4th Aug 2005 10:00
Randgold Resources Ld04 August 2005 RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNasdaq Trading Symbol: GOLD SHARE PRICE MAKES STRONG GAINS London, 4 August 2005 - Since its listing on Nasdaq in July 2002, RandgoldResources' share price has increased by more than 300%, significantlyoutperforming its peers. In the first six months of 2005 alone it has risen bymore than 30%. Patrick Chidley, a mining analyst at BJM in New York says that in spite of thissustained rise, there is still plenty of upside in the Randgold Resources shareprice relative to its peer group. "In our opinion, Loulo ranks as one of the top five gold projects not owned by amajor producer in the world today. We believe that if the currently outlinedpotential in the underground project becomes tangible, this will inevitablydrive up the stock," he said. Victor Flores, senior mining analyst at HSBC and coordinator of its global goldsector research, notes that with the impending start-up of Loulo and a betteroperating performance by Morila, Randgold Resources' fundamentals have moved tothe positive. "The valuation of the shares appears to largely factor this in, and probablyalso takes into account the sale of shares by Randgold & Exploration. This hasaided in generating positive momentum," Flores writes in HSBC's Senior Gold Bookfor 2005. "Our share price graph says it all to our shareholders as well as to assetmanagers who will be interested to see how our performance compares with a peergroup of solid companies in the gold mining industry," adds Randgold Resourceschairman Philippe Lietard. 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) 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 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:
Randgold Resources