Randgold Resources: Q2 results and updates

JERSEY, CHANNEL ISLANDS–(Marketwired – Aug 3, 2017) – Randgold Resources (NASDAQ: GOLD) (LSE: RRS)
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
Randgold Resources has sustained its strong performance record with second-quarter results that have positioned it well to achieve its guidance for 2017.
Results for the quarter and the half-year to June, published today, show continuing growth in production and profit and a further reduction in total cash cost per ounce. The company’s cash pile rose over the first six months to $572.8 million despite the payment of the 2016 dividend of $94.0 million.
The Q2 profit of $102.8 million was up 21% on the previous quarter and the half-year profit of $187.7 million was up 53% on the corresponding period in 2016. Production of 341 316 ounces for the quarter and 663 786 ounces for the half-year were 6% and 16% higher respectively, while total cash cost per ounce of $572 for the quarter and $595 for the half-year were down 8% and 13%. Earnings per share of $0.89 for the quarter and $1.64 for the half-year were up 20% and 49%.
Chief executive Mark Bristow said the second quarter had been a good one for Randgold, both operationally and on the exploration and new business front.
The flagship Loulo-Gounkoto complex delivered another robust performance, Tongon increased its production and Kibali finalised preparations for its underground ramp-up later this year while significantly improving its plant stability and recoveries. Morila’s numbers were in line with plan and it completed the permitting process for mining the Domba satellite deposit.
“At this stage the outlook is positive, and Randgold is trending towards the top end of its 2017 production guidance range at a total cash cost below $600 per ounce,” Bristow said.

Chief Executive
Mark Bristow
+44 788 071 1386
+44 779 775 2288
Financial Director
Graham Shuttleworth
+44 1534 735 333
+44 779 771 1338
Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: randgold@dpapr.com

Website: www.randgoldresources.com
Click on, or paste the following link into your web browser, to view the associated PDF document.

If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.