African gold mining and exploration concern, Randgold Resources, listed on the London Stock Exchange in 1997. Its major shareholder is Randgold & Exploration, a company created in 1992 to take over the gold interests of South Africas oldest mining house, Rand Mines. Randgold Resources is an international gold mining and exploration business, incorporated in the Channel Islands in 1995. It has to date discovered the 7 Moz Morila deposit in southern Mali, the plus 5 Moz Yalea deposit in western Mali and the 3 Moz Tongon deposit in the Ce dIvoire. The Company successfully developed the Morila deposit into one of the worlds largest and highest-margin gold mines. In February 2004 construction started on the new Loulo Gold Mine in Mali which is scheduled to come into production in third quarter of 2005, and a development study is underway on the underground operations. In addition, Randgold Resources has a portfolio of prospective exploration projects across Africa in Mali, Ce dIvoire, Senegal, Burkina Faso, Ghana and Tanzania.

Upper graph  = 12 month share price with 6 month MA (green) + 25 day MA (red)
Shaded area = Bollinger bands

Lower graph  = RSI

more company data here

Black Rock Holding has gone below 15% today, a successful trade I assume.

Kibali prepares to pour first gold.

Results and Update http://www.moneyam.com/action/news/showArticle?id=4646410

Ivory Coast major opportunity for gold investors http://www.moneyam.com/action/news/showArticle?id=4694094

3rd Q. Results http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11766356

Gold hedging and RRS

Oct 9: Numis: Buy - TP: 5100p (down from 5800p on 1 Octobaer).

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On the up and no messing this one.

SP come has come off a bit lately but some more news here http://www.moneyam.com/action/news/showArticle?id=4969219

Profits slip http://www.moneyam.com/action/news/showArticle?id=4973709

Tongon passes major milestone http://www.moneyam.com/action/news/showArticle?id=5138906

Third Qrt. Results and Updates http://www.moneyam.com/action/news/showArticle?id=5146678

Morgan Stanley on gold & RRS:
"FCF of gold producers is at an inflection point. Benefits of improved capital discipline and declining unit costs have become more visible as most companies have shifted their focus from producing more ounces to harvesting returns on existing ounces. This trend has become evident as capital expenditures continue to decline (6-10% YoY decline across our coverage universe). We also see a lower risk of returning to the “old ways” (as discussed in this recent Global Gold Insight Note Global Gold Insight Note) as companies appear to have changed their behaviour by altering management incentives (increased focus on returns) and enshrining capital discipline in dividend policies that link dividend payments either to the gold price or cash generation after maintenance capex. This reduces the likelihood of capital destruction, in our view.
Little exposure to China slowdown, benefits from mining-wide cost deflation. Furthermore, the attraction of gold equities is supported by (1) lower exposure to Chinese demand as compared to industrial metals, and (2) margin resilience due to mining-wide cost deflation especially for mines located in countries with non-USD functional currencies. Our price outlook for gold remains flat in 2016-17, broadly in-line with current spot, while costs are set to decline by c. 10% p.a. across our coverage. We should therefore start to see margin expansion and return improvement across the sector.
Randgold stands out. Within our European coverage, Overweight-rated Randgold Resources is best positioned to take advantage in this environment. While acknowledging the valuation premium as compared to other gold producers, the company has an all-in cash cost estimated fcf yield of greater than on spot in maintains a net cash balance sheet and is well-positioned to benefit from investment opportunities as they arise the current environment."

Ashanti terminated http://www.moneyam.com/action/news/showArticle?id=5180047

Black Rock go below 10% http://www.moneyam.com/action/news/showArticle?id=5207754

Randgold Resources was in a surprisingly robust position in its end-of-year-results on Monday, despite lower gold prices pushing the company's profit down in the 12 months to 31 December 2015.

Production and costs were in line with the company's annual guidance, with the FTSE 100 company setting a new production record of more than 1.2m ounces - up 6% on the previous year.

Group total cash cost per ounce was down 3% to $679 (£467.60) per ounce.

The firm reported strong cash flows from operations, boosting cash on hand by 158% to $213.4m, though profits for the year were down due to lower gold prices - to $212.8m from $271.2m a year earlier.

Nevertheless, Randgold's board proposed a 10% increase in the annual dividend, which the board said reflected the strong cash flows generated by the business.

"It's easy to achieve when the stars are all aligned but it's a lot more difficult in a market as challenged as this one, which makes these results even more pleasing", said chief executive Mark Bristow.

Black Rock Inc. go above 10% http://www.moneyam.com/action/news/showArticle?id=5245430

PROGRESSIVE DIVIDEND MAINTAINED AS RANDGOLD BUILDS CASH FOR FUTURE GROWTH

London, 31 March 2016 - In its annual report for 2015, published today, Randgold Resources reaffirmed its intention to continue to pay a progressive ordinary dividend that will increase or at least be maintained annually. The board has proposed a 10% increase in the 2015 dividend to $0.66 per share for approval at its annual general meeting on 3 May 2016.

Commenting on this statement, financial director Graham Shuttleworth said that at a time when the gold mining industry was focused on survival, Randgold was able to maintain its dividend policy on the back of last year's strong performance. He confirmed that the company still intended to build its net cash position to approximately $500 million to provide financing flexibility for future new mine developments and other growth opportunities.

Panmure Gordon today reaffirms its hold investment rating on Randgold Resources Ltd (LON:RRS) and raised its price target to 6000p (from 4300p).