SOURCE: Randgold Resources Ld

March 30, 2012 07:47 ET

Record results lay foundation for further growth

JERSEY, CHANNEL ISLANDS--(Marketwire - Mar 30, 2012) -


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

('Randgold')



RECORD 2011 RESULTS LAY FOUNDATION FOR NEXT GROWTH STAGE



Despite the political challenges in Cote
d'Ivoire and the operational challenges at Loulo, the past year's
record profits and production, coupled with the rapid development of
new projects, should provide a solid base for Randgold's next growth
stage, says chief executive Mark Bristow in the company's 2011 Annual
Report, published today."Subsequent to the publication of the Annual
Report, this year has also
started with some real challenges around the Mali political situation
and the company still has some way to go to start benefiting from the
expansions at Loulo. We also have to settle the operations at Tongon
which includes ramping up the plant and stabilising the industrial
relations situation. However, just as Randgold gained in 2011 from the
investments made and the work done in previous years, so it should reap
the benefits of 2011's achievements in years to come. The underlying
challenge, as ever, is to build on past successes so that the company
can continue delivering value to shareholders," Bristow said."Key
objectives for the new year, which marks another inflection point
on our growth curve, are the effective execution of the Kibali
development plan and delivering on our underground operations. There
is also an intensified focus on our financial systems and cost control,
along with the management of our cash, given the additional risk that
comes with the large capital expenditure schedules we have planned for
the next two years and our intention to fund these internally. Our
medium term aim is still to reach a production level of 1.2million
ounces by 2015," he said.



Also in the Annual Report, chairman Philippe Lietard says Randgold's
growth has brought with it corporate as well as operational
challenges."Central to these is the question of how best to manage a
dynamic and
increasingly complex corporation with multiple businesses in different
countries. Equally important is the need to protect the distinctive
corporate culture on which Randgold's success has been built. Many
once successful companies have failed because as they expanded they
lost their way, becoming bloated, complacent and arrogant. Randgold is
gearing its human capital, structures and systems to the demands of its
continuing operational development but in doing so it remains
uncompromisingly dedicated to the preservation of its characteristic
qualities: energy, enterprise and tenacity, as well as a long term
vision and the ability to make decisions and take actions swiftly,"
says Lietard.



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 2011
with the US Securities and Exchange Commission ('SEC') expected 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. 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 Notice of
Annual General Meeting section, also on the website at
 www.randgoldresources.com .







Website:  www.randgoldresources.com 





ABOUT RANDGOLD

Randgold Resources' far-sighted strategy of growing through discovery
and development enables it to deliver value consistently to its
stakeholders while building platforms for further expansion. In 2011
the company again significantly increased profit and production. At
the same time, it continued the extension of its Loulo complex, moved
the Tongon mine (commissioned late in 2010) to steady state production,
opened a new mine at Gounkoto and advanced the vast Kibali project
through the pre-construction stage. Also during this period, its
exploration teams pressed on with the hunt for more multi-million ounce
gold deposits, feeding a constant stream of potentially profitable
opportunities into the company's pipeline and enlarging its footprints
in Africa's most prospective gold regions.



Randgold Resources is an African focused gold mining and exploration
company with listings on the London Stock Exchange and Nasdaq. Major
discoveries to date include the 7.5 million ounce Morila deposit in
southern Mali, the 7million ounce Yalea deposit and the 5.5 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 more than 6 million ounces of gold and distributed more
than US$2 billion to stakeholders. It also financed and built the
Loulo operation which started as two open pit mines in November 2005.
Since then, two underground mines have been developed at the Yalea and
Gara deposits. The company's Tongon mine in Cote d'Ivoire poured its
first gold in November 2010. Randgold's latest mine, Gounkoto, another
deposit south of Loulo in Mali, delivered first ore to the Loulo plant
in June 2011.



Randgold is fast-tracking Kibali in the Democratic Republic of Congo,
where construction is underway and the first full year of production is
planned for 2014. In 2009 the company acquired a 45% interest in the
Kibali project, which now stands at 10 million ounces of reserves and
is one of the largest undeveloped gold deposits in Africa. Randgold
also has a major project at Massawa in Senegal and an extensive
portfolio of organic growth prospects, supported 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 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 the section entitled 'Risk Factors' in Randgold's annual
report on Form 20-F for the year ended 31 December 2011 which is
anticipated to be filed with the US Securities and Exchange Commission
(the 'SEC') today. 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

Contact Information

  • ENQUIRIES

    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
    Email: Email Contact