Randgold Resources Ltd - Q4 results and update
06.02.2012 | Marketwired
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 02/06/12 --
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
RANDGOLD RESOURCES POSTS RECORD PROFIT WHILE ADVANCING TO NEXT GROWTH
STAGE
London, 6 February 2012 - Powered by increased production at all its
operating complexes, Randgold Resources' profit soared by 259% to
US$433.4 million for 2011. Profit for the fourth quarter of US$136.2
million was up 323% on the corresponding quarter in 2010 and was also
higher than the company's annual profit in any preceding year. The
board has proposed a US$0.40annual dividend, up 100% on 2010 on the
back of the substantial increase in earnings.
Production for the year rose by 58% to 696 023 ounces, reflecting
increased contributions from the Loulo complex in Mali (which includes
the new Gounkoto mine), Tongon in Cote d'Ivoire and the Morila joint
venture, also in Mali. Morila, now a dump treatment operation, passed
the 6 million ounce total production mark during the fourth quarter.
Group cash operating costs for the year of US$641 per ounce were in
line with those of the previous year.
Chief executive Mark Bristow said the record results represented a
significant achievement, particularly when seen against the background
of the major developmental projects and issues the company had to
handle during the year. These included the expansion programmes at
Loulo and Tongon, the commissioning of Gounkoto and the rapid advance
of the giant Kibali project in the Democratic Republic of Congo.'Randgold's
long-term strategy of building sustainably profitable gold
mining businesses through discovery and development continues to pay
off,' he said. 'In 2011 we benefited from our investment in growth in
previous years, just as the development work we are doing now will
reward our stakeholders in years to come.'
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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: randgoldresources@dpapr.com
Website: www.randgoldresources.com
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
