Randgold: Senegal Massawa Project Inferred Resources At 3.39 Million Oz
April 02 2009 - 6:10AM
Dow Jones News
London-listed miner Randgold Resources Ltd. (GOLD) Thursday said
its Massawa project in Senegal contained a 3.39 million troy ounce
inferred resource, the first time the company has released a figure
for one of its major potential developments.
Randgold, incorporated in Jersey, is scheduled to end mining at
its 40%-owned Morila mine in Mali this year, leaving future growth
dependent on development of exploration projects like Massawa.
Randgold also is expanding an underground mining project at
another mine in Mali, and building its Tongon project in Ivory
Coast.
"The continuing growth in the company's reserves and resources
provides a solid foundation to beat our forecast of a 50% growth in
production by 2011 and beyond," Chief Executive Mark Bristow said
in a statement.
Company Web site: http://www.randgoldresources.com
-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347;
jeffrey.sparshott@dowjones.com