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.

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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).

Credit Suisse today reaffirms its neutral investment rating on Randgold Resources Ltd (LON:RRS) and raised its price target to 6700p (from 6400p).

StockMarketWire.com
Randgold Resources has hiked its March-quarter pretax profit to USD85.3m, from USD60.98m. Revenue totalled USD267.56m, from USD231.23m. Shareholders have approved a 10% rise in annual dividend to USD0.66 a share.

The company's flagship operation, the Loulo-Gounkoto complex in Mali, delivered a robust performance in the quarter to March when its Kibali and Tongon mines were impacted by commissioning and other technical issues. This enabled the company to post a profit increase for the first quarter compared to the previous quarter and comparative prior year quarter.

"The group also posted a significant improvement in safety with three out of five operations reporting zero lost time injuries for the quarter. Likewise the ongoing fight against malaria delivered another step decrease in incidence rate and all operations retained their international safety certifications with only Kibali still working towards certification, planned for this year," Randgold said in a statement.

"While production was down 11% from the previous record quarter at 291 912 ounces, the profit of $63.9 million was 19% higher than that of the previous quarter and 25% up on the corresponding quarter in 2015.

"This reflected Randgold's tightened focus on the profitability of its mines and a 9% increase in the average gold price received for the period.

"Total cash costs of $189.0 million were down 8% on the previous quarter, thanks mainly to Loulo, where the transition from contract mining to owner mining started paying off in terms of improved efficiencies and lower operating costs.

"At Kibali in the Democratic Republic of Congo, the two mill circuits, usually split between sulphide and oxide ores, were both campaigned on sulphides for an extended period in preparation for the ramp-up in underground ore.

"Interruptions associated with this process before its successful completion, compounded by a week-long breakdown of one of the ball mills, negatively affected production and costs.

"In Cote d'Ivoire, commissioning of Tongon's fourth crushing stage, which completes the mine's flotation upgrade and crushing extension project, took longer than expected, and the operation was also hit again by the recurring instability of the power supply from the national grid.

"Tongon continues to engage with the government and the power utility on this issue and is also expanding its own generating capacity.

"Morila in Mali remained profitable even while milling material with a head grade of 0.7g/t showing a significant improvement in cost and profitability compared to last quarter.

"Preparations for the transition to the treatment of tailings are well underway while discussions with the government and the local community regarding the Domba project are still continuing."

HIGHLIGHTS:
* Production down 11% quarter on quarter but up 4% on corresponding quarter of prior year

* Total cash cost/oz up 3% quarter on quarter but down 8% on corresponding quarter of prior year

* Cash increases 19% to $253.8 million on the back of reduced total cash costs and higher gold price

* Solid quarter from Loulo-Gounkoto with production in line with plan and significant decrease in total cash cost/oz

* Morila delivers steady performance with lower costs

* Tongon production impacted by quaternary crushers commissioning and power supply interruptions

* Kibali completes challenging quarter including optimising 100% sulphide feed, compounded by mill downtime

* New Moku JV adds 1 275km2 to Randgold exploration portfolio in same greenstone belt as Kibali

* West African exploration programmes deliver positive borehole and trench results

Jefferies International today upgrades its investment rating on Randgold Resources Ltd (LON:RRS) to buy (from hold) and raised its price target to 10500p (from 6000p).

StockMarketWire.com
Randgold Resources has improved its H1 pretax profit to $165.3m, from $132.9m, with revenue for the period firming to $522.4m, from $478.8m.

It said gold sales for the half totalled $700.2m, from $699.4m, with group total cash cost per ounce at $687, from $695. It produced 573,406 ounces, from 579,570 ounces.

The company said its production and costs were hit in the quarter to June by a long mill downtime at Tongon and the Kibali plant's continuing transition to a mixed-ore feed.

It added that the improvement expected in H2 should boost its 2016 results to within its market guidance.

CEO Mark Bristow described the Rangold's Q2 as one of the toughest in years, but said in June and July both Tongon and Kibali had made significant progress.

"Looking ahead at the rest of the year, all our teams have been reworking and optimising their mine plans to ensure that we end 2016 within guidance," he said in a statement.

"In addition, we're intensifying our focus on critical operational issues to ensure that we deliver a substantial second-half improvement," he said.

Bristow said in addition to another strong performance by the Loulo-Gounkoto complex, the quarter's highlight was the significant advances made by its exploration teams. "The quality and scope of our exploration portfolio continue to grow and there is a solid pipeline of projects being developed through our resource triangle, from grassroots and generative work to resource definition.

