Welcome!

Release Management Authors: Liz McMillan, Jnan Dash, Lori MacVittie, Gilad Parann-Nissany, Carmen Gonzalez

News Feed Item

RANDGOLD RESOURCES LIMITED: 3rd Quarter Results

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 11/07/12 --


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

RANDGOLD HOLDS COURSE IN CHALLENGING QUARTER

Substantial progress at the Kibali gold
mine development project and Randgold's flagship Loulo complex was
offset by grid power supply problems at the Tongon mine and lower
grades processed at Gounkoto, as Randgold Resources' third quarter
results held steady but did not match its record second quarter
performance.

Q3 profit of US$121.3 million was down 15% on the prior quarter,
primarily on the back of lower sales, but in line with the
corresponding quarter in 2011. Production was 204475ounces of gold
against Q2's 210534ounces and 182362ounces in Q3 of 2011, while the
total cash cost per ounce was US$737 (Q2: US$703/Q3 2011: US$747).
Ounces sold dropped by 10% quarter on quarter, affected by the timing
of gold shipments at quarter end being disrupted by the annual stock
take at the refinery.

Highlight of the quarter was the strong improvement at Loulo, which
increased production by 78% and reduced total cash cost per ounce by
8%. Tonnes mined and processed were mostly from Loulo's two
underground mines, Yalea and Gara, which are now beginning to deliver
their full potential. Both mines also achieved a steady rise in
stoping and development rates.

Relative to Loulo's improved delivery, Gounkoto's contribution to the
complex's results was down as forecast, however grades processed were
lower than planned due to less ore being mined and more medium grade
stockpiled material being fed to make up for increased plant
throughput. Meanwhile, a geotechnical review has confirmed the
potential for an underground mine at Gounkoto, where an underground
resource of more than 1millionounces at a grade in excess of 5g/t has
been identified. Infill drilling for a prefeasibility study, due for
completion early in 2013, is underway.

Kibali's development remained on track for first gold production by the
end of 2013. All key contracts have now been agreed and the mine's
costing schedule has been finalised. While open pit mining has already
started, the plant foundations are being readied to receive the two
giant mills currently being trucked to the site from the port of
Mombasa. The site clearing programme is also on schedule, with more
than 1000families already resettled in the new model village of
Kokiza.

Tongon suffered from frequent outages in its national grid power
supply, which continued to impact negatively on plant availability and
recovery and hence on production and costs. Since the mine was
connected to the grid last December, the erratic power supply has cost
it some 50000ounces in lost production. While below plan, production
of 56381ounces was in line with that of the prior quarter. Steps
being taken to stabilise the power supply include the installation of a
new capacitor bank and five additional generator sets, as well as a
reconfiguration of the power house feeder arrangement.

In Senegal, Massawa is one of the largest undeveloped orebodies in
Africa at 3millionounces. Exploration continues to find additional
ounces as well as to improve Randgold's understanding of this complex
deposit. Pilot plant testwork to determine the project's optimal
operational parameters is scheduled for next year. Randgold is
currently in discussion with the Senegalese government about the
possibility of securing a hydropower supply.

Chief executive Mark Bristow described the third-quarter results as a
mixed bag, but with the good far outweighing the bad. "The challenges
we faced are to be expected when you develop and run mines in remote
parts of Africa and, as our record shows, we're more than capable of
managing them. They should not cloud the real achievements of the
quarter, particularly the fine performance by Loulo's underground mines
and the rapid progress we continue to make at Kibali. Production and
costs for the final quarter are forecast to again show significant
improvements" he said.


RANDGOLD RESOURCES ENQUIRIES:

Chief Executive  Financial Director   Investor & Media Relations
Mark Bristow     Graham Shuttleworth  Kathy du Plessis
+447880711386    +441534735333        +442075577738
+447797752288    +447797711338        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/4556Q_1-2012-11-6.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.

@ThingsExpo Stories
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...