Randgold Increasing reserves and upping grade - replacement
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 03/28/13 -- *T
Randgold Resources Limited announces that the following amendment has
been made to the RANDGOLD INCREASES RESERVES AND UPS GRADE announcement
released on 28 March 2013.
A correction has been made to the 803 000 mineral reserve ounces
increase in the second paragraph. All other details remain unchanged.
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
("Randgold Resources", "Randgold" and the "company")
INCREASING RESERVES AND UPPING GRADE, RANDGOLD BUCKS INDUSTRY TREND
London, 28 March 2013 - Randgold Resources increased its attributable
reserves in 2012, despite their depletion from mining in a year that
delivered record production. At the same time, the company continued
to improve its overall reserve grade.
Randgold's annual mineral resource and reserve declaration, published
today as part of its annual report for 2012, shows total attributable
mineral reserve ounces up by 80 320 to 16.36 million. In line with the
company's focus on quality over quantity, the group reserve grade was
increased from 3.84 to 3.87g/t, while total attributable resources were
down from 28.25 to 27.21 million ounces.
Randgold's general manager evaluation Rod Quick noted that the grade
improvement had been driven principally by the group's flagship Loulo,
Gounkoto and Kibali deposits."This ability to add quality ounces from
extensions to our known orebodies and to continue converting ounces
from the inferred to the indicated category shows the value of our
strategy of focusing on world class deposits," he said."It's also
worth noting that we haven't used the higher gold price to boost our
ounces. For the second year running, we have calculated our reserves
at a relatively conservative US$1000/oz of gold while our resources
have been estimated at US$1500/oz."
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