1. Randgold Resources is an African focused gold mining and exploration company with listings on the London
Stock Exchange (RRS) and NASDAQ (GOLD).
Major discoveries to date include the 7.5Moz Morila deposit, the 7.2Moz Yalea deposit and the 5.9Moz
Gounkoto deposit, in Mali, the 4.9Moz Tongon deposit in Côte d’Ivoire and the 3.7Moz Massawa deposit in
eastern Senegal. Randgold Resources Limited (Randgold) financed and built the Morila mine which, since
October 2000, has produced more than 6Moz of gold and distributed more than $2 billion to stakeholders.
It also financed and built the Loulo operation which started as two open pit mines in November 2005. Since
then, two underground mines have been developed at the Yalea and Gara deposits.
The company’s Tongon mine in Côte d’Ivoire poured its first gold in November 2010.
Production from the Gounkoto open pit operation, south of Loulo, began in 2011 and a recently completed
feasibility study has confirmed the viability of an underground mine planned to start in 2018.
In 2009, Randgold acquired a 45% interest in the Kibali project in the Democratic Republic of Congo (DRC).
Since the acquisition, Randgold’s geologists have been instrumental in more than doubling the mine’s ore
reserves to 11Moz, making it one of the largest gold deposits in Africa. The mine was developed and is being
operated by Randgold. First gold was poured in the third quarter of 2013.
Randgold also has a major project at Massawa in Senegal and an extensive portfolio of organic growth
prospects, supported by intensive exploration programmes in Côte d’Ivoire, DRC, Mali and Senegal.
LSE : RRS • NASDAQ : GOLD
www.randgoldresources.com
Facts&FiguresMay 2016
Delivering
sustainable
value
Key strengths
■ Proven ability to discover multi-
million ounce gold deposits and
convert them into profitable mines
■ Substantial pipeline of future
prospects – group production
continues to grow
■ Cost profile to benefit from
improving grade and additional
production
■ Solid balance sheet to support
funding of new developments
■ Expanding footprint in major West
and Central African gold fields
■ Pure gold focus gives undiluted
exposure to gold price upsideRandgold Resources Limited (‘Randgold’) shares in issue at 31 December 2015: 93.2 million.
3. Loulo-Gounkoto
mining complex
The Loulo-Gounkoto complex is located in the west of Mali near the border with
Senegal. Both the Loulo and Gounkoto mines are owned by Randgold (80%) and
the State of Mali (20%).
Key 2015 numbers
for the 12 months ended 31 December
Randgold’s flagship operation currently comprises the Loulo
underground mines, Yalea and Gara, and the Gounkoto open pit
mine.
Production from open pit operations
started at Loulo in 2005. This was
followed by the development of the
underground mines. Gounkoto, a
greenfields discovery in 2009, poured
its first gold in June 2011. The ore from
Gounkoto is processed by the Loulo plant
LIBERIA
GUINEA
CÔTE
D’IVOIRE
SENEGAL
MAURITANIA
BURKINA
FASO
700km
Loulo-Gounkoto gold complex
Randgold permits
Loulo
Gounkoto
MALI
Bamako
N
under a tolling agreement. Based on
current reserves, the complex has a
scheduled Life of Mine to 2028.
Loulo-Gounkoto is now firmly
established as a long life, high
production operation. It will be
reinforced by a new underground
mine at Gounkoto, scheduled to reach
full production in 2020. The complex
is targeting gold production of
670 000oz in 2016.
Equity ownership 80%
2015 production (100%) 630 167oz
Total cash costs ($/oz) 675
Profit from mining activity1
(100%) $298.4m
Safety certification OHSAS 18001
Environmental certification ISO 14001
Loulo mine
Total reserves2
(100%) 4.7Moz
Total resources measured
and indicated2 (100%) 7.1Moz
Total resources inferred2
(100%) 2.5Moz
Lost Time Injury Frequency
Rate
0.87
Gounkoto mine
Total reserves2
(100%) 3.1Moz
Total resources measured
and indicated2 (100%) 4.2Moz
Total resources inferred2
(100%) 0.5Moz
Lost Time Injury Frequency
Rate
0
1
Profit from mining activity is calculated by subtracting total cash costs from
gold sales, and is measured prior to depreciation, interest and corporate
tax charges.
2
At 31 December 2015.
Production and
forecast (000oz)
0
100
200
300
400
500
600
700
20162015
4. Morila gold mine
Morila is situated 280km south east of Bamako, the capital of Mali and is a joint
venture between Randgold (40%), AngloGold Ashanti (40%) and the State of
Mali (20%). Randgold has operated Morila since February 2008.
In 2009, Morila was converted to a
stockpile treatment operation. Closure of
the operation was originally scheduled for
2013 but a pit pushback, now complete,
the tailings treatment project and the
Domba project, could extend the life of
mine to 2019.
