JERSEY, CHANNEL ISLANDS--(Marketwired - May 8, 2014) - (
RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS NASDAQ Trading Symbol: GOLD ROBUST Q1 PERFORMANCE SETS PACE AS RANDGOLD CHASES DOWN 2014 TARGET London, 8 May 2014 - A robust first quarter performance got Randgold Resources off to a strong start as it set out to crack the million-ounce production mark for the year. Results for the three months to 31 March, published today, show the company produced a record 283 763 ounces, boosted by an increased contribution from Kibali. Kibali began commercial production in October last year and started commissioning its second sulphide mill circuit during the past quarter. The mine was officially opened by Democratic Republic of Congo's Minister of Mines Martin Kabwelulu last week. Gold sales of $363 million were up quarter on quarter, following a 3% increase in the average gold price received, and on the corresponding prior year quarter despite a 21% drop in the average gold price received. Total cash cost per ounce of $685 was up 9% quarter on quarter but down 19% on the corresponding prior year quarter on the back of the ramp-up of production at Kibali and significantly higher grades and recovery at the Loulo-Gounkoto complex in Mali. Profit from mining decreased by 4% quarter on quarter to $171 million, due to the increase in costs, but was up 14% on the corresponding quarter in 2013. Operationally Loulo's underground mines sustained their increasing delivery with another record output by both Yalea and Gara. Production and development at Kibali were on target. Tongon in Cote d'Ivoire again struggled with a below par throughput rate as the Vibrocone crushers, intended to address this issue, continued to experience mechanical failures. Chief executive Mark Bristow said overall Randgold's operations and development projects had both performed well and the company's total cash cost and production guidance for the year remained intact."We have looked closely at our mines to ensure that they will still be profitable at $1 000/oz and we'll continue to review all operations against a range of gold price scenarios. We have a solid 2014 budget in place and we have effectively banked our five-year plan. Our focus is now on rolling this out over a 10-year period," he said. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/5372G_1-2014-5-7.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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