SOURCE: Randgold Resources Ld

October 26, 2014 20:13 ET

Tongon action plan to deliver performance upturn

JERSEY, CHANNEL ISLANDS--(Marketwired - Oct 26, 2014) - Randgold Resources (LSE: RRS) (NASDAQ: GOLD)


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


ACTION PLAN ON TRACK TO DELIVER PERFORMANCE UPTURN AT TONGON


Abidjan, Cote d'Ivoire, Saturday 25 October 2014 -The remedial
measures implemented to overcome the technical problems that have
impacted Tongon are starting to produce the desired results with the
mine's performance improving, says Randgold Resources chief executive
Mark Bristow.

Speaking at a briefing for local media here today, Bristow said mill
throughput and the recovery rate, the main challenges faced by the
mine, were both being turned around by a determined effort on the part
of the Tongon management team. Their action plan also includes the
replacement of the faulty crushers, which has now been completed with
the new crushers currently being integrated into the larger circuit,
and the expansion of the flotation circuit, which will start when the
necessary equipment arrives on site next month."By early next year Tongon
should have achieved its targeted
performance levels, but the improvement is already evident, and despite
the setbacks and challenges the management team has had to contend
with, the mine should come within 10% of its production guidance of
260000 ounces for 2014, with costs well contained," Bristow said.

In the meantime, he said, infill drilling in the mine's south pit had
confirmed the potential for increasing the resource and the mineable
reserve to replace ounces depleted during the year. More details of
this will be provided with the group's third quarter results next
month.

Elsewhere in Cote d'Ivoire, Randgold has acquired two new permits while
more are pending. Thanks to the confidence inspired by the country's
new mining code, Bristow said, Randgold was stepping up its investment
in exploration there. It was also rolling out its sustainability
programmes in line with the code.

Bristow said Randgold was working closely with the Ivorian ministry of
health and local authorities to ward off the potential threat posed by
the Ebola outbreak elsewhere in West Africa. "Although the Ebola
infestations are not present in Cote d'Ivoire, we believe in being
prepared and so does the government, and we are implementing extensive
measures to protect the health of our employees as well as our
surrounding communities," he said.

RANDGOLD ENQUIRIES:

Chief Executive     Group Regional Manager West    Investor & Media
Mark Bristow        Africa                         Relations
+44 788 071 1386    Mahamadou Samake               Kathy du Plessis
+223 66 75 01 22    +223 66 75 61 36               +44 20 7557 7738
                    +223 20 20 16 94                randgold@dpapr.com 
Website:  www.randgoldresources.com 


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
Resources Limited ('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 Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'). 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