Randgold Resources increased its gold production by 26% in 2014 while reducing its total cash costs by 2%. Profit decreased by 17% to $271 Million but the board of directors proposed a 20% increase in its dividend.
Mark Bristow, Randgold’s CEO, continues to drop hints that an acquisition may be coming.
Our long standing goal of reaching an annual production of 1.2m oz in 2015 is now comfortably within reach, and we are already looking beyond that to our next big step forward. We remain strongly committed to exploration and our geologists continue to scour the gold fields of West and Central Africa for multi-million-ounce deposits.
The current stress in the gold mining industry is also generating what may well prove to be transformational growth opportunities and we are closely monitoring this situation.
In a Bloomberg piece a few days ago, Bristow remarked:
“Everyone would like to sell assets that they don’t want…We want assets they don’t want to sell. It’s going to come as a surprise to the market as people realize they have to do it. There’s going to be a tipping point.”
The piece noted that Bristow prefers to buy a mine rather than a company.