Morila produced 122 374oz of gold in
2015 and is forecasting 89 795oz in 2016.
Key 2015 numbers
Equity ownership (operated
by Randgold Resources) 40%
2015 production (100%) 122 374oz
Total cash costs ($/oz) 674
Profit from mining activity1
(100%) $60.5m
Total reserves2
(100%) 0.3Moz
Total resources measured
and indicated2
(100%) 0.4Moz
Total resources inferred2
(100%) 0.03Moz
Safety certification OHSAS 18001
Lost Time Injury Frequency
Rate 0
Environmental certification ISO 14001
1
Profit from mining activity is calculated by subtracting total cash costs from
gold sales, and is measured prior to depreciation, interest and corporate
tax charges.
2
At 31 December 2015.
for the 12 months ended 31 December
Work continues on the development
of a commercial agribusiness to utilise
the mine’s infrastructure and provide
sustainable economic activity in the
area after Morila’s eventual closure.
LIBERIA
GUINEA
CÔTE
D’IVOIRE
MAURITANIA
Bamako
MALI
BURKINA
FASO
SENEGAL
700km
Morila mine
Randgold permits
N
Morila was discovered, developed and financed by Randgold. The
mine was commissioned in October 2000 and since inception has
produced more than 6Moz of gold and paid more than $2 billion to
stakeholders.
Production and
forecast (000oz)
0
25
50
75
100
125
150
20162015
5. Tongon gold mine
The Tongon mine comprises two
open pit operations, the Southern and
Northern Zones, both of which have
potential for more reserves.
The mine currently has a six year Life
of Mine. In 2014 the geological model
for the Southern Zone pit was updated,
resulting in resource gains which
replaced the reserves mined during
the year. Tongon is targeting gold
production of 290 000oz in 2016.
The Tongon mine is located within the Nielle exploration permit in the north of
Côte d’lvoire, 55km south of the border with Mali. Randgold owns 89% of the
company, the State of Côte d’lvoire 10% and 1% is held by a local company.
Key 2015 numbers
Equity ownership 89%
2015 production (100%) 242 948
Total cash costs ($/oz) 836
Profit from mining activity1
(100%) $75.4m
Total reserves2
(100%) 2.0Moz
Total resources measured
and indicated2 (100%) 2.6Moz
Total resources inferred2
(100%) 1.1Moz
Safety certification OHSAS 18001
Lost Time Injury Frequency
Rate
0.82
Environmental certification ISO 14001
1
Profit from mining activity is calculated by subtracting total cash costs from
gold sales, and is measured prior to depreciation, interest and corporate
tax charges.
2
At 31 December 2015.
for the 12 months ended 31 December
Mining at Tongon began in April 2010 and gold production from the
open pit operation started in December 2010.
GHANA
BURKINA
FASO
MALI
GUINEA
LIBERIA
Abidjan
CÔTE D’IVOIRE
500km
Randgold permits
Tongon gold mine
N
Production and
forecast (000oz)
0
500
100
150
200
250
300
20162015
6. Equity ownership 45%
2015 production (100%) 642 720oz
Total cash costs ($/oz) 604
Profit from mining activity1
(100%) $358.2m
Total reserves2
(100%) 11Moz
Total resources measured
and indicated2
(100%) 16Moz
Total resources inferred2
(100%) 3.9Moz
Lost Time Injury Frequency
Rate 0.56
1
Profit from mining activity is calculated by subtracting total cash costs
from gold sales, and is measured prior to depreciation, interest and
corporate tax charges.
2
At 31 December 2015.
Kibali gold mine
The Kibali mine development in the DRC is the largest project
undertaken to date by Randgold. With a reserve base of 11Moz, it
ranks as one of the largest gold mines in Africa.
Key 2015 numbers
for the 12 months ended 31 December
The mine is operated by Randgold and
represents an investment of more than
$2.5 billion by the partners. Kibali is
targeting gold production of 610 000oz
in 2016.
Kibali comprises 10 permits covering an area of about 1 836km² in the
Moto goldfields of the north east DRC, some 560km north east of the city
of Kisangani and 150km west of the Ugandan border town of Arua. Kibali is
a joint venture between Randgold (45%), AngloGold Ashanti (45%) and the
Congolese parastatal SOKIMO (10%).
Production and
forecast (000oz)
Kibali comprises an integrated open
pit and underground operation as
well as a 7.2Mtpa processing plant.
The mine poured its first gold in Q4
2013 from open pit mining and is
currently developing the underground
mine via twin declines and a vertical
shaft, with the handover of the vertical
shaft scheduled in 2017. The project
will ultimately be supplied by four
hydropower stations supported by a
thermal power station for low rainfall
periods and as back-up.