"I believe we have at least three advanced targets, already scheduled for drill test campaigns, with real potential to become important assets," he said."

HIGHLIGHTS:
- Profit down 8% quarter on quarter but up 11% on corresponding 6 months of prior year

- earnings per share for the 6 months of $1.10 in line with corresponding 6 months of prior year

- Production down 4% quarter on quarter and in line with corresponding 6 months of prior year

- Total cash cost/oz up 12% quarter on quarter but down 1% on corresponding 6 months of prior year

- Net cash generated from operations increases 6% and cash up 7% to $272.7 million

- Another solid quarter from Loulo-Gounkoto with production ahead of guidance

- Morila delivers steady performance with Domba not yet permitted

- Tongon production down 7% quarter on quarter as a result of extended mill downtime

- Tongon joins Gounkoto as it pays its maiden dividend to shareholders

- Kibali production down 6% quarter on quarter as it builds ore feed flexibility

- Lost time injury frequency rate improves by 7% from 0.59 to 0.55 year on year

- Gara extension drilling identifies significant potential to extend Life of Mine

- Greenfields exploration bolsters resource triangle and delivers 3 advanced targets

- BoyzonBikes raises $2.7 million to support NVEP Foundation

Nice rebound off £70.

Now £55 to buy.

Price of gold still dropping. Not sure this is a good time to buy any of the gold stocks.

Price of gold still dropping. Not sure this is a good time to buy any of the gold stocks.

It looks oversold to me Harry...gold that is.

Looks good here.

Berenberg today upgrades its investment rating on Randgold Resources Ltd (LON:RRS) to buy (from hold) and raised its price target to 7400p (from 7190p).

Credit Suisse today (31/01/17) downgrades its investment rating on Randgold Resources Ltd (LON:RRS) to neutral (from outperform) and cut its price target to 6970p (from 9200p)

Blackrock go below 10%.

StockMarketWire.com
Randgold Resources has hiked its FY profit to $294.2m, up 38% on the year, and proposed lifting its FY dividend by 52% to $1 a share after improving production for a sixth consecutive year.

It said flagship Loulo-Gounkoto in Mali set a blistering pace to exceed its annual guidance by 37000 ounces at its lowest ever total cash cost per ounce, and solid performances from the other mines contributed to the record group production of 1.25m ounces (2015: 1.21m ounces).

The group's total cash cost per ounce of $639 was down 6% on the previous year.

Randgold added that, in spite of the high level of activity at its operations, it broke another record by reducing its lost time injury frequency rate by 22% to a lowest ever 0.46.

CEO Mark Bristow confirmed Randgold had passed its net cash target of $500m, with $516.3m in the bank at the end of 2016, and no debt.

He said Tongon in Cote d'Ivoire had achieved its revised production guidance and reduced its total cash cost per ounce while Kibali in the Democratic Republic of Congo came back strongly after a slow first half and upped quarter-on-quarter production by 21% in Q4.

"The shaft development of Kibali is scheduled for completion by the end of this year with the integration of its underground mine's decline and vertical shaft systems," Bristow said.

"Kibali's second hydropower station has just started commissioning while the third station is currently being built by an all-Congolese contracting team."

Randgold's first mine, Morila in Mali, was now a tailings retreatment operation but continued to make a contribution towards its rehabilitation costs.

"As it heads for closure in 2019, Morila has advanced its plans for an agribusiness centre -- which will encompass the wide range of agribusiness projects it initiated over the years -- to the point where this qualifies for government support as an agripole.

"The development of this project is in line with Randgold's policy that its host communities should benefit from its activities, even after mine closures," Bristow added.

"We have shared with the market our 10-year plan, which shows how we plan to sustain our profitability over the next decade at a gold price of $1 000 per ounce. It also envisages -- but does not depend on -- the development of three new mines over the next five years," Bristow said.

He added that directors had now given the go-ahead for the Gounkoto super pit and the technical and financial study on the Massawa-Sofia project in Senegal had demonstrated that this has the potential to meet the company's investment criteria.

"In the meantime, our exploration programmes have continued to add reserves at Loulo-Gounkoto and Sofia and to expand our portfolio in Cote d'Ivoire. As reported earlier, we have also increased our presence in our target areas through a number of early-stage joint ventures."

I don't hold but VG results today.