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Randgold Resources (RRS)

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Tuesday 03 September, 2002

Randgold Resources

RRS CLOSES OUT HEDGES

Randgold Resources Ld
3 September 2002


For further information call:
(CEO) Mark Bristow on +44 779 775 2288  

RANDGOLD RESOURCES CLOSES OUT HEDGES

London, 3 September 2002 -  Randgold Resources, the gold mining and
exploration business listed on the London Stock Exchange and Nasdaq, announced
today that it had closed out 148 500 ounces of call option commitments for the
year 2004.  The only remaining hedges associated with the company are now
those which form part of the financing structure for Morila, its joint-venture
mine in Mali.

Chief executive Dr Mark Bristow said the unwinding of the call options was in
line with the company's strategy of maintaining the fullest possible exposure
to the gold price.  'We're fundamentally not hedgers, other than in those
cases where revenue streams need to be protected on capital projects or debt
finance,' he said

The call option commitments, which had an average strike price of US$353 per
ounce, were closed out at a net cost of US$2 million, payable in 2004.  As
these commitments had in the past been valued on a marked-to-market basis,
this cost has already been provided for in prior quarters.  The Morila
financial instruments are substantially fully matched hedges, so that their
impact on the company's income statement has effectively been eliminated.




Issued on behalf of Randgold Resources Limited 
by du Plessis Associates.  dPA contact Kathy du Plessis on Tel: 27(11) 728
4701, mobile: (0)83 266 5847 or e-mail randgoldresources@dpapr.com


DISCLAIMER:
Statements made in this release with respect to Randgold Resources' current
plans, estimates, strategies and beliefs and other statements that are not
historical facts are forward-looking statements about the future performance
of Randgold Resources. These statements are based on management's assumptions
and beliefs in light of the information currently available to it.  Randgold
Resources cautions you that a number of important risks and uncertainties
could cause actual results to differ materially from those discussed in the
forward-looking statements, and therefore you should not place undue reliance
on them.  The potential risks and uncertainties include, among others, risks
associated with:  fluctuations in the market price of gold, gold production at
Morila, estimates of reserves and mine life and liabilities arising from the
closure of the Syama.  Randgold Resources assumes no obligation to update
information in this release.


                      This information is provided by RNS
            The company news service from the London Stock Exchange