JERSEY, CHANNEL ISLANDS--(Marketwire - February 8, 2010) -
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
PROFIT, PRODUCTION AND RESERVES SOAR IN RECORD YEAR
London, 8 February 2010 - Randgold Resources (LSE: RRS) (NASDAQ: GOLD)
crowned a year in which it expanded its flagship Loulo operation,
progressed the development of a new mine at Tongon, advanced two major new
discoveries and completed the Moto acquisition by posting a 79%
year-on-year profit increase on the back of record production at Loulo.
Results for 2009, published today, show a profit of US$84.3 million (2008:
US$47 million) for the year. The fourth quarter profit of US$38.7 million
was up 185% quarter-on-quarter and 315% up on the corresponding quarter in
2008. Given the profit increase, the board increased the annual dividend
by 30% to 17 US cents per share. The company's balance sheet remains
strong, with US$590 million in cash and no net debt.
Attributable group gold production for the year was up 14% at 488 255
ounces, boosted by a strong fourth quarter performance from Loulo, where
the recently completed plant expansion significantly increased throughput.
Loulo's production for the year was 351 591 ounces (2008: 258 095 ounces),
of which 106 564 ounces came in the last quarter. The Morila joint venture
-- successfully converted to a stockpile retreatment operation at the
beginning of 2009 -- produced 341 661 ounces, slightly higher than forecast
due to better than planned recoveries and grade.
The prefeasibility study on the Massawa project in Senegal was completed,
delivering a reserve of 1.5 million ounces at a grade of 4.6g/t and
pointing to more upside. The board approved the study which demonstrated
that even without the underground resources it meets the company's
investment hurdle rates. It has now moved into the feasibility phase,
while the prefeasibility study on the Gounkoto project near Loulo in Mali
is on track for completion in the first quarter of 2010. The initial
scoping study on Gounkoto defined a robust resource at a significant grade.
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