Strongly placed for further growth
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 03/28/13 -- Randgold
Resources Limited (LSE: RRS) (NASDAQ: GOLD)
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
("Randgold Resources", "Randgold", the "company and the "group")
STRONGLY PLACED FOR FURTHER GROWTH, RANDGOLD EYES FRESH PROSPECTS
London, 28 March 2013 - After a year in which it drove production and
profit to record heights, Randgold Resources is rapidly advancing its
further growth projects and examining new joint-venture opportunities
generated by stress in the gold mining industry's junior sector, says
chief executive Mark Bristow.
Writing in Randgold's 2012 annual report, published today, Bristow says
the company's top priority is to deliver on its promise to pour first
gold at the giant Kibali project in the Democratic Republic of Congo
before the end of 2013. Other focus areas include ramping up
production at Randgold's flagship Loulo-Gounkoto complex in Mali and
completing a feasibility study on a new underground mine at Gounkoto.
Despite capital expenditure of US$562.3 million last year, mainly on
Kibali, Randgold's cash and gold on hand at the end of 2012 totalled
US$403 million, which means the company is well placed to fund its
future growth, Bristow says."Our exploration teams are hunting for
additional resources for our mines as well as fresh targets that will
produce our next big discovery. Throughout the group, we will sustain a
strong emphasis on growing production and containing costs, and our
overall objective remains the creation and delivery of value to all our
stakeholders," he says."At the corporate level, we are looking at joint
venture opportunities generated by the current state of the industry. We
also intend to continue to work with the governments of our host
countries, guided by our partnership philosophy, to head off short-
sighted changes to their mining codes."
Also in the report, chairman Philippe Lietard notes that the
partnership philosophy is an integral part of everything Randgold does.
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