SOURCE: Randgold Resources

February 09, 2015 02:08 ET

Randgold Resources Ld: Randgold Resources Ld Announces Q4 Results and Updates

JERSEY, CHANNEL ISLANDS--(Marketwired - Feb 9, 2015) - Randgold Resources Ld (LSE: RRS) (NASDAQ: GOLD)

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


Cape Town, 9 February 2015 - Randgold Resources increased group gold production by 26% in 2014 while reducing total cash costs by 2%, and ended the year with no borrowings and more than $100 million in cash, cash equivalents and gold on hand.

Results for the year to December, published today, show profit down 17% at $271.2 million, mainly as a result of the drop in the gold price, but the board nevertheless proposed a 20% increase in the final cash dividend to 60 US cents per share, subject to shareholder approval, reflecting the strong cash flow from the group. Group production totalled 1 147 414 ounces (2013: 910 374oz) and the total cash cost per ounce was $698 (2013: $715).

The company's operations all performed robustly, with its flagship Loulo-Gounkoto complex in Mali increasing production in line with guidance by 10% to 639 219 ounces and reducing total cash cost per ounce by 4% to $672. In its first full year of operation, Kibali in the Democratic Republic of Congo continued to ramp up production, delivering 526 627 ounces at a total cash cost of $573/oz. Tongon in Côte d'Ivoire was still in the final stages of a crusher and flotation circuit upgrade programme at year end but its production of 227 103 ounces at a total cash cost of $872/oz was within 3% of its revised guidance.

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Contact Information

    Chief Executive
    Mark Bristow
    +44 788 071 1386
    +44 779 775 2288

    Financial Director
    Graham Shuttleworth
    +44 1534 735 333
    +44 779 771 1338

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