The million ounce march

Randgold increased its total attributable reserves by almost 1 million ounces despite depletion from mining in 2014

Operations and exploration

Kibali successfully completed its first full year of production and the Loulo-Gounkoto complex ramped up all of its operations to their full design parameters. We identified our next underground mine and in the process added almost a million ounces to our reserves.

Resources and reserves

Randgold increased its total attributable reserves by almost 1 million ounces despite depletion from mining in 2014.

Sustainability report

Leaving a legacy - We know that our mines have a limited lifespan but we want to ensure that the benefits of mining this national resource are felt by our host communities for generations to come.

Directors' reports

To be a successful world class gold mining company it must be led by an effective board, with appropriate skills, experience, independence and knowledge of the activities of the company and its industry and environment.

Financial statements

Our strong emphasis on driving costs down in each operation and at every level is being maintained.

Shareholders’ information

That Randgold has been able to prosper in such a difficult climate is further demonstration of the value of our bedrock strategies and creeds. Our focus is fixed not on the next quarter but on the far horizon.

Chief Executive's Overview

The past year was one in which Randgold progressed past a number of major milestones, most notably the million-ounce production mark. In a ddition, 2014 was our 5th year of record production growth and the 8th in which the board was able to maintain its progressive dividend policy.

Forecast an Actual Group Consolidated Production

Randgold consolidates 100% of Loulo, Gounkoto and Tongon, 40% of Morila and 45% of Kibali in the consolidated non-GAAP measures.

Our key numbers

$000	2014	2013
Gold sales¹	1 434 873	1 266 712
Total cash costs¹	791 756	657 951
Profit form mining activity¹	643 117	608 761
Exploration and corporate expenditure	36 765	49 485
Profit for the period	271 160	325 747
Profit attributable to equity shareholders	234 974	278 382
Net cash generated from operations	317 618	464 466
Cash and cash equivalents²	82 752	38 151
Gold on hand at period end³	14 956	-
Group production (oz)	1 147 414	910 374
Group sales¹ (oz)	1 134 941	920 248
Group total cash cost per ounce¹ ($)	698	715
Group cash operating cost per ounce¹ ($)	637	645
Basic earnings per share ($)	2.54	3.02

^{1 Refer to explanation of non-GAAP measures provided on page 241 of this}

^{annual report. Randgold consolidates 100% of Loulo, Gounkoto and Tongon,}

^{40% of Morila and 45% of Kibali in the consolidated non-GAAP measures.}

^{2 Cash and cash equivalents excludes $8.3 million at 31 December 2014}

^{($6.1 million at 31 December 2013) relating to the group’s attributable cash}

^{held in Morila, Kibali and the group’s asset leasing companies which are}

^{equity accounted.}

^{3 Gold on hand represents gold in doré at the mines (attributable share)}

^{multiplied by the prevailing spot gold price at the end of the period.}

Our guidance

Group Consolidated Production*

1.20 Moz - 1.26 Moz
Total Cash Cost of Production

$650/oz - $700/oz
Capital Expenditure*

$330 million

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Five year KPI's