Welcome!

Containers Expo Blog Authors: XebiaLabs Blog, Lori MacVittie, Elizabeth White, Liz McMillan, John Basso

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
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…
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.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that 910Telecom 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. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, 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. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
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...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
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.
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...
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 ...
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...
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...