Randgold shares slip in spite of new action plan at Tongon mine

AN ANNOUNCEMENT by Randgold Resources stating that its Tongon mine in Cote d’Ivoire has finally turned a corner after experiencing technical difficulties failed to stop a decline in its share price yesterday.

Shares fell by 1.67 per cent despite chief executive Mark Bristow claiming that the mill throughput and recovery rate, the main challenges faced by the mine, were being turned around by a determined effort on the part of the Tongon management team. He commented: “By early next year Tongon should have achieved its targeted performance levels, but the improvement is already evident.”

Bristow added that Randgold was working closely with the Ivorian ministry of health and local authorities to ward off the potential threat posed by Ebola.

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