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Trading statements

Randgold Res. makes strong start to Q1

04 May 2017 07:28

Randgold Resources says it has made a strong start in Q1 2017, setting the group on track to achieve its guidance for year.

Q1 gold production was up 10% on the year at 322 470 ounces, with profit up 33% to $84.9m and total cash costs down 4% to $619/oz.

"The group did not match the previous quarter's record results however, with gold production down 15%, profit down 10% and total cash costs up 13% on this comparison," said Randgold.

"Cash continued to increase, rising by 16% to $600m, with no debt, and earlier this week shareholders approved a 52% hike to $1.00 per share in the annual dividend."

CEO Mark Bristow said Q1 was always a particularly busy one for Randgold and the past one had been no exception.

"Despite work stoppages that impacted operations at both the Loulo-Gounkoto complex in Mali and Tongon in Cote d'Ivoire, and the continuing ramp-up to full production at Kibali, the group's overall performance was its best for several years," he said.

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