Mark Bristow, CEO of Randgold Resources Limited (GOLD), said the company is on track for record production in three successive quarters from its Loulo-Gounkoto complex in Mali. He was speaking at the Denver Gold Forum in Denver, Colorado.
Gold production at the Loulo-Gounkoto complex in Mali is driven by underground mines developed at Yalea and Gara, Bristow said. A pastefill plant was completed at Yalea, while a pastefill at Gara is scheduled for commissioning in Q3. Randgold financed and built the Loulo operation, which started as two open pit mines in November, 2005.
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Randgold is an African-focused gold mining and exploration company with listings on the London Stock Exchange and NASDAQ. It controls West Africa’s most productive gold belt in Senegal and Mali, the Senegal Malian Shear, Bristow said. He pointed to several ongoing successful ventures there, including the Legend JV, the Loulo Permit, the Gounkoto Permit, and the Bakolobi JV.
To date, the company has developed a 7.5Moz Morila deposit in southern Mali; a 7Moz Yalea deposit and the 5.5Moz Gounkoto deposit in western Mali; the 4Moz Tongon deposit in the Côte d’Ivoire; the 3Moz Massawa deposit in eastern Senegal.
Bristow also talked about the company’s explorations at Massawa, where geologic remodeling is being used to point to new options; new targets and new permits in Cote d’Ivoire; and resource conversion programs at Loulo, Gounkoto and Kibali. Three exploration joint ventures have expanded the company’s footprint in its target areas.
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