Randgold Resources reported earnings of US$0.45/share in Q3 15, against EPS of US$0.63 in the corresponding quarter of 2014, despite record gold production of 305 koz. Attributable income fell 10% as the gold price received fell from US$1,277/oz to US$1,122/oz. Cash costs were marginally higher at US$699/oz.
For the first nine months of 2015, the company produced 885 koz of gold (9m 2014: 850 koz) at a cash cost of US$697/oz, in line with the previous year. Attributable income was US$817 million, a decline of 10%, resulting in EPS of US$1.55, down from US$2.00 in 2014.
In Q3, Gounkoto reported a 25% increase in gold production year-on-year on higher mill throughput, but Loulo, part of the same mining complex, saw production decline from 105 koz to 93 koz as both tonnes milled and grade deceased. Heavy rains in Mali resulted in a pump system failure at Loulo, which temporarily cut off access to the high grade ore sections underground at Yalea. Gold production at Kibali grew from 145 koz in Q3 14 to 160 koz in Q3 15.
Cash at the end of Q3 increased to US$168 million from US$63 million a year earlier.
Earnings fall for Randgold despite record quarterly production: RRS