|By Marketwired .||
|August 7, 2014 02:59 AM EDT||
JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 08/07/14 -- Randgold Resources (LSE: RRS) (NASDAQ: GOLD)
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
RANDGOLD PASSES MORE MILESTONES EN ROUTE TO +1MOZ PRODUCTION
London, 7 August 2014 - Another record production quarter from its flagship Loulo-Gounkoto complex in Mali has set Randgold Resources up at the halfway mark to achieve its guidance for the year. At the same time, the developing Kibali mine in the Democratic Republic of Congo remained on track to reach its forecast target despite commissioning disruptions.
Group gold production of 277 283 ounces for the second quarter was down 2% on Q1's record output but 41% ahead of last year's corresponding quarter. Cost per ounce rose by 2% to US$701 on the previous quarter but was 12% down on Q2 in 2013. Profit from mining of $162.3 million decreased by 5% from the previous quarter but was up 54% on the corresponding quarter in 2013.
Loulo-Gounkoto produced 174 052 ounces, up 3% on Q1, and the third quarter in a row that the complex has posted a record production number. In other significant developments, the paste backfill plant at the Yalea underground mine was commissioned, enabling miners to harvest almost 100% of the high grade zones. The complex's energy cost reduction programme continued to evolve with the installation of two more medium speed generators, due for commissioning in the second half of the year, capable of running on less expensive heavy fuel oil.
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