Material increase for GOLD

Recently acquired Kibali gold project in the Democratic Republic of the Congo is in need of an increase of material.  Randgold Resources Limited said, following an update of the presented estimates by Cube Consulting Pty Ltd (Cube), the indicated mineral resource was now 13.93 Moz which represents an increase of 23% over the previous indicated mineral resource of 11.29 Moz.

Chief executive Mark Bristow said the mineral resource update had underlined the high quality of the Kibali orebody and was a step forward in Randgold's review of the project following the completion of the Moto Goldmines acquisition in October.  "We're now working on a review of the geological model and expect to continue to update resources and re-estimate reserves as we obtain new results from our ongoing drill programmes and progress our understanding of the geological controls on mineralisation. This will, along with results from additional technical and process reviews contribute to the ongoing optimisation of the feasibility study completed by Moto," he said.

Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Stock Newsletter

Randgold Resources Ltd. is engaged in gold mining, exploration and related activities. Its activities are focused on West and East Africa. In Mali, it has an 80% controlling interest in the Loulo mine through Societe des Mines de Loulo S.A. The Loulo mine is mining from two open pits and one underground mine, and is developing a further underground mine. The Company also owns 50% of Morila Limited, which in turn owns 80% of Morila SA, the owner of the Morila mine in Mali. In addition, it owns an effective 84% controlling interest in the development-stage Tongon project located in Cote d’Ivoire. It owns an effective 83% controlling interest in the Massawa project in Senegal. It also has exploration permits and licenses covering substantial areas in Mali, Cote d’Ivoire, Burkina Faso, Ghana, Senegal and Tanzania. In October 2009, Randgold Resources Limited and AngloGold Ashanti Limited, through their indirect jointly owned subsidiary, 0858065 BC Ltd., acquired Moto Goldmines Limited.

Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website

About Best Damn Penny Stocks

Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.

Please click here to read the full disclaimer