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Gold/Mining/Energy : RANDGOLD and EXPLORATION (RANGY)

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To: POLARBEAR who wrote (229)	1/28/1999 5:00:00 AM
From: John Hunt	Read Replies (1) of 448

Randgold - Why Morila Is Being Called The Gorilla << Randgold's new bag in Mali on its West African safari Randgold's London-listed African mining arm Randgold Resources (RRL) last week officially opened its Syama gold mine in Mali and showed off its next project - the rich Morila deposit. All going to plan these two developments should transform RRL, which has led a hand-to-mouth existence. The Syama plant is not running at optimum levels but has shown a steady improvement in production volumes and cost control over the past year. But it's the Morila deposit - acquired from BHP Mali at the same time as Syama - that promises to transform RRL financial fortunes. This is a shallow, rich ore body that RRL executives have dubbed; "Morila the Gorilla" because it should produce an average of 200000oz of gold annually at an average cash cost of just US$117/oz over an initial nine-year life. -- cont'd -- >> fm.co.za

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