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Randgold Resources Announces 1st Quarter Results

JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 05/08/14 -- (LSE: RRS) (NASDAQ: GOLD)


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


ROBUST Q1 PERFORMANCE SETS PACE AS RANDGOLD CHASES DOWN 2014 TARGET

London, 8 May 2014 - A robust first quarter performance got Randgold
Resources off to a strong start as it set out to crack the
million-ounce production mark for the year.

Results for the three months to 31 March, published today, show the
company produced a record 283 763 ounces, boosted by an increased
contribution from Kibali. Kibali began commercial production in October
last year and started commissioning its second sulphide mill circuit
during the past quarter. The mine was officially opened by Democratic
Republic of Congo's Minister of Mines Martin Kabwelulu last week.

Gold sales of $363 million were up quarter on quarter, following a 3%
increase in the average gold price received, and on the corresponding
prior year quarter despite a 21% drop in the average gold price
received. Total cash cost per ounce of $685 was up 9% quarter on
quarter but down 19% on the corresponding prior year quarter on the
back of the ramp-up of production at Kibali and significantly higher
grades and recovery at the Loulo-Gounkoto complex in Mali. Profit from
mining decreased by 4% quarter on quarter to $171 million, due to the
increase in costs, but was up 14% on the corresponding quarter in 2013.

Operationally Loulo's underground mines sustained their increasing
delivery with another record output by both Yalea and Gara. Production
and development at Kibali were on target. Tongon in Cote d'Ivoire
again struggled with a below par throughput rate as the Vibrocone
crushers, intended to address this issue, continued to experience
mechanical failures.

Chief executive Mark Bristow said overall Randgold's operations and
development projects had both performed well and the company's total
cash cost and production guidance for the year remained intact."We have
looked closely at our mines to ensure that they will still be
profitable at $1 000/oz and we'll continue to review all operations
against a range of gold price scenarios. We have a solid 2014 budget
in place and we have effectively banked our five-year plan. Our focus
is now on rolling this out over a 10-year period," he said.


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

http://www.rns-pdf.londonstockexchange.com/rns/5372G_1-2014-5-7.pdf



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

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