Randgold CEO Sees Opportunity in Tough Gold Market

In an interview with Bloomberg, Mark Bristow, CEO of Randgold Resources Ltd. (LSE:RRS,NASDAQ:GOLD), said that he sees the current poor gold market as an opportunity.

As quoted in the market news:

Randgold, the best performing gold miner in the past decade, is debt free and profitable at current gold prices, said Bristow, who has a war chest of $500 million to $700 million to acquire assets from floundering rivals.

‘We have facilities already in place,’ he said. ‘If you look at our history, we have never gone to a gun fight with a knife. We’re getting ready and we’ll go to the gunfight with a bazooka.’

Bristow also commented:

This is an exciting time. The industry blows it’s brains out every time. The reason we’re still in the industry is because the competition isn’t that sharp.

Click here to read the full Bloomberg report.