Randgold Replenishes Resources in Record Production Year
JERSEY, CHANNEL ISLANDS--(Marketwired - Mar 31, 2016) - Randgold Resources (LSE: RRS) (NASDAQ: GOLD)
NASDAQ: GOLD
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
RANDGOLD REPLENISHES RESOURCES IN RECORD PRODUCTION YEAR
London, Thursday 31 March 2016 - Randgold Resources' annual resource and reserve declaration, published today as part of its annual report for 2015, shows attributable measured and indicated resources steady at 21.1 million ounces while inferred resources are marginally up to 6.7 million ounces. Total attributable reserves of 14.6 million ounces reflect a 3.5% reduction after mining depletion, with no change in the grade, in a year that delivered record production of 1.2 million ounces.
Loulo's total mineral resources increased by 5%, net of depletion. This was driven by a significant increase of plus 600 000 ounces in the Gara underground inferred resources from the positive results of the Gara South drilling. Further drilling and design work are expected to convert a large portion of these resources to reserves in 2016. A drilling programme to define high grade resources is underway at Yalea as well. Total ore reserves after depletion decreased by 4% to 4.7 million ounces at 4.6g/t. At neighbouring Gounkoto, total ore reserves remained above 3 million ounces with an 8% increase in grade on the back of an updated underground feasibility study which increased the underground reserve to 1.1 million ounces at 7.2g/t. A lower cost profile and higher grade resource model have highlighted the potential for a superpit mining option, which together with an underground mine is now the subject of a trade-off study planned for completion in 2016.
At Kibali in the Democratic Republic of Congo, total reserves decreased to 10.6 million ounces at 4.1g/t from 11.0 million ounces at 4.1g/t, with mining depletion being partly offset by gains from underground and the Pakaka and Gorumbwa satellite deposit. Resources were down after depletion by 5% as a result of mining and the ongoing assessment of the substantial resource base acquired from Moto.
RANDGOLD RESOURCES ENQUIRIES:
Chief Executive | Financial Director | Investor & Media Relations | ||
Mark Bristow | Graham Shuttleworth | Kathy du Plessis | ||
+44 788 071 1386 | +44 1534 735 333 | +44 20 7557 7738 | ||
+44 779 775 2288 | +44 7797 711 338 | Email: randgold@dpapr.com |
Website: www.randgoldresources.com
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http://www.rns-pdf.londonstockexchange.com/rns/6185T_1-2016-3-30.pdf
