Randgold Increases Attributable Resources; Reserves Fall

Randgold Resources Ltd. (LSE:RRS) announced that its attributable resources have risen 5 percent, to 28.6 million ounces, while its reserves have fallen 8 percent, to 15 million ounces.

As quoted in the press release:

Randgold reserve and resource management executive Rod Quick said all the group’s mines were ramping up both production and grade, which inevitably impacted on its reserve inventory.

‘We are confident, however, that we can replenish our reserves through ongoing exploration as well as resource conversion’ he said. ‘This confidence is based on the robustness of our current five year plan as well as the prospectivity of the regions where we operate, as demonstrated by our growing resources.’

Click here to read the full Randgold Resources Ltd. (LSE:RRS) press release.