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

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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.

Cracking share to hold.

Back to £80 with the rising gold price.

Ye hah! In yesterday and out this morning +5% most satisfying.

Jersey, Channel Islands, 28 March 2017 - After its record-breaking performance last year, Randgold Resources is strongly positioned to sustain profitable production, and continue delivering value to all stakeholders, well into the future, says chief executive Mark Bristow in the company's 2016 annual report published today.

Bristow notes that after a slow start to the year, Randgold increased production to a new high of 1.25 million ounces to achieve its annual guidance. All the operations contributed to this effort, with its flagship Loulo-Gounkoto complex in Mali posting particularly good results.

"We achieved, and exceeded our net cash target of $500 million and remained debt-free. We drove down our total cash cost per ounce of production and our profit rose by 38%. We completed or advanced our capital projects. We reduced our lost time injury frequency rate to its lowest level ever. We continued to replenish our attributable group reserves and made significant progress towards our goal of identifying three new potential projects that fit our investment criteria in the next five years," he says.

Bristow says the immediate future is already taking shape with Kibali in the Democratic Republic of Congo on track for completion of the underground shaft facility this year, the development of a super pit at the Gounkoto mine in Mali going ahead, and the Massawa project in Senegal looking increasingly viable as the next Randgold mine.

The company's 10-year business plan, shared with the market last year, shows a business which will remain profitable at a long term gold price of $1 000/oz while producing at an average annual rate of approximately 1.2 million ounces and generating cash that will support continued investment in the future as well as dividends.

"It is worth noting that with our big capital projects nearing completion and a cost profile trending down, Randgold is a truly profitable business capable of delivering value to all stakeholders," he says.

Foremost among these stakeholders are the governments and people of Randgold's host countries.

"It is their support and cooperation that makes it possible for us to build and operate mines in some of the remotest parts of the world. We have proved over the years that we are there not to exploit these countries but to unlock the value of their mineral resources so that all may benefit."

Also in the annual report, chairman Christopher Coleman says Randgold continues to place a strong emphasis on the entrenchment of its social licence, which it regards as an essential requirement for business success in Africa.

Its extensive social responsibility initiatives include Nos Vies en Partage, the independent charitable foundation Randgold established to support quality of life improvement programmes in Africa, particularly those which support women and children.

"In his latest fundraising motorcycle safari through Africa last year, Mark Bristow and his team raised a further $2.5 million for the foundation," Coleman says.

1st Q results out today, looks decent.

Black Rock go above 10% http://www.moneyam.com/action/news/showArticle?id=5551660

Black Rock go below 10% http://www.moneyam.com/action/news/showArticle?id=5559497

RANDGOLD SCHEDULES MASSAWA PROJECT FOR FEASIBILITY FINALISATION

Dakar, Senegal, 28 June 2017 - The feasibility study on Randgold Resources' Massawa gold project in Senegal is scheduled for completion by the middle of next year, when a final decision on its development will be made, chief executive Mark Bristow said here today.

Speaking at a media briefing to mark the start of the annual three week review of Randgold's exploration projects in Senegal, Mali, Côte d'Ivoire and the DRC, Bristow said the company's recent discovery of the nearby Sofia deposit, which has been incorporated in the project, had significantly increased Massawa's viability, as its low-cost, high-recovery ore would enhance the overall economics.

"As things stand today, Massawa has a mineable reserve of 2.6 million ounces and the project has an internal rate of return of 18% at a gold price of $1 000 per ounce, which is a little short of our investment criteria of a 3 million ounce reserve and a 20% IRR (internal rate of return). The detailed drilling required for the feasibility study as well as our continuing exploration of extensions to and satellites around the known orebodies should get the project across the line," he said.

"In that case, Massawa will become the sixth mine Randgold has developed and our first in Senegal. It will also be the first of the three new projects we plan to deliver over the next five years."

Bristow pointed to Massawa as a further example of Randgold's long-term planning and perseverance. The company started exploring in Senegal in 1995, the year Randgold was established, discovered Massawa in 2004 and then spent a long time getting to grips with the geological and metallurgical complexities of the orebody and has spent $85 million to date evaluating and advancing its Senegal portfolio. While developing Loulo, Tongon, Gounkoto and Kibali, Randgold kept the work on Massawa going as well, and the project finally moved to centre stage with the discovery of Sofia in 2016.

"We are also looking beyond Massawa with our sights set on expanding our exploration portfolio and continuing our search for additional discoveries and development opportunities in Senegal."

RANDGOLD ENQUIRIES:
Chief Executive
Mark Bristow
+44 788 071 1386
+223 66 75 01 22

Group Exploration Manager
Joel Holliday
+44 778 619 1523

Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: randgold@dpapr.com

Website: www.randgoldresources.com

Tongon sustains performance improvement: http://www.moneyam.com/action/news/showArticle?id=5597322