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Strongly placed for further growth

Mar 28 2013 12:00AM

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JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 03/28/13 -- Randgold Resources Limited (LSE: RRS) (NASDAQ: GOLD)


RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNASDAQ Trading Symbol: GOLD("Randgold Resources", "Randgold", the "company and the "group")STRONGLY PLACED FOR FURTHER GROWTH, RANDGOLD EYES FRESH PROSPECTSLondon, 28 March 2013 - After a year in which it drove production andprofit to record heights, Randgold Resources is rapidly advancing itsfurther growth projects and examining new joint-venture opportunitiesgenerated by stress in the gold mining industry's junior sector, sayschief executive Mark Bristow.Writing in Randgold's 2012 annual report, published today, Bristow saysthe company's top priority is to deliver on its promise to pour firstgold at the giant Kibali project in the Democratic Republic of Congobefore the end of 2013. Other focus areas include ramping upproduction at Randgold's flagship Loulo-Gounkoto complex in Mali andcompleting a feasibility study on a new underground mine at Gounkoto.Despite capital expenditure of US$562.3 million last year, mainly onKibali, Randgold's cash and gold on hand at the end of 2012 totalledUS$403 million, which means the company is well placed to fund itsfuture growth, Bristow says."Our exploration teams are hunting foradditional resources for our mines as well as fresh targets that willproduce our next big discovery. Throughout the group, we will sustain astrong emphasis on growing production and containing costs, and ouroverall objective remains the creation and delivery of value to all ourstakeholders," he says."At the corporate level, we are looking at jointventure opportunities generated by the current state of the industry. Wealso intend to continue to work with the governments of our hostcountries, guided by our partnership philosophy, to head off short-sighted changes to their mining codes."Also in the report, chairman Philippe Lietard notes that thepartnership philosophy is an integral part of everything Randgold does."Over the past year it again showed its merit by cushioning thecompany against the upheavals in Mali, providing a supportive environmentfor its operations and helping Kibali to advance rapidly. Like all closerelationships, Randgold's partnerships with its host governments areoccasionally strained but these moments are invariably overcome whenthe overriding considerations of common interests and shared valuesreassert themselves," he says.The 2012 annual report has been posted to shareholders and is availablefor viewing and/or downloading from Randgold's website atwww.randgoldresources.com. A copy of the 2012 annual report has beensubmitted to the National Storage Mechanism and will shortly beavailable for inspection at www.hemscott.com/nsm.do. A copy of the2012 annual report will also be submitted to Randgold's annual generalmeeting to be held on 29 April 2013.Once Randgold has filed its annual report on Form 20-F for the 12months ended 31 December 2012 with the US Securities and ExchangeCommission, expected later today, that report will also be availablefor viewing and/or downloading from Randgold's website and atwww.sec.gov.ENQUIRIESChief Executive Financial Director Investor & Media RelationsMark Bristow Graham Shuttleworth Kathy du Plessis+447880711386 +441534735333 +442075577738+447797752288 +447797711338 Email:randgoldresources@dpapr.comWebsite: www.randgoldresources.comCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for thehistorical information contained herein, the matters discussed in thisnews release are forward-looking statements within the meaning ofSection 27A of the US Securities Act of 1933 and Section 21E of the USSecurities Exchange Act of 1934, and applicable Canadian securitieslegislation. Forward-looking statements include, but are not limitedto, statements with respect to the future price of gold, the estimationof mineral reserves and resources, the realisation of mineral reserveestimates, the timing and amount of estimated future production, costsof production, reserve determination and reserve conversion rates.Generally, these forward-looking statements can be identified by theuse of forward-looking terminology such as 'will', 'plans', 'expects'or 'does not expect', 'is expected', 'budget', 'scheduled','estimates','forecasts', 'intends', 'anticipates' or 'does not anticipate', or'believes', or variations of such words and phrases or state that certainactions, events or results 'may', 'could', 'would','might' or 'will betaken', 'occur' or 'be achieved'. Assumptions upon which such forward-looking statements are based are in turn based on factors and events thatare not within the control of Randgold and there is no assurance theywill prove to be correct. Forward-looking statements are subject to knownand unknown risks, uncertainties and other factors that may cause theactual results, level of activity performance or achievements of Randgoldto be materially different from those expressed or implied by suchforward-looking statements, including but not limited to: risks related tomining operations, including political risks and instability and risksrelated to international operations, actual results of current explorationactivities, conclusions of economic evaluations, changes in projectparameters as plans continue to be refined, as well as those factorsdiscussed in Randgold's filings with the US Securities and ExchangeCommission (the 'SEC'). Although Randgold has attempted to identifyimportant factors that could cause actual results to differ materiallyfrom those contained in forward-looking statements, there may be otherfactors that cause results not to be as anticipated, estimated orintended. There can be no assurance that such statements will prove tobe accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-looking statements.Randgold does not undertake to update any forward-looking statementsherein, except in accordance with applicable securities laws.CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in theirfilings with the SEC, to disclose only proven and probable orereserves. We use certain terms in this release, such as 'resources',that the SEC does not recognise and strictly prohibits us fromincluding in our filings with the SEC. Investors are cautioned not toassume that all or any parts of our resources will ever be convertedinto reserves which qualify as 'proven and probable reserves' for thepurposes of the SEC's Industry Guide number 7. This information is provided by RNS The company news service from the London Stock ExchangeEND





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Source: Marketwire


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