Welcome!

Cloud Expo Authors: Elizabeth White, Liz McMillan, Pat Romanski, Vormetric Blog, AppDynamics Blog

News Feed Item

RANDGOLD RESOURCES LIMITED: 3rd Quarter Results

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 11/07/12 --


RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD

RANDGOLD HOLDS COURSE IN CHALLENGING QUARTER

Substantial progress at the Kibali gold
mine development project and Randgold's flagship Loulo complex was
offset by grid power supply problems at the Tongon mine and lower
grades processed at Gounkoto, as Randgold Resources' third quarter
results held steady but did not match its record second quarter
performance.

Q3 profit of US$121.3 million was down 15% on the prior quarter,
primarily on the back of lower sales, but in line with the
corresponding quarter in 2011. Production was 204475ounces of gold
against Q2's 210534ounces and 182362ounces in Q3 of 2011, while the
total cash cost per ounce was US$737 (Q2: US$703/Q3 2011: US$747).
Ounces sold dropped by 10% quarter on quarter, affected by the timing
of gold shipments at quarter end being disrupted by the annual stock
take at the refinery.

Highlight of the quarter was the strong improvement at Loulo, which
increased production by 78% and reduced total cash cost per ounce by
8%. Tonnes mined and processed were mostly from Loulo's two
underground mines, Yalea and Gara, which are now beginning to deliver
their full potential. Both mines also achieved a steady rise in
stoping and development rates.

Relative to Loulo's improved delivery, Gounkoto's contribution to the
complex's results was down as forecast, however grades processed were
lower than planned due to less ore being mined and more medium grade
stockpiled material being fed to make up for increased plant
throughput. Meanwhile, a geotechnical review has confirmed the
potential for an underground mine at Gounkoto, where an underground
resource of more than 1millionounces at a grade in excess of 5g/t has
been identified. Infill drilling for a prefeasibility study, due for
completion early in 2013, is underway.

Kibali's development remained on track for first gold production by the
end of 2013. All key contracts have now been agreed and the mine's
costing schedule has been finalised. While open pit mining has already
started, the plant foundations are being readied to receive the two
giant mills currently being trucked to the site from the port of
Mombasa. The site clearing programme is also on schedule, with more
than 1000families already resettled in the new model village of
Kokiza.

Tongon suffered from frequent outages in its national grid power
supply, which continued to impact negatively on plant availability and
recovery and hence on production and costs. Since the mine was
connected to the grid last December, the erratic power supply has cost
it some 50000ounces in lost production. While below plan, production
of 56381ounces was in line with that of the prior quarter. Steps
being taken to stabilise the power supply include the installation of a
new capacitor bank and five additional generator sets, as well as a
reconfiguration of the power house feeder arrangement.

In Senegal, Massawa is one of the largest undeveloped orebodies in
Africa at 3millionounces. Exploration continues to find additional
ounces as well as to improve Randgold's understanding of this complex
deposit. Pilot plant testwork to determine the project's optimal
operational parameters is scheduled for next year. Randgold is
currently in discussion with the Senegalese government about the
possibility of securing a hydropower supply.

Chief executive Mark Bristow described the third-quarter results as a
mixed bag, but with the good far outweighing the bad. "The challenges
we faced are to be expected when you develop and run mines in remote
parts of Africa and, as our record shows, we're more than capable of
managing them. They should not cloud the real achievements of the
quarter, particularly the fine performance by Loulo's underground mines
and the rapid progress we continue to make at Kibali. Production and
costs for the final quarter are forecast to again show significant
improvements" he said.


RANDGOLD RESOURCES ENQUIRIES:

Chief Executive  Financial Director   Investor & Media Relations
Mark Bristow     Graham Shuttleworth  Kathy du Plessis
+447880711386    +441534735333        +442075577738
+447797752288    +447797711338        Email: [email protected]

Website: www.randgoldresources.com


-----------------------------------------------------------------------

Click on, or paste the following link into your web browser, to view
the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/4556Q_1-2012-11-6.pdf



                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer Services
0044-207797-4400
Email Contact
http://www.rns.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@CloudExpo Stories
Datapipe has acquired GoGrid, a provider of multi-cloud solutions for Big Data deployments. GoGrid’s proprietary orchestration and automation technologies provide 1-Button deployment for Big Data solutions that speed creation and results of new cloud projects. “GoGrid has made it easy for companies to stand up Big Data solutions quickly,” said Robb Allen, CEO, Datapipe. “Datapipe customers will achieve significant value from the speed at which we can now create new Big Data projects in the clou...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your o...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Media announced today that PagerDuty has launched a popular blog feed on DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done.
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that ...
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...