Randgold Resources Ld Tongon back in business after lock-out lifted (8348Z)
05 September 2018 - 6:13PM
UK Regulatory
TIDMRRS
RNS Number : 8348Z
Randgold Resources Ld
05 September 2018
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
TONGON BACK IN BUSINESS AFTER LOCK-OUT LIFTED
Tongon, Côte d'Ivoire, 5 September 2018 - Operations at Randgold
Resources' Tongon gold mine returned to normal today after
management lifted the lock-out imposed on workers after a
protracted illegal strike.
Negotiations between management, workers, community leaders and
the government created an agreement under which workers are being
re-employed in phases aligned to the start-up of the mine's various
sections. The agreement also stipulates that the previous
discussions, aimed at finally ending the occasional industrial
unrest at the mine, should be resumed where they were interrupted
by the strike in July.
During the lock-out period, management, senior employees and a
skeleton crew prepared Tongon for resumed production by servicing
the processing facilities, including relining the mills, as well as
maintaining the tailings storage facility and access to the two
open cast operations.
The mine is now fully operational and the phased return of the
full employee complement is expected to be complete by the weekend,
but the work stoppage has necessitated a revision of its previous
production guidance for the year which is now estimated at 230 000
ounces of gold.
Randgold chief executive Mark Bristow said that the company
remained a committed partner to Côte d'Ivoire, and thanked everyone
involved in the various engagements to get the mine back to full
operation. He said that despite the setbacks at Tongon, the overall
group production outlook remained within the guidance given at the
start of the year albeit towards the lower end of the range. This
is supported by Loulo-Gounkoto remaining on target and the
continued outperformance at Kibali.
ENQUIRIES:
Chief Executive Financial Director Group Regional Manager Investor & Media Relations
Mark Bristow Graham Shuttleworth West Africa Kathy du Plessis
+44 788 071 1386 +44 779 771 1338 Mahamadou Samaké +44 20 7557 7738
+223 66 75 01 22 +223 66 75 61 36 randgold@dpapr.com
Website: www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for
the historical information contained herein, the matters discussed
in this news release are forward-looking statements within the
meaning of Section 27A of the US Securities Act of 1933 and Section
21E of the US Securities Exchange Act of 1934, and applicable
Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold, the estimation of mineral reserves and
resources, the realisation of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
reserve determination and reserve conversion rates. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as 'will', 'plans', 'expects' or
'does not expect', 'is expected', 'budget', 'scheduled',
'estimates', 'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases
or state that certain actions, events or results 'may', 'could',
'would', 'might' or 'will be taken', 'occur' or 'be achieved'.
Assumptions upon which such forward-looking statements are based
are in turn based on factors and events that are not within the
control of Randgold Resources Limited ('Randgold') and there is no
assurance they will prove to be correct. Forward-looking statements
are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of Randgold to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to mining operations,
including political risks and instability and risks related to
international operations, actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, as well as those
factors discussed in Randgold's filings with the US Securities and
Exchange Commission (the 'SEC'). Although Randgold has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Randgold does not undertake
to update any forward-looking statements herein, except in
accordance with applicable securities laws. CAUTIONARY NOTE TO US
INVESTORS: The SEC permits companies, in their filings with the
SEC, to disclose only proven and probable ore reserves. We use
certain terms in this report, such as 'resources', that the SEC
does not recognise and strictly prohibits us from including in our
filings with the SEC. Investors are cautioned not to assume that
all or any parts of our resources will ever be converted into
reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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