- Randgold Resources (NYSE:GOLD) -1.1% premarket after reporting Q2 earnings of $0.57/share, helped by higher gold sales and lower costs.
- Q2 gold production of 277,283 oz. was down 2% from Q1's record output but 41% higher than the same quarter last year.
- Cost per oz. was US$701, up 2% Q/Q but down 12% Y/Y; profit from mining of $162.3M fell 5% Q/Q but rose 54% Y/Y.
- Says the Loulo-Gounkoto complex produced ~174K oz., up 3% Q/Q and the third quarter in a row of record production numbers.
- However, production at the Kibali mine in Congo fell 19% Q/Q to 91,137 oz., as the miner was forced to process harder ore pending the installation of new equipment; GOLD says Kibali remains on track to meet its full-year target of 550K oz.