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Tuesday, 29th March 2005 (4508 views)

Randgold Resources is predicting strong organic growth this year, boosted by a new mine and the continuous need for substantial deposits.<br/><br/>The company's new mine in Loulo is set to go into production, pouring its first gold in July.<br/><br/>It is thought 100,000 ounces of gold will be contributed by the mine and more than 600,000 ounces would be produced at existing joint venture project Morila.<br/><br/>Chief executive, Dr Mark Bristow, said: "Our priority for 2005 is to bring the Loulo mine into production as planned. <br/><br/>"At the same time, we are continuing to expand the resource there through deep drilling, and we are progressing the economic study to the point where we can make a thoroughly informed decision about the development of an underground operation to extend the open-pit mine currently being completed."<br/><br/>The company is also planning a strong exploration programme since their records indicated the best way to create value "is through discovery".<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8145272"/>

 

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