MOE Moto Goldmines

 

TIDMRRS TIDMMOE 
 
RNS Number : 8813A 
Randgold Resources Ld 
15 October 2009 
 
RANDGOLD RESOURCES LIMITED 
Incorporated in Jersey, Channel Islands 
 Reg. 
No. 62686 
 LSE Trading Symbol: RRS 
 Nasdaq Trading Symbol: GOLD 
 
 
 
 
RANDGOLD TO MOVE QUICKLY ON ADVANCING MOTO PROJECT 
 
 
London, 15 October 2009-  Randgold Resources plans to  move swiftly towards a 
bankable feasibility study on the Moto gold project following the completion 
today of its business combination transaction with Moto Goldmines Limited, chief 
executive Mark Bristow said. 
 
 
Moto shareholders earlier voted in favour of the deal in terms of which they 
will exchange their Moto shares for Randgold shares or cash.  Simultaneously, 
AngloGold Ashanti has acquired a 50% indirect interest in Moto for cash and 
Randgold and AngloGold will be jointly responsible for developing the Moto 
project, which will be operated by Randgold.  Moto owns a 70% stake in the Moto 
Gold project.The government of the Democratic Republic of Congo, through OKIMO, 
holds the remaining 30% interest in the project, which is Moto's principal 
asset. 
 
 
The Moto gold project is one of the largest undeveloped gold deposits in Africa. 
 A feasibility study completed by Moto in March 2009 envisages an open pit and 
underground mining operation with probable mineral reserves of 5.5 million 
ounces which is planned to produce some 2.4 million ounces of gold in its first 
five years. 
 
 
"The Moto deal essentially represents the acquisition of an opportunity to 
convert a very big if technically challenging gold deposit into a profitable 
mine," Bristow said.  "This is in line with our growth strategy of creating 
value by developing discoveries rather than paying a premium for established 
operations.  It marks our expansion into a new and exciting gold belt, while 
retaining our African focus." 
 
 
Bristow noted that the Randgold capital projects team which would be responsible 
for Moto was the same one which had successfully developed the Morila and Loulo 
mines in Mali and was currently building the Tongon mine in Côte d'Ivoire. 
Randgold's proven ability to find, finance, develop and operate mines in Africa 
would be enhanced at Moto by AngloGold's own considerable resources and 
expertise, he said. The two companies already have a joint venture at Morila. 
 
 
 
 
ENQUIRIES 
+-------------------------+------------------------+----------------------------------+ 
| Chief Executive         | Financial Director     | Investor & Media Relations       | 
| Dr Mark Bristow         | Graham Shuttleworth    | Kathy du Plessis                 | 
| +44 788 071 1386        | +44 1534 735 333       | +44 20 7557 7738                 | 
| +44 779 775 2288        | +44 779 614 4438       | Email:                           | 
|                         |                        | randgoldresources@dpapr.com      | 
+-------------------------+------------------------+----------------------------------+ 
Website: www.randgoldresources.com 
 
 
 
 
ABOUT RANDGOLD 
Randgold is a gold mining and exploration company with its principal activities 
focused on West and East Africa and stated proven and probable reserves of 8.82 
Moz as at 31 December 2008 for Loulo, Tongon and Massawa and 30 April 2009 for 
Morila. In Mali, Randgold has an 80% controlling interest in the Loulo mine, 
which is currently mining from two open pits and has just commenced mining from 
one underground mine whilst developing a second underground mine. In the Loulo 
region, Gounkoto, on the Loulo permit, is shaping up as a significant new 
discovery. Also in Mali, Randgold owns a 40% interest in the Morila joint 
venture, the owner of the Morila mine, which it also operates. In Côte d'Ivoire, 
Randgold owns an effective 84% controlling interest in the Tongon development 
project, where it has commenced construction and expects to be in production 
towards the end of 2010. In Senegal, Randgold has a new discovery, Massawa, 
which is at prefeasibility stage and which it believes has multi million ounce 
potential and the makings of a world-class orebody. Randgold also has 
exploration permits and licenses covering substantial areas in Mali, Côte 
d'Ivoire, Burkina Faso, Ghana, Senegal and Tanzania. 
 
 
ABOUT MOTO 
Moto Goldmines Limited is a gold exploration and development company which owns 
a 70% stake in the Moto Gold project in the north-east of the Democratic 
Republic of Congo and has advanced the project from exploration through to 
feasibility. The project is a joint venture between L'Office des Mines d'or de 
Kilo-Moto ('OKIMO') and Moto and covers an area of approximately 1 836 km² with 
significant mineral resources and growth potential. 
 
 
DISCLAIMER: Statements made in this document with respect to Randgold Resources' 
current plans, estimates, strategies and beliefs and other statements that are 
not historical facts are forward-looking statements about the future performance 
of Randgold Resources. These statements are based on management's assumptions 
and beliefs in light of the information currently available to it. Randgold 
Resources cautions you that a number of important risks and uncertainties could 
cause actual results to differ materially from those discussed in the 
forward-looking statements, and therefore you should not place undue reliance on 
them. The potential risks and uncertainties include, among others, risks 
associated with: fluctuations in the market price of gold, gold production at 
Morila and Loulo, the development of Loulo and Tongon and estimates of 
resources, reserves and mine life. For a discussion on such risk factors refer 
to the annual report on Form 20-F for the year ended 31 December 2008 which was 
filed with the United States Securities and Exchange Commission (the 'SEC') on 
15 May 2009 and other filings made with the SEC. Randgold Resources sees no 
obligation to update information in this release. 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 
release, 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. 
 
 
 
 
RANDGOLD QUALIFIED PERSONS 
The mineral reserve estimate related to the Loulo Gold Mine was reviewed and 
approved by Herbert Gerald Waldeck and Mark David Wanless of SRK Consulting 
(South Africa) (Pty) Ltd ('SRK'), (each a Qualified Person under National 
Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian 
Securities Administrators ('NI 43-101')) and documented in the Technical Report 
on the Loulo Gold Mine, Randgold Resources, Mali, dated 3 September 2009. The 
mineral reserve estimate related to the Tongon project was reviewed and approved 
by Mark David Wanless and Herbert Gerald Waldeck of SRK and documented in the 
Technical Report on the Tongon Development Project, Ivory Coast, dated 10 
September 2009. The mineral resource estimate related to the Massawa Project was 
reviewed and approved by Mark David Wanless of SRK and documented in the 
Technical Report on the Massawa Project, Senegal, dated 3 September 2009. The 
mineral reserve estimate related to the Morila Gold Mine was reviewed and 
approved by Shaun Wayne Crisp (a Qualified Person under NI 43-101) and Herbert 
Gerald Waldeck of SRK and documented in the Technical Report on the Morila Gold 
Mine, Randgold Resources, Mali, dated 3 September 2009. Each of these reports is 
available under Moto's profile on the SEDAR website at www.sedar.com 
 
 
MOTO QUALIFIED PERSONS 
The mineral reserve and gold production estimates related to the Moto gold 
project included in this release were reviewed and approved by Quinton de Klerk, 
a director of Cube Consulting Pty Ltd, Paul Kerr, a senior consultant 
(underground mining) employed by SRK Consulting Pty Ltd and Fred Kock, a lead 
metallurgist of Orway Mineral Consultants (WA) Pty Ltd (each a Qualified Person 
under National Instrument 43-101 - Standards of Disclosure for Mineral Projects 
of the Canadian Securities Administrators ('NI 43-101')) and documented in the 
Amended and Restated Technical Report, Moto Gold Project, Democratic Republic of 
Congo, dated 20 April 2009. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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