SOURCE: Randgold Resources

May 19, 2010 04:43 ET

Randgold Resources Announces Disposal of 5,000,000 Common Shares in Volta Resources Inc

JERSEY, CHANNEL ISLANDS--(Marketwire - May 19, 2010) - Randgold Resources (NASDAQ: GOLD) sold 5 million common shares in Volta Resources Inc ("Volta") at a price of CAD$1.59 per common share on Wednesday 12 May 2010. The total proceeds payable to Randgold were CAD$7.95 million (US$7.80 million). The cash proceeds received will be used for general corporate purposes.

Randgold acquired 20 million common shares in Volta as part of the consideration received for the sale of the Kiaka project in Burkina Faso to Volta, completed on 20 November 2009. Randgold continues to hold 15.99 million common shares in Volta.

The management of Randgold has no on-going involvement with the Kiaka project or Volta and will continue to categorise the remaining Randgold investment in Volta as available-for-sale financial assets.

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


Contact Information

  • Randgold Resources Enquiries:
    Chief Executive
    Dr Mark Bristow
    +44 788 071 1386
    +44 779 775 2288

    Financial Director
    Graham Shuttleworth
    +44 1534 735 333
    +44 779 614 4438

    Investor & Media Relations
    Kathy du Plessis
    +44 20 7557 7738
    Email: Email Contact