Randgold Resources Announces 3rd Quarter Results

Randgold Resources (LON:RRS) reports that Q3 results posted show profit of US$28.2 million.

The press release is quoted as saying:

The profit from mining increase was due mainly to higher attributable production for the quarter of 101 468 ounces (Q2: 93 880 ounces), which was partly offset by an increase of 18% to US$73.6 million in total cash costs, largely a reflection of stockpile adjustments at Loulo. Successful remedial action on the Loulo plant increased its throughput by 16% and improved recovery from 91.4% to 94.8%, enabling Loulo to boost production from the second quarter’s 70 385 ounces to 78 198 ounces.

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