Randgold Resources - Q4 results and update
February 3, 2014 - JERSEY, CHANNEL ISLANDS
Randgold Resources (LSE: RRS)(NASDAQ: GOLD)
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
RANDGOLD HITS TARGETS FOR 2013, POISED FOR ANOTHER BIG PRODUCTION
STEP-UP IN 2014
Cape Town, 3 February 2014 - Randgold Resources boosted gold
production to a new record level and reduced total cash cost per ounce
in 2013 while lining up its operations to exceed the million-ounce mark
for the first time this year.
Releasing its results for the quarter and year to December today, the
company reported production of 910373 ounces for 2013, up 15% on the
previous year, and forecast a continued rise in output over the next
five years, with production in 2014 expected to increase by between 25%
and 30% on the back of increasing grades at the Loulo-Gounkoto complex,
improving recoveries and throughput at Tongon and the recently
commissioned Kibali's first full-year contribution.
Total cash cost per ounce for the quarter was US$628, down 5% on the
previous quarter, and US$715 for the year, down 3% on 2012. On the
back of the higher production, gold sales of US$1.27billion for the
year were almost in line with the previous year, but a drop of 17% in
the average gold price received reduced profit from 2012's
US$510.8million to US$325.7million. The board nevertheless
recommended an unchanged dividend of 50UScents for shareholders'
approval. Randgold's cash balance improved quarter on quarter and it
ended the year with no net debt.
Chief executive Mark Bristow said 2013 was one of Randgold's best
years, as it made substantial advances on all fronts in the face of
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