28th Sep 2005 15:00
Randgold Resources Ld28 September 2005 Randgold Resources LimitedIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNasdaq Trading Symbol: GOLD RANDGOLD RESOURCES POURS FIRST GOLD AT NEW LOULO MINE Bamako, Mali, 28 September 2005 (LSE:RRS)(Nasdaq:GOLD) - London and Nasdaqlisted gold miner Randgold Resources today announced that it had poured thefirst gold at its new Loulo mine in Mali, signalling the start-up of production. Chief executive Dr Mark Bristow said the mine was expected to build up to designlevels of commercial production in October, with its first commercial shipmentof bullion due in November. This will initiate a five-year tax holiday for themine as prescribed by Mali's mining code. "The first gold pour is an event of great symbolic significance in thedevelopment of a new mine. In the case of Loulo, it crowns a considerableachievement by the Randgold Resources team, which fast-tracked this project inthe face of substantial logistical odds while at the same time driving ahead ourexploration programmes," Bristow said. Loulo is the second world-class gold mine discovered and developed by RandgoldResources within five years. The other, Morila, has produced almost 3.5 millionounces of gold since it was commissioned in October 2000. Randgold Resources is an international gold mining and exploration businessfocused on Africa. Its mission is to discover, develop and manage goldprojects. RANDGOLD RESOURCES ENQUIRIES: Chief Executive Financial Director Investor & Media RelationsDr Mark Bristow Roger Williams Kathy du Plessis+44 779 775 2288 +44 791 709 8939 +27 11 728 4701 Cell: +27 (0) 83 266 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 reserves and mine life. For adiscussion on such risk factors refer to the annual report on Form 20-F for theyear ended 31 December 2004 which was filed with the United States Securitiesand Exchange Commission on 29 June 2005, as subsequently amended. RandgoldResources sees no obligation to update information in this release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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