SOURCE: Randgold Resources Ld

March 31, 2011 06:06 ET

Randgold Resources - Annual Financial Report

JERSEY, CHANNEL ISLANDS--(Marketwire - March 31, 2011) -


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


RANDGOLD FORECASTS SIGNIFICANT PRODUCTION INCREASES AND UNIT COST
REDUCTIONS

London, 31 March 2011 - Randgold Resources is projecting significant
production increases and reductions in cash cost per ounce driven by
forecast improvements in grade and new mine developments over the next
five years, says chief executive Mark Bristow in the company's annual
report for 2010, published today.

Group production for 2011 was expected to increase by more than 70%
over 2010 to between 750000 and 790000 ounces of gold, and management
was targeting total cash costs, after royalties and taxes, of less than
US$600/oz, Bristow said. The recently commissioned Tongon is scheduled
to produce 260000 to 270000 ounces while the Loulo complex's
production is expected to be 420000 to 440000 ounces, of which some
120000 ounces will be contributed by the new Gounkoto mine development
in the latter half of the year. The Morila joint venture should
produce 200000 to 210000 ounces.

Bristow cautioned, however, that this forecast was subject to exchange
rates and input costs remaining at last year's levels, and to the
political impasse in Cote d'Ivoire not impacting to a greater extent on
the Tongon mine. He also said that the company's focus on efficiencies
and costs would have to be even tighter than usual, particularly in the
first half of the year.

Reviewing the past year, Bristow said it had been even more challenging
than anticipated but despite some daunting operational and political
obstacles, the company had increased its profit by 43%. "More
importantly, it kept intact its strategy of creating real stakeholder
value in the African gold industry, delivered on some very demanding
objectives and remained firmly on course to achieve its future growth
targets," he said.

Among the past year's major achievements he listed the rapid
development of Gounkoto as a major mine; the successful commissioning
of Tongon in a highly disrupted environment; continued progress on the
Kibali project, which has been rescoped as a significantly larger
operation; and a more than 5% increase in mineral resources and
reserves calculated at US$800/oz and US$1 200/oz respectively after
depletion at an attributable group level, generated by ongoing
exploration.

Also in the annual report, chairman Philippe Lietard says the company
has been giving considerable attention to expanding its top team,
strengthening its structures and building leadership capability."In growing
our personnel, however, we are very mindful of the need to
preserve the company's essentially entrepreneurial spirit: increased
size will never be allowed to dilute the corporate DNA that
distinguishes Randgold from its peers," he said.

Lietard noted that one of the cardinal principles of Randgold's
partnership philosophy was that its host countries' share of the value
created by its activities should be used not to reward a small elite
but to help build sustainable economies capable of generating welfare
for all. "The latest political changes we are now beginning to see in
Africa may well create fresh opportunities in new countries for the
development of more such partnerships in an atmosphere of transparency
and trust," he said.

The annual report has been posted to shareholders and is available for
viewing and/or downloading at www.randgoldresources.com. Once Randgold
has filed its Form 20-F report for the 12 months ended
31 December 2010 with the US Securities and Exchange Commission ('SEC')
later today, that report will also be published on the company's
website. A copy of the annual report has been submitted to the
National Storage Mechanism and will shortly be available for inspection
at www.Hemscott.com/nsm.do. Shareholders can download a copy of the
Proxy Form from the company's website and those wishing to appoint a
proxy via the CREST system should do so via the issuer's agent (ID
number 3RA50). Details regarding the submission of proxies can be
obtained from the Notes to Proxy page, also on the website at
www.randgoldresources.com.



RANDGOLD RESOURCES ENQUIRIES

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: randgoldresources@dpapr.com


Website:www.randgoldresources.com


ABOUT RANDGOLD

Randgold Resources Limited (Randgold) is an African focused gold mining
and exploration company with listings on the London Stock Exchange and
on Nasdaq. Major discoveries to date include the 7.5 million ounceMorila
deposit in southern Mali, the 7 million ounce Yalea deposit and
the 5 million ounce Gounkoto deposit, both in western Mali, the 4
million ounce Tongon deposit in the Cote d'Ivoire and the 3 million
ounce Massawa deposit in eastern Senegal.

Randgold financed and built the Morila mine which since October 2000
has produced approximately 5.8 million ounces of gold and distributed
more than US$1.6 billion to stakeholders. It also financed and built
the Loulo operation which started as two open pit mines in November
2005. Since then, an underground mine has been developed at the Yalea
deposit and construction of a second underground operation is underway
at the Gara deposit. The company's new Tongon mine poured its first
gold on 8 November 2010. Mining started in January 2011 at Gounkoto,
another deposit on the Loulo permit in Mali, and it is scheduled to
start supplying ore to the nearby Loulo plant in the second half of
2011.

Randgold is fast tracking Kibali in the Democratic Republic of Congo,
where construction of the mine is targeted to start mid-2011. In 2009
the company acquired a 45% interest in the Kibali project, which now
stands at 10.05 million ounces of mineral reserves and is one of the
largest undeveloped gold deposits in Africa.

Randgold also has an extensive portfolio of organic growth prospects,
which is constantly replenished by intensive exploration programmes in
Burkina Faso, Cote d'Ivoire, DRC, Mali and Senegal.



CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold and
there is no assurance they will prove to be correct. Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Randgold to be materially different from
those expressed or implied by such forward-looking statements,
including but not limited to: risks related to operating the Tongon
mine in Cote d'Ivoire, the integration of Randgold and Moto, risks
related to mining operations, including political risks and instability
and risks related to international operations, actual results of
current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, as well
as those factors discussed in Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'), including in the section entitled'Risk
Factors' in Randgold's annual report on Form 20-F for the year
ended 31 December 2010 which is anticipated to be filed with the SEC on
31 March 2011. Although Randgold has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. Randgold does
not undertake to update any forward-looking statements herein, except
in accordance with applicable securities laws.

CAUTIONARY NOTE TO US INVESTORS: the SEC permits companies, in their
filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this release, such as 'resources',
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

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