5th Aug 2005 07:00
Randgold Resources Ld05 August 2005 RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD RESOURCES CELEBRATES 10th ANNIVERSARY ON BACK OF ANOTHER PROFITABLEHALF-YEAR London, 5 August 2005 - London and Nasdaq listed gold miner Randgold Resourcestoday marked the tenth anniversary of its incorporation in 1995 after yesterdayreporting a US$35 million profit from mining for the six months to June - a208% increase over the first half of 2004. Speaking ahead of a commemorative banquet at The Savoy, chairman PhilippeLietard noted that the company had been built from a zero base to a marketcapitalisation of just under US$1 billion over this relatively short period,much of which had coincided with a severe slump in the gold market. Randgold discovered the world-class Morila deposit in Mali and developed it intoa mine which has produced some 3 million ounces of gold since it startedproduction in October 2000. It is currently developing its second mine -Loulo, also in Mali - which is scheduled to go into production later thismonth. The company yesterday announced that it had also decided to proceed withthe development of an underground mine at Loulo to complement and extend theopen-cast operation now being commissioned. The company holds a total land package of more than 11 500 km(2) containing 141targets in six African countries. Its interests also include the Tongon projectin Cote d'Ivoire which is at pre-feasibility stage. "Ten years ago Randgold Resources was designed to offer the market a distinctalternative to conventional gold mining businesses through the creation of realvalue through discovery and development. Since then, it has established aunique track record of delivering on its promises. The market has recognisedthis consistent achievement by according it a leadership position among the goldindustry's mid-cap companies," Lietard said. RANDGOLD RESOURCES ENQUIRIES: Chief Executive - Dr Mark Bristow +44 779 775 2288 Financial Director - Roger Williams +44 791 709 8939 Investor & Media Relations - Kathy du Plessis +27 11 728 4701, Cell: +27 (0) 83266 5847, Email: [email protected] 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 arenot historical facts are forward-looking statements about the future performanceof Randgold Resources. These statements are based on management's assumptionsand beliefs in light of the information currently available to it. RandgoldResources cautions you that a number of important risks and uncertainties couldcause actual results to differ materially from those discussed in theforward-looking statements, and therefore you should not place undue reliance onthem. The potential risks and uncertainties include, among others, risksassociated with: fluctuations in the market price of gold, gold production atMorila, the development of Loulo and estimates of resources, reserves and minelife. For a discussion on such risk factors refer to the annual report on Form20-F for the year ended 31 December 2004 which was filed with the United Statessecurities and exchange commission (The 'SEC') on 29 June 2005. RandgoldResources sees no obligation to update information in this release. Cautionarynote to US investors; the SEC permits companies, in their filings with the SEC,to disclose only proven and probable ore reserves. We use certain terms in thisrelease, such as "resources", that the SEC does not recognise and strictlyprohibits us from including in our filings with the SEC. Investors arecautioned not to assume that all or any parts of our resources will ever beconverted into reserves which qualify as 'proven and probable reserves' for thepurposes of the SEC's industry guide number 7. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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