900km
DEMOCRATIC
REPUBLIC
OF CONGO
CONGO
Kinshasa
CAMEROON
CENTRAL AFRICAN
REPUBLIC
SOUTH
SUDAN
TANZANIA
UGANDA
RWANDA
BURUNDI
ZAMBIA
ANGOLA
Kibali gold mine
Randgold permits
N
0
100
200
300
400
500
600
700
20162015
7. Mauritania
Senegal
Ghana
Mali
Burkina Faso
Niger
Sudan
Nigeria
Cameroon
Libya
Congo
Angola
Chad
Zambia
Uga
Central African
Republic
Democratic
Republic of
Congo
Tanza
South Africa
Egypt
Botswana
Zimbabwe
Côte
d’Ivoire
Namibia
Algeria
Massawa
feasibility
project
Exploration
Massawa is one of the largest undeveloped orebodies in Africa. A
grassroots exploration project in eastern Senegal, it was discovered in
2008.
Key 2015 numbers
Equity ownership 83%
Total reserves1
(100%) 2.0Moz
Total resources measured and indicated1
(100%) 3.0Moz
Total resources inferred1
(100%) 1.8Moz
1
At 31 December 2015.
Massawa lies 700km south east of the capital city of Dakar and 90km to the west of
Randgold’s Loulo and Gounkoto mines across the border in Mali. Randgold owns
83.25% of the project with a local company holding 6.75%. The State of Senegal
will have a non-contributory 10% share of any mine developed on the property.
Resource triangle
Randgold continues to maintain its focus on organic growth through discovery
and development of world class orebodies and has a pipeline of high quality
projects and exploration targets.
The initial prefeasibility study on the
open pit reserves was compiled in
2010. A feasibility study is currently
being progressed.
Exploration programmes are
currently underway in four countries:
Mali, Senegal, Côte d’Ivoire, and the
Democratic Republic of Congo, where
Randgold has groundholdings of
13 912km²* hosting 141 targets.
Exploration and infill drilling continues to upgrade the geological
confidence of the deposits near our mines, concentrating on
resource definition and the discovery of mineable satellite ounces.
for the 12 months ended 31 December
Proterozoic
Archean
* including joint ventures.
N
Dakar
SENEGAL
MAURITANIA
BURKINA
FASO
CÔTE
D’IVOIRE
MALI
600 km
Massawa gold project
Randgold permits
GUINEA
IDENTIFIED
ANOMALIES
IDENTIFIED
ANOMALIES
PRODUCTIONPRODUCTION
FEASIBILITY
Reserve/Resource
definition
FEASIBILITY
Reserve/Resource
definition
EXPLORATION
TARGETS
EXPLORATION
TARGETS
Identified targets
Identified targets
Follow-up targets
Follow-up targets
Advanced targets
Advanced targets
Inferred resources
Inferred resources
Indicated and
measured resources
Indicated and
measured resources
Reserve
definitionReserve
definition
Operating
minesOperating
mines
Côte d’Ivoire
Côte d’Ivoire
DRCDRC
Senegal
Senegal
M
ali
M
ali
8. Annual resource and reserve declaration
at 31 December 2015 (abridged)
COMPETENT PERSONS:
Yalea and Gara mineral resources were calculated by Mr Simon Bottoms, an officer of the company and Competent Person. Loulo 3, Baboto and
Gara West mineral resources from Loulo were calculated by Mr Mamadou Ly, an officer of the company and Competent Person, under the supervision
of Mr Simon Bottoms, an officer of the company and Competent Person. Gounkoto deposit mineral resources were calculated by Mr Sekou Diallo,
an officer of the company, under the supervision of Mr Simon Bottoms, an officer of the company and Competent Person. Faraba mineral resources
from Gounkoto were calculated by Mr Mamadou Ly, an officer of the company, under the supervision of Mr Simon Bottoms, an officer of the company
and Competent Person. Tongon mineral resources were calculated by Mr Simon Bottoms, an officer of the company and Competent Person. Kibali
mineral resources were calculated by Mr Ernest Doh, an officer of the company and Competent Person. Morila resources were calculated by Mr
Jonathan Kleynhans, an officer of the company and Competent Person. Mr Rodney Quick reviewed all mineral resources as lead Competent Person.
Mr Jonathan Kleynhans and Mr Rodney Quick are both Professional Natural Scientists and members of SACNASP. Mr Simon Bottoms is a Chartered
Geologist of the Geological Society of London and Mr Ernest Doh is a qualified geologist and member of AusIMM. All have sufficient experience in the
style of mineralisation and types of deposits under consideration and activity which they are undertaking as Competent Persons as defined in the 2012
addition in the ‘Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves’.
