a world class business by any measure our flagship loulo-gounkoto complex continues …€¦ ·...

A world class business by any

measure…

our flagship Loulo-Gounkoto

complex continues to deliver

Mali

Côted’Ivoire

Senegal

Democratic Republic of Congo

Massawa Feasibility

Project, Senegal

Equity 83%

Total Reserves 2.0Moz

Total Resources 4.7Moz

Loulo-Gounkoto Mine

Complex, Mali

Equity 80%

Loulo:

Total reserves 4.9Moz

Total resources 9.2Moz

Gounkoto:



Loulo-Gounkoto

2014 production 639 219oz

Morila Gold Mine

Mali

Equity 40%




Kibali Gold Mine

DRC

Equity 45%

Total reserves 11Moz



Reserves and resources as at 31 Dec 2014

Tongon Gold Mine

Côte d’Ivoire

Equity 89%




Overview…

Fiscal parameters summary…

Royalty on gold sales

6% 6%

Corporate tax rate

30% 30%

Corporate taxMinimum

0.75%of revenue

0.75%of revenue

Corporate taxHoliday

5 years2000-2005

from first production

2 years 2011-2013

can extend on further investment

from first production

Import dutyholiday

3 yearsFuel and lubricants exempted for LOM

3 yearsFuel and lubricants exempted for LOM

Dividend withholding tax

none none

State participation

20%State participation

Not free

20% financed by RRL

10% preferreddividend

Tax stabilisation

Indefinitevalidity of convention

Indefinitevalidity of convention

PARAMETERS LOULO GOUNKOTO

Discovery and development of… Loulo-Gounkoto Complex

1996BHP Mali acquired

Gara resource – 659koz

Yalea discoveryresource -

2003Updated feasibility studyTotal reserve 1.28Moz

2004Construction begins

on Loulo mine

2005Loulo mine

opening

Loulo UG feasibility approved

2014

2005

Loulo UG development starts

2006

Yalea UG first gold

2008

Gounkoto discoveryresource -

2009Gounkoto incorporated as separate

company

2010

Gounkoto first gold from open pit

2011

GounkotoFirst dividend paid

to shareholders

2012Gounkoto

UG feasibilitycommences

Production exceeds

600 000oz

Gara UG first gold

2011

1997

2014Loulo plant expansion

2015

Loulo UG change to

owner miner

Loulo-Gounkoto...organogram

GM Complex

Tahirou Ballo

Financial& AdminDaoudaDembele

HumanResources

Samba Diallo

Health &Safety

Dr MamaKanta

Security

HarryJooste

ProcessingAbdoulaye

Kone

Engineer-ing

AbbasCoulibaly

MineralResourcesOusmane

Traore

Environment/Community

Hilaire BDiarra

UG Mining

MahamadounCisse

Open pitMiningModibo Traore

SupplyChain

Zoumana Gakou

COO – West Africa

Chiaka Berthe

Safety and health…

Loulo-Gounkoto…safety, health and environment

Fresh water/ore

milled m3/tonne

m3

Malaria incidence

rate

LTIFR

0

0.5

1

1.5

2

2011 2012 2013 2014 2015

0

0.5

1

1.5

2

2011 2012 2013 2014 2015

0

1

2

3

2011 2012 2013 2014 YTD2015

0

1

2

3

2011 2012 2013 2014 YTD2015

0

20

40

60

80

2011 2012 2013 2014 YTD2015

0

20

40

60

80

2011 2012 2013 2014 YTD2015

Proactive management of health and safety risks

Workshop held with PNLP and Partners for eradicating malaria

No major environmental incidents reported

Agribusiness school launched

CN Management code compliance at 87%

Both operations are certified OHSAS 18001: 2007 and ISO 14001:2004

Improved natural resources management – BAP implemented at 85%

Ebola outbreak addressed through an integrated prevention programme

Loulo Gounkoto

Mineral resources…

Yalea deposit…

<0.7 g/t

0.7 - 3.0 g/t

3.0 - 4.0 g/t

4.0 - 8.0 g/t

> 8.0 g/t

Planned drilling

2.7km

90

0m

2003 2014

Reserves…..2.9Moz @ 5.82g/t

Resources…5.4Moz @ 4.97g/t

NN

Previously drilled intercepts

Planned drilling

Gara deposit…

1.8km

75

0m

2003

<0.5 g/t

0.5 - 3.0 g/t

3.0 - 5.0 g/t

5.0 - 8.0 g/t

> 8.0 g/t

2014

Reserves…..1.5Moz @ 4.15g/t

Resources…2.65Moz @ 3.80g/t

NN

Gounkoto deposit…

High grade open at depth,

new targets down

plunge of controlling structures

P64

Open

MZ4

MZ3

extension

open

GKDH43225.55m @ 0.75g/t

P64GCRC140

33m @ 6.61 g/t

P64MZ3

MZ1

MZ2

Gold g/t

>8g/t

5–8g/t

3–5g/t

1–3g/t

0.5-1g/t

Reserves….. 2.93Moz @ 4.79g/t

Resources… 4.2Moz @ 4.3g/t

P64GCRC031

59m @ 4.05 g/t

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Gounkoto UG Feasibility Completed:

Updated UG mine design

Reserve: 1.07Moz @ 7.20g/t

Resource: 1.95Moz @ 5.73g/t

Potentially starting decline in 2018 and then full production when pit completes in 2020

Extends Loulo-Gounkotoplan to achieve close to 600koz for 10 years

Low capital design

Decline from pit

CAF plant on surface

No underground crushing

Vent raises to hole into the pit

Gounkoto…super pit option study

UG

Infrastructure

MZ2 MZ3

2.85 to 4.02 (FOG, MG)

Legend Assay

Grade (Au in g/t)

1.36 to 2.85 (MO)

>= 8 (FGO, VHG)4.02 to 8 (FGO, HG)

< 0.9 (Waste)0.9 to 1.36 (MW)

Propose DDH Priority1

Propose DDH Priority2, edge effect reduction

Propose AGC Priority1

Indicated Surface

Current Pit 11Dec152016 LOM Pit$1000/oz Super Pit

N

445Kt @ 3.56g/t of inferred resources to be converted into indicated

Underground mining…

Successful owner mining transition with world class underground mining standards…

Refrigeration Plant Construction Site New Sandvik Loader

Equipment Simulator Exhaust Primary Ventilation Fan

0

50

100

150

200

250

Oct-15 Nov-15 Dec-15

Gara UG Yalea UG

Loulo UG mining shows a steady improvementfrom transition period to full owner mining…

Yalea and Gara achieved production in Q4 2015

Ore

Tonnes

min

ed

k T

onnes

Contractor miner - last month

Transition period

Full owner mining

Loulo…mining

A combination of

transverse and

longitudinal longhole

stoping mining method

is used at Yalea, and

longitudinal longhole

stoping at Gara

2.1

2.2

2.3

2.4

2.5

2.6

2.7

Yalea Gara

Tonnes million

Developed reserves

Exhaust raise down

to 135L currently

under developmentChilled air

raise to 260L

Intake raise

from the pit

Vehicle decline and

conveyor decline act

as intakes

Central decline

and access to

the north act as

intakes

Secondary

egresses

including link

drives

Chilled air raise on

260L split to

service south and

central decline

Exhaust

raises

connected

level to

level

Exhaust raises

connected level to

level

Secondary vent raises N

and S to be

incorporated in both

declines below mined

out area after approval

Gara…life of mine ventilation system

Proposed chilled

air intake yet to be

mined to 233LExisting exhaust

raise North to

208L

Existing exhaust

raise South to

208L

Proposed exhaust

raise for the South

upper a lower

Twin exhausts for

the south upper

Exhaust

for south

lower

Chilled air

intake to the

south

Intake to south

upper on 108L

Link drive taking

chilled air to south

lower from central

decline

Air from chilled air

intake split to North,

Central and South

declines respectively

All declines act as

intakes

Exhaust raises

Secondary

Egresses

including link

drives Intake chilled

air raise bore

to the south

Drive parallel to

drive under the

dyke to be used as

exhaust

Parallel drive to be

used as intake to

further south decline

Yalea life of mine ventilation system…

Processing…

Processing 2015 achievement…throughput ramp-up on track

1000

1050

1100

1150

1200

2015 2015 2015 2015

31-Mar 30-Jun 30-Sep 31-Dec

Quarter ended Quarter ended Quarter ended Quarter ended

Loulo-Gounkoto processing plant throughputt 000

actual

forecast

Processing 2015 achievement…recovery ramp-up

87

88

89

90

91

92

93

2015 2015 2015 2015

31-Mar 30-Jun 30-Sep 31-Dec

Quarter ended Quarter ended Quarter ended Quarter ended

Loulo-Gounkoto processing plant recovery (%)%

actual

forecast

Processing 2015 achievement…additional capacity - KILN 1100

Sharp decrease in dissolved losses

Installation of de-watering screen

KILN 1100

0.018

0.0080.000

0.005

0.010

0.015

0.020

0.025

0.030

0.035

1-D

ec

3-D

ec

5-D

ec

7-D

ec

9-D

ec

11

-De

c

13

-De

c

15

-De

c

17

-De

c

19

-De

c

21

-De

c

23

-De

c

25

-De

c

27

-De

c

29

-De

c

31

-De

c

Au,

ppm

Dissolved losses (Au, ppm) Impact of new KILN

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Processing 2015 achievement…additional capacity - HPGR/Scat crusher

