Click here to close now.




















Welcome!

News Feed Item

Q4 results and updates

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 02/04/13 --



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

OVERCOMING EXTRAORDINARY CHALLENGES, RANDGOLD DELIVERS RECORD 2012
RESULTS

Cape Town, 4 February 2013 - Randgold Resources achieved record
production and profit levels in 2012 while dealing with a range of
challenges associated with the expansion of its flagship Loulo-Gounkoto
complex in Mali, the fast-track development of the giant Kibali project
in the Democratic Republic of Congo, operational problems at the Tongon
mine in Cote d'Ivoire and the general turmoil in Mali.

Results for the fourth quarter and the full year, published today, show
profit for the year up 16% at US$511 million and production up 14% at
794 844 ounces of gold. Quarter on quarter, profit increased by 18%
and production by 5%. Cash and gold on hand at the year end amounted
to US$403 million despite capital expenditure of US$563 million, mainly
on the Kibali project. The board has proposed a 25% increase in the
annual dividend to 50 US cents for shareholder approval at the annual
general meeting.

Loulo exceeded its production target for the year, delivering
503 224 ounces on the back of the accelerated development of its Yalea
and Gara underground mines and a ramp-up in plant throughput following
the successful commissioning of a third mill. The Morila joint venture
also beat its forecast with annual production of 202 513 ounces. A pit
pushback project has been approved subject to certain conditions, with
mining due to start in Q2 this year. This is expected to extend the
life of the operation.

Tongon's production slipped from 250 390 ounces in 2011 to
210 615 ounces, mainly as a result of frequent outages in the grid
power supply, which caused disruptive plant stoppages and process
upsets as well as lower than planned recoveries. This situation was
exacerbated by a fire in the milling circuits. The plant was restored
to full production by the end of January and the power and recovery
problems are being addressed.

Kibali's two ball mills were installed on their foundations ahead of
schedule in January this year and open pit mining has produced the
first ore for the feed stockpiles. Development has started on both
underground declines and the parallel development of the vertical shaft
is also underway. The resettlement programme has been accelerated and
all the villages in the critical area of the mine site have now been
moved. With the construction, mining and social programmes all
progressing well, the project remains on track to deliver first gold in
the fourth quarter of this year. In the meantime, Randgold has
expanded its footprint in the DRC through a joint venture with Kilo
Goldmines which gives it access to a further 2 000km2 of prospective
greenstone belt in the Congo Craton."It's been a particularly eventful year
but the team once again rose to the challenges. Not only did we achieve
very creditable results for 2012 but we start 2013 in good shape and with a
renewed focus on growing our production and managing our costs," said chief
executive Mark Bristow."Our chief objectives for this year are to pour
first gold on schedule at Kibali, get Tongon back on target, maintain the
strong performance at Loulo-Gounkoto and Morila, and continue to deliver
profitable growth. Beyond that, our sights are still set on reaching our
annual production target of plus 1.2 million ounces of gold by 2015."

RANDGOLD RESOURCES ENQUIRIES:

Chief Executive  Financial Director  Investor & Media Relations
Mark Bristow     Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333    +44 20 7557 7738
+44 779 775 2288 +44 779 771 1338    Email: [email protected]

Website: www.randgoldresources.com

------------------------------------------------------------------------

Click on, or paste the following link into your web browser, to view
the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/9871W_1-2013-2-1.pdf


                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer
Services
0044-207797-4400
Email Contact
http://www.rns.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...