Randgold Resources (
NASDAQ: GOLD,
Stock Forum) aims to exceed one million ounces of consolidated gold production in 2014 and is closing in on its long term goal of 1.2 million ounces by 2015, chief executive Mark Bristow said in the company’s 2013 annual report.
In 2013, Randgold increased production by 15% to 910,374 ounces at a reduced cash cost of US$715 per ounce,
the company said in press release.
Production growth is expected to be driven by rising grades at the flagship Loulo-Gounkoto complex in Mali, improved throughput at Tongon in Cote d’Ivoire, and a first full year of contribution from the recently commissioned Kibali in Democratic Republic of Congo.
Randgold shares rose 0.84% to $75.93, leaving a market cap of $7 billion, based on 92.3 million shares outstanding. The 52-week range is $86.66 and $59.19.