The Loulo, Tongon, Morila, Massawa and Gounkoto open pit ore reserves were calculated by Mr Shaun Gillespie, an officer of the company and
Competent Person and member of SAIMM. Kibali open pit ore reserves were calculated by Mr Nicholas Coomson, an officer of the company and
Competent Person and member of AusIMM. Loulo underground reserves were calculated by Mr Andrew Fox, an external consultant and Competent
Person and member of AusIMM. The Kibali and Gounkoto underground ore reserves were calculated by Mr Tim Peters, an external consultant and a
member of AusIMM. All Competent Persons have sufficient experience in the style of mineralisation and types of deposits under consideration and the
activity which they are undertaking as Competent Persons as defined in the 2012 addition in the ‘Australasian Code for Reporting Exploration Results,
Mineral Resources and Ore Reserves’.
Key numbers
$000 2015 2014
Gold sales1
1 394 889 1 434 873
Total cash costs1
822 673 791 756
Profit from mining activity1
572 216 643 117
Exploration and corporate expenditure 45 067 36 765
Profit for the period 212 775 271 160
Profit attributable to equity shareholders 188 677 234 974
Net cash generated from operations 396 982 317 618
Cash and cash equivalents2
213 372 82 752
Gold on hand at period end3
13 715 14 956
Group production (oz) 1 211 288 1 147 414
Group sales (oz) 1 210 844 1 134 941
Group total cash cost per ounce1
($) 679 698
Group cash operating cost per ounce1
($) 624 637
Basic earnings per share ($) 2.03 2.54
1
Randgold consolidates 100% of Loulo, Gounkoto and Tongon, 40% of Morila and 45% of Kibali in the consolidated non-GAAP measures.
2
Cash and cash equivalents excludes $16.9 million of cash at 31 December 2015 ($8.3 million at 31 December 2014) that relates to the group’s
attributable cash held in Morila, Kibali and the group’s asset leasing companies which are equity accounted.
3
Gold on hand represents gold in doré at the mines (attributable share) multiplied by the prevailing spot gold price at the end of the period.
www.randgoldresources.com
for the 12 months ended 31 December
Chief executive officer
Mark Bristow T +44 788 071 1386
Group corporate communications manager
Lois Wark T +44 20 7557 7745
lois.wark@randgold.com
Investor and media relations
Kathy du Plessis T +44 20 7557 7738
randgold@dpapr.com
Randgold Resources Limited
3rd Floor, Unity Chambers, 28 Halkett Street
St Helier, Jersey, je2 4wj, Channel Islands
T +44 1534 735 333, F +44 1534 735 444
dPA5997
Mine/
project Category
Tonnes Grade Gold
Attributable
Gold1
Mt g/t Moz Moz
Mineral resources
Kibali 45%
Measured and indicated 134 3.7 16 7.2
Inferred 47 2.5 3.9 1.7
Loulo 80%
Measured and indicated 51 4.4 7.1 5.7
Inferred 20 3.9 2.5 2.0
Gounkoto 80%
Measured and indicated 30 4.4 4.2 3.3
Inferred 5.3 3.1 0.5 0.4
Morila 40%
Measured and indicated 23 0.5 0.4 0.2
Inferred 1.8 0.6 0.03 0.01
Tongon 89%
Measured and indicated 30 2.6 2.6 2.3
Inferred 12 2.8 1.1 1.0
Massawa 83%
Indicated 35 2.6 3.0 2.5
Inferred 23 2.5 1.8 1.5
Total
resources
Measured and indicated 304 3.4 33 21
Inferred 110 2.8 10 6.7
Ore reserves
Kibali 45%
Proven and probable 80 4.1 11 4.8
Loulo 80%
Proven and probable 32 4.6 4.7 3.7
Gounkoto 80%
Proven and probable 20 4.8 3.1 2.5
Morila 40%
Proven and probable 15 0.6 0.3 0.1
Tongon 89%
Proven and probable 26 2.4 2.0 1.8
Massawa 83%
Probable 21 3.1 2.0 1.7
Total
reserves Proven and probable 194 3.6 23 15
1
Attributable gold (Moz) refers to the quantity attributable to Randgold based on its interest (holding) in each specific operation/project.
Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code and as such are reported to the
second significant digit. These are equivalent to National Instrument 43-101 and the reporting of ore reserves is also in accordance with SEC
Industry Guide 7. Open pit mineral resources consist of insitu mineral resources at a weighted average cut-off grade of 0.58g/t falling within a
$1 500/oz optimised pit shell. Underground mineral resources are those mineral resources falling below the open pit resources reported at a
weighted average cut-off of 1.66g/t. Open pit and underground ore reserves are economic at a gold price of $1 000/oz. Open pit reserves are
calculated at a weighted average cut-off grade of 1.05g/t. Our underground reserves are calculated at a weighted average cut-off grade of
2.51g/t. Our TSF reserves at Morila are calculated at a 0.49g/t cut-off. Dilution and ore loss are incorporated into the calculation of reserves.
Mineral resources are inclusive of ore reserves.
