Randgold & Exploration Company Limited - Randgold Resources Morila Gold Mine
Release Date: 12/12/2002 08:50:08 Code(s): RNG
Randgold & Exploration Company Limited - Randgold Resources Morila gold mine
joins millionaires` club
Randgold & Exploration Company Limited
Reg No 1992/005642/06
Sharecode : RNG
ISIN : ZAE000008819
NASDAQ trading symbol: RANGY
For further information call:
(CEO) Mark Bristow (0)82 800 4293 or +44 779 775 2288
RANDGOLD RESOURCES :
MORILA GOLD MINE JOINS MILLIONAIRES` CLUB
Bamako, Mali, 11 December 2002 - The Morila mine in Mali yesterday poured its
millionth ounce of gold this year, making it one of the few in the world to
achieve this target. Morila is jointly owned by Randgold Resources and
AngloGold, each of which has a 40% interest in the mine, with the government of
Mali holding the rest.
Morila, which was discovered and developed by Randgold Resources, poured its
first gold in October 2000 and went into full production in January 2001. Since
then, it has produced almost 2 million ounces of gold at a total cash cost of
less than US$100 per ounce, a performance that ranks it among the highest-margin
producers in the global gold industry. Continuing exploration has already
partially replaced the mine`s depleted reserves and recent geological modelling
has indicated potential orebody extensions to the southwest, east and west.
There are further opportunities to discover Morila style orebodies both within
the 200km} mining lease area and also within the Company`s 3000km} land position
surrounding the Morila JV area.
Issued on behalf of Randgold Resources Limited by du Plessis Associates. dPA
contact Kathy du Plessis on Tel: 27(11) 728 4701, mobile: (0)83 266 5847 or e-
mail randgoldresources@dpapr.com
NOTE ON RANDGOLD RESOURCES:
Randgold Resources (Nasdaq: GOLD and LSE:RRS) was incorporated in August 1995,
listed on the London Stock Exchange in July 1997 and on the Nasdaq in July 2002.
Its business is surface gold mining and exploration and its activities are
focused on West Africa. Further details can be found at
www.randgoldresources.com
DISCLAIMER:
Statements made in this release with respect to Randgold Resources` current
plans, estimates, strategies and beliefs and other statements that are not
historical facts are forward-looking statements about the future performance of
Randgold Resources. These statements are based on management`s assumptions and
beliefs in light of the information currently available to it. Randgold
Resources cautions you that a number of important risks and uncertainties could
cause actual results to differ materially from those discussed in the forward-
looking statements, and therefore you should not place undue reliance on them.
The potential risks and uncertainties include, among others, risks associated
with: fluctuations in the market price of gold, gold production at Morila,
estimates of reserves and mine life and liabilities arising from the closure of
Syama. Randgold Resources assumes no obligation to update information in this
release.
Date: 12/12/2002 08:50:00 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
