JERSEY, CHANNEL ISLANDS--(Marketwire - July 30, 2010) -
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
GOUNKOTO DISCOVERY CONFIRMS GREAT GOLD UPSIDE IN MALI
Bamako, Mali, 30 July 2010- Randgold Resources' recent discovery of a
world-class gold deposit at Gounkoto in western Mali confirms the
region's potential for further finds of this size, chief executive Mark
Bristow told a media briefing here today.
Gounkoto is located 25 kilometres south of Randgold's Loulo complex,
currently being expanded into a megamine with two open-pit and two
underground operations. The feasibility study on Gounkoto is scheduled
for completion by the end of this year, and Bristow said at this
advanced stage all indications pointed to a substantial high-grade
orebody with relatively simple metallurgy, capable of being converted
into a low-cost, long-life open pit and underground mine."We have always
said that this region had the prospectivity to become
one of Africa's key gold addresses and Gounkoto - along with the
continuing expansion of Loulo itself and the discovery of other
prospects such as Massawa, which is across the border in Senegal but
part of the same structure - has confirmed this belief," Bristow
said."Mali still holds enormous potential for further gold discoveries for
those who are bold enough to invest in the region. It is with this in
mind that we have built a substantial infrastructure at Loulo, capable
of serving as a hub for a growing gold mining industry around it."
Bristow noted that since its establishment 15 years ago Randgold
Resources had been built into a substantial African business which had
attracted investment from the world's primary capital markets into the
development of Africa's mineral resources. The company also owns the
Morila mine in Mali and is currently commissioning a new mine at Tongon
in the Cote d'Ivoire. It also has a 45% stake in the Kibali project in
the Democratic Republic of Congo, one of Africa's largest undeveloped
gold deposits."Randgold has a philosophy of partnership with its host
countries and
it is pleasing to note that our own growth has been accompanied by
significant progress in the development of the West African region and
more recently the beginnings of a similar transformation in Central
Africa as well. Mali has been a leader both in political
democratisation and in the creation of a stable, business-friendly
environment capable of attracting fixed foreign investment in its
mining industry," Bristow said.
Speaking at the same briefing, Randgold's general manager for Mali,
Mahamadou Samake, said the company had a long record of delivering
value for all its stakeholders, including the governments and people of
its host countries. "The challenge for governments is to match our own
investment in and long-term commitment to the development of
sustainably profitable mining industries capable of generating economic
benefits for all their people," he said.
ENQUIRIES:
Chief executive Group GM West Investor & media relations
Mark Bristow Africa Kathy du Plessis
+223 6675 0122 / Mahamadou Samake +44 20 7557 7738
071 1386 +44 788 +223 6675 6136 randgoldresources@dpapr.com
Website: www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold and
there is no assurance they will prove to be correct. Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Randgold (including Kibali) to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related
to the integration of Randgold and Moto, risks related to mining
operations, including political risks and instability and risks related
to international operations, actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, as well as those factors
discussed in the section entitled 'Risk Factors' in Randgold's annual
report on Form 20-F for the year ended 31 December 2009 which was filed
with the US Securities and Exchange Commission (the 'SEC') on 31 March
2010, and in the section entitled 'Risk Factors' in Randgold's
prospectus published on 30 November 2009 in relation to the indirect
acquisition of 10 per cent of the issued capital of Kibali Goldmines
SPRL. Although Randgold has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. Randgold does
not undertake to update any forward-looking statements herein, except
in accordance with applicable securities laws. CAUTIONARY NOTE TO US
INVESTORS: the SEC permits companies, in their filings with the SEC, to
disclose only proven and probable ore reserves. We use certain termsin this
release, such as 'resources', that the SEC does not recognise
and strictly prohibits us from including in our filings with the SEC.
Investors are cautioned not to assume that all or any parts of our
resources will ever be converted into reserves which qualify as 'proven
and probable reserves' for the purposes of the SEC's Industry Guide
number 7.
This information is provided by RNS
The company news service from the London Stock Exchange
END