Randgold Increasing reserves and upping grade - replacement
28.03.2013 | Marketwired
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 03/28/13 --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.
TSX-V:IAE
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 AGAIN
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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http://www.rns-pdf.londonstockexchange.com/rns/1614B_1-2013-3-28.pdf
This information is provided by RNS
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