Financial Overview

Since Randgold paid its first dividend in respect of the 2006 financial year, the company has paid a progressive dividend, with dividends increasing by 1 900% over this period, notwithstanding the fluctuations in the gold price.

Gold sales for the year ended 31 December 2017 of $1.65 billion, including the attributable share of equity accounted joint ventures, were up 7% from the previous year principally as a result of the 6% increase in the number of ounces of gold sold across the group as well as a marginal increase in average gold price received of $1 258/oz (2016: $1 244/oz). Total cash costs for the year of $815.3 million (2016: $794.4 million) increased by 3% on the prior year, driven by higher throughput and slightly higher unit costs at Kibali. Group total cash cost per ounce dropped 3% to $620/oz for the year (2016: $639/oz), reflecting the 6% increase in ounces sold year on year offset by the 3% increase in total cash costs.

 

Graham Shuttleworth