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Randgold Resources' CEO Discusses Q3 2011 Results - Earnings Call Transcript

Randgold Resources Limited (GOLD)

Q3 2011 Earnings Call

November 2, 2011 8:00 AM ET


Mark Bristow – CEO


Jason Fairclough – Bank of America/Merrill Lynch

Cailey Barker – Numis

Andrew Lu – Barclays Capital

Charles Cooper – Oriel Securities


Mark Bristow

Before I kick off, just a special welcome to our latest addition to our board, Andy Quinn who’s here today. I’m sure everyone in the audience knows Andy from CIBC. And he joined us as a Non-Executive Director yesterday and Andy welcome, glad to see that you made it to your first appointment.

As you know, we’re constantly looking at making sure that we are keeping in line with changing situations and refresh our board and meet all the corporate governances that we require. And on top of being a banker, Andy comes with us a very deep mining knowledge and experience. And we’re delighted to have him join us.

Moving then on to the quarter three 2011. Past quarter was a tough one and I think I actually said that last quarter as well, that it was also a time when once again we produced a strong all around performance in operations developments and the exploration. And it’s always nice to grow into a rising gold price and that helps, and so bottom-line profits were satisfying to say the least. I think one of the interviews I had this morning, the interviewer pointed out to me that we had beat the market expectations and profits, but disappointed on cost.

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