General
Cape Town, 9 February 2015 - Randgold Resources increased group gold production by 26% in 2014 while reducing total cash costs by 2%, and ended the year with no borrowings and more than $100 million in cash, cash equivalents and gold on hand.

Results for the year to December, published today, show profit down 17% at $271.2 million, mainly as a result of the drop in the gold price, but the board nevertheless proposed a 20% increase in the final cash dividend to 60 US cents per share, subject to shareholder approval, reflecting the strong cash flow from the group. Group production totalled 1 147 414 ounces (2013: 910 374oz) and the total cash cost per ounce was $698 (2013: $715).

The company’s operations all performed robustly, with its flagship Loulo-Gounkoto complex in Mali increasing production in line with guidance by 10% to 639 219 ounces and reducing total cash cost per ounce by 4% to $672. In its first full year of operation, Kibali in the Democratic Republic of Congo continued to ramp up production, delivering 526 627 ounces at a total cash cost of $573/oz.

Tongon in Côte d’Ivoire was still in the final stages of a crusher and flotation circuit upgrade programme at year end but its production of 227 103 ounces at a total cash cost of $872/oz was within 3% of its revised guidance.


GENERAL NOTES
The past year saw a big step-up in production across the group, resulting in an annual increase of 26%, in line with the guidance given at the start of the year, while total cash cost per ounce reduced, also in line with guidance. Looking ahead, the group continues to forecast an increasing production profile over the next four years. In 2015, the group forecast production is estimated at between 1.20 and 1.26Moz which is a 5% to 10% increase over 2014. Production is expected to be relatively consistent across the year. Management is targeting total cash cost per ounce for the group, after royalties, of between $650/oz and $700/oz for the year.

Given Randgold’s commitment to growing through discovery and development, the company will continue to commit significant expenditure to exploration, with corporate and exploration expenses of approximately $60 million anticipated in 2015. Total group capital expenditure, including our attributable share of joint ventures, is expected to be approximately $330 million. At Kibali, capital of approximately $280 million (100% of project) is expected, mostly relating to the underground shaft developments and hydropower project. Ongoing development of the underground mines at Loulo, as well as other projects, is planned to cost $150 million, while Gounkoto is forecasting $5 million, mostly on the underground mine development project. Capital at Tongon, including completion of the flotation circuit expansion, is estimated at $20 million, and $12 million is expected at Morila (100% of project), mostly on the TSF retreatment project. Continued work on the Massawa feasibility project is forecast to incur capital expenditure of approximately $10 million.

The group’s updated annual reserve statements will be published with the release of its annual report, scheduled for the end of March 2015.

Randgold continues to maintain its focus on organic growth through the discovery and development of world class orebodies, and has a pipeline of high quality projects and exploration targets. Notwithstanding this core strategy, the company routinely reviews corporate and asset acquisition and merger opportunities.

The directors confirm to the best of their knowledge that:

a) These fourth quarter results have been prepared in accordance with IAS 34 as adopted by the European Union; and

b) The interim management report includes a fair review of the information required by the FCA’s Disclosure and Transparency Rules (4.2.7R and 4.2.8R).

By order of the board

09 February 2015 - Further to the announcement of Randgold Resources’ fourth quarter and year end results for the period ended 31 December 2014 which included a recommendation from the board of directors that an annual dividend of US$0.60 per share be paid subject to the approval of the company’s shareholders at the company’s annual general meeting on Tuesday 5 May 2015,

Cape Town, 9 February 2015 - Randgold Resources increased group gold production by 26% in 2014 while reducing total cash costs by 2%, and ended the year with no borrowings and more than $100 million in cash, cash equivalents and gold on hand.

Results for the year to December, published today, show profit down 17% at $271.2 million, mainly as a result of the drop in the gold price, but the board nevertheless proposed a 20% increase in the final cash dividend to 60 US cents per share, subject to shareholder approval, reflecting the strong cash flow from the group. Group production totalled 1 147 414 ounces (2013: 910 374oz) and the total cash cost per ounce was $698 (2013: $715).

The company’s operations all performed robustly, with its flagship Loulo-Gounkoto complex in Mali increasing production in line with guidance by 10% to 639 219 ounces and reducing total cash cost per ounce by 4% to $672. In its first full year of operation, Kibali in the Democratic Republic of Congo continued to ramp up production, delivering 526 627 ounces at a total cash cost of $573/oz. Tongon in Côte d’Ivoire was still in the final stages of a crusher and flotation circuit upgrade programme at year end but its production of 227 103 ounces at a total cash cost of $872/oz was within 3% of its revised guidance.