - 1st Quarter Results

JERSEY, CHANNEL ISLANDS--(Marketwire - May 5, 2011) -

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


London, 5 May 2011 - Despite the political crisis in Coted'Ivoire and
the underground re-engineering of its flagship Loulo complex, Randgold
Resources (Randgold) again posted substantial profit and production
gains for the first quarter of 2011.

Profit of US$45.9million was up 43%quarter on quarter and 92% on the
corresponding quarter of 2010 while gold production of 139403ounces
showed a 6% increase on the previous quarter and was 24% higher than
the corresponding 2010quarter. In the light of 2010's good financial
results, the board had recommended an increased dividend of 20UScents
per share (2009:17c) and its proposal was endorsed by shareholders at
the annual general meeting earlier this week.

Chief executive Mark Bristow said in an all-round solid first quarter
performance, the star of the show had been the recently commissioned
Tongon mine, which had excelled in all respects in very difficult
circumstances."Throughout the disruption caused by the post-election
turmoil in
Coted'Ivoire - now fortunately settled - Tongon continued to operate
to plan, producing 54968ounces at a total cash cost of US$411/oz for
the quarter. Gold production was nearly double that of the previous
quarter, when the mine was commissioned: ore mined was above plan and
mill throughput was ramped up from 169000tonnes in January to
278000 tonnes in March. The plan for the second quarter is to
continue feeding the mills with oxide material and manage the ramp up
along with the transition to sulphide ore feed and the completion of
the hard rock crusher circuit scheduled for the end of the second
quarter," Bristow said."As expected, Tongon has had an immediate positive
impact on our group
production and cost profile, and this will continue as the operation
ramps up to its design capacity."


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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