Randgold Resources Ld
09 November 2005
RANDGOLD RESOURCES' NEW MINE SHIPS FIRST COMMERCIAL GOLD
Bamako, Mali, 9 November 2005 (LSE:RRS)(Nasdaq:GOLD) - London and Nasdaq
listed gold miner Randgold Resources' new mine at Loulo yesterday shipped its
first commercial consignment of bullion, a week ahead of schedule and four days
before its official opening by Malian president Amadou Toumani Toure on 12
The consignment of 8 710 fine ounces of gold, valued at some US$4 million,
signals the successful completion of the mine's build-up to commercial
production, a process which started when it poured its first gold on 28
September. The mine plans to ship bullion on a weekly basis from now on.
Chief executive Dr Mark Bristow said the first shipment was originally scheduled
for mid-November but with gold stock accumulating at the mine it was decide to
bring this forward. 'It's another major milestone for Loulo,' he said. 'When
you start earning revenue, you know you have a real business.'
While the open-pit operation at Loulo, which has been designed to produce more
than 200 000 ounces of gold per year, is brought to full capacity, work also
continues on the development of a complementary underground mine which will
significantly increase the life and value of the Loulo project.
Loulo is the second world-class gold mine discovered and developed by Randgold
Resources in Mali within five years. The first, Morila, has produced almost 3.5
million ounces of gold since it was commissioned in October 2000.
RANDGOLD RESOURCES ENQUIRIES:
Chief Executive Financial Director Investor & Media Relations
Dr Mark Bristow Roger Williams Kathy du Plessis
+44 (0)779 775 2288 +44 (0)791 709 8939 +27 (0)11 728 4701
+223 675 0122 +223 675 0109 Cell: +27 (0) 83 266 5847
Website : www.randgoldresources.com
DISCLAIMER: Statements made in this document 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, the development of Loulo and estimates of resources, reserves and mine
life. For a discussion on such risk factors refer to the annual report on Form
20-F for the year ended 31 December 2004 which was filed with the United States
securities and exchange commission (The 'SEC') on 29 June 2005. Randgold
Resources sees no obligation to update information in this release.
This information is provided by RNS
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