Impact of scats reprocessing. Monthly 15Kt at 5g/t giving 2 194oz additional gold

Feeding point

Steel balls

removed (magnet)

HPGR

(scats crusher)

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2015 processing achievement…

Elution upgrade Q2 2016

Increase elution efficiency and drop gold inventory anytime it is required

Additional benefit is the drop in CIL circuit dissolved losses

Simplified metallurgical flow sheet…

Smelt-house

Primary

Mill

Stockpile

Elution

Secondary

Crushing

SOFT ORE

PRIMARY

CRUSHER

Conveyor

CIL Tank Farm

Cyclones

Knelson

Concentrators

Mineral

Sizer

Eluate

Gravity

concentrate

TAILINGS DISPOSAL DAM

8km

Upgraded

pipeline

Gold Bullion

Thickener and Clarifier

Accounting Sampling points

Regrind

Mills

Stockpile

Ball Mills

Ball Mills

Primary Mill

KILN

Intermediate Plant

Yalea and Gara

Paste PlantTertiary

Crushing

Engineering and capital…

Engineering and capital…achieved in 2015

Upgraded Gravity Circuit

Install EKATO agitators ahead of the leaching for better oxygen

distribution

Upgraded Regeneration Circuit (additional 1100 kiln

commissioned)

Implemented temporary solution for the mine medium voltage

distribution system

Replaced aging CAT 3512B high speed diesel generators after

10 years in operation

Project 2015…MV buildingimprovement in power stability

Focus 2016…

New medium voltage switching, control and power management system

Additional 2 medium speed generators (12 CM32) of 10 MW for UG refrigeration plants at Gara and Yalea

Elution circuit upgrade to improve gold stripping

Commissioning of Yalea underground crushing and conveying systems

Procurement…

Supply routes to West Africanoperations…

Dakar

MassawaLoulo

Gounkoto

Morila

Tongon

Abidjan

Abidjan to Tongon

Abidjan to Morila

Dakar to Loulo-Gounkoto

625 km

800 km

1000 km

500 km

Supply chain achievements in 2015…

Total stock value growth restricted to $1.8 million (i.e. 3.7%) despite takeover of owner mining spares from AUMS, and expansion of spares holding for backfill equipment

Owner mining – of the $12 million stock held by the contractor for underground mining only $3.5 million was taken over by Somilo after careful analysis of requirements

Cement for backfill – changed from CPA 42.5 to CPJ 32.5 and re-negotiated prices resulting in a total saving of $2.2 million per annum, plus another saving of $600k on reduced transport rates

Deferred payment agreements reached with suppliers of steel balls, conveyor belting, roof support and ventilation ducting (effectively payment is now after consumption)

Vendor Managed Inventory organised for Sandvik spares, Toyota spares and PPE safety wear ($3.5 million spares held by suppliers and not Somilo)

Takeover of UG mining including supply of spares allowed for re-sourcing of suppliers and renegotiation of prices with the following results:-

reduction of 40% on hydraulics prices

reduction of 18% on ground support prices

reduction of 11% on drilling consumables prices

reduction of 20% on ventilation piping prices

An additional 30% reduction on lubricant pricing was negotiated

Reagents pricing was again adjusted during 2015 – see table below

History of reagent pricing

(negotiaterd prtces)

Base price

(PO price

2012)

Base price

(PO price

2013)

Base price

(PO price

2014)

Base price

(PO price

2015)

% diff

2012 to

2015)

Loulo

Hydrachloric acid 32%-HCL

Hydrated lime

Hydrogen peroxide 60%

Steel balls

Lead nitrate 99%

Cyanide

Activated carbon

$295

$485

$615

$1 053

$2 100

$3 370

$3 373

$295

$485

$610

$1 014

$2 205

$3 300

$3 100

$295

$467

$522

$1 014

$2 050

$2 769

$2 375

$238

$467

$522

$724

$2 050

$2 300

$2 300

-19%

-4%

-15%

-31%

-2%

-32%

-32%

Achievements 2015…

Opportunities…supply chain focus in 2016

Investigation and possible implementation of quick lime instead of hydrated lime with an overall saving on expenditure of approximately 20%

Use of local vendor for quicklime with a potential saving of approximately 10%

Switch of cement source to closer supplier with a potential saving of $600 000per annum

