London, 30 March 2015 - Randgold Resources is looking at the growth opportunities being generated by the current squeeze on the gold mining industry, chief executive Mark Bristow says in the company’s 2014 annual report, published today.
Bristow notes that Randgold has solid operations with strong cash flows, a robust balance sheet with no debt and substantial cash, and a share price which for years has consistently outperformed the market. Its five year forecast shows a growing production profile and a reduction in costs.
“Organic growth will remain our core driver but, as we look ahead from this position of strength, we will consider opportunities that are often generated by stressed markets and may well elect to play a part in the likely restructuring of the gold mining industry,” he says.
Also in the report, chairman Christopher Coleman says the industry’s overall operating environment was more complex than at any time since the Nineties. “The board and management continue to look closely at all the realistically conceivable scenarios for the next five years, identifying the opportunities and obstacles that lie ahead, and incorporating them in our planning,” he says.
The 2014 annual report and accounts has been posted to shareholders and is available for viewing and/or downloading from Randgold’s website at www.randgoldresources.com. A copy of the 2014 annual report and accounts has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do. A copy of the 2014 annual report and accounts will also be submitted to Randgold’s annual general meeting to be held on at 10.30 am on Tuesday 5 May 2015.
Once Randgold has filed its annual report on Form 20-F for the 12 months ended 31 December 2014 with the US Securities and Exchange Commission, which is expected to occur on Monday 30 March 2015, that report will also be available for viewing and/or downloading from Randgold’s website and at www.sec.gov.
Randgold Resources Ltd NASDAQNM:GOLD 05:06 71.44 USD +0.48 +0.68% |