Restrict total stock value growth to less than 3% (despite need to stock up with new spares for new regeneration kiln, new elution system, new underground refrigeration system)

Identify procurement presently through middleman, identify manufacturers and maximise procurement directly from manufacturers – target saving of $1.7 million

Evaluate opportunities to further grow local spend (> $110.7 million of 2015– local purchase orders), set objectives and monitor implementation

Financial results…

Loulo-Gounkoto complex…operating results

30 Sep

2015

31 Dec

2014

31 Dec

2013

Mining

Tonnes mined (000) 22 912 27 025 33 188

Ore tonnes mined (000) 3 410 4 539 5 165

Milling

Tonnes processed (000) 3 358 4 396 4 463

Head grade milled (g/t) 4.6 5.0 4.6

Recovery (%) 89.5 90.2 88.4

Ounces produced 447 468 639 219 580 364

Ounces sold 449 314 631 124 587 550

Average price received ($/oz) 1 172 1 267 1 376

Cash operating costs* ($/oz) 641 597 621

Total cash costs* ($/oz) 712 672 704

Gold on hand at period end# ($000) 6 987 9 708 -

Profit from mining activity* ($000) 206 882 375 293 394 633

Gold sales* ($000) 526 574 799 718 808 311

Refer to Q3 2015 quarterly report for footnotes

9 months ended 12 months ended

Loulo standalone operating results…


30 Sep

2015

31 Dec

2014

31 Dec

2013

Mining

Tonnes mined (000) 1 989 2 819 4 251

Ore tonnes mined (000) 1 930 2 699 2 541

Milling



Recovery (%) 89.5 90.1 88.0

Ounces produced 261 728 382 263 308 420

Ounces sold 263 952 376 490 312 748






Gold sales* ($000) 309 509 475 861 436 950


Loulo…5 year plan

0

1

2

3

4

5

6

7

8

9

10

0

100

200

300

400

500

600

2014 2015 2016 2017 2018 2019

Actual production Capex Grade Total cash cost/oz

ProductionOz 000

Gradeg/t

Grade g/t

Total cash cost/oz

Capex $m

Cash cost$/oz 00

Capex$m

*To be updated with Q4 2015 results on 8 February 2016

Gounkoto standalone…operating results


30 Sep

2015

31 Dec

2014

31 Dec

2013

Mining

Tonnes mined (000) 20 922 24 206 28 936

Ore tonnes mined (000) 1 480 1 841 2 624

Milling



Recovery (%) 89.4 90.2 88.8

Ounces produced 185 741 256 957 271 943

Ounces sold 185 361 254 634 274 802






Gold sales* ($000) 217 065 323 857 371 361


Gounkoto…5 year plan

0

1

2

3

4

5

6

7

0

100

200

300

400

500

600

700

800

2014 2015 2016 2017 2018 2019

Production Total cash cost/oz Capex Grade

Gradeg/t

Grade g/tTotal cash cost/oz

Capex $m

ProductionOz 000

Cash cost$/oz

Capex$m


Loulo-Gounkoto…5 year plan

0

1

2

3

4

5

6

7

0

100

200

300

400

500

600

700

800

2014 2015 2016 2017 2018 2019

Actual production Total cash cost/oz Capex Grade

Grade g/tTotal cash cost/oz

Capex $m

Gradeg/t

Productionoz 000

Cash cost$/oz

Capex$m


Exploration…

Legend

Exploration Target

Deposit / Resource

50 ppb Au soil contour

Faleme Mafic Suite

Iron SkarnLimestone

Conglomerate

Loulo… a world class destination

Gara Exploration

+600 000oz @ 4.5g/t

potential (sectional)

Yalea Ridge South

Drilling confirms model.

Small oxide potential

Ironhill

Skarn and Orogenic

models, complex regolith

Gara Conversion

Grades lower than

expected from BM

Gara

P129

Baboto

Loulo 2

Loulo 3

P125

Yalea

Baboto North

New Jog Model

Integrated Mapping

Five regional structures,

deep seated intrusives, new

models generate 56 areas of

interest

Yalea HW Zone

Potential 50Koz @ 4g/t

Yalea Exploration

High Grade UG potential

Gara South

Drilling confirms new fold

model, follow-up in 2016

2km

Loulo – Gara…potential for additional +600 000oz, +4 years LOM

L0CP203

13.85m@ 0.1g/t

L0CP202

9.35m @ 0.79g/t

Inc. 1.15m @ 6.07g/t

L0CP193

16.6m @ 0.1g/t

L0CP204

13.25m @ 0.22g/t

L0CP198

9.55m @ 6.09g/t

Inc.4.65m @ 12.23g/t

L0CP197

3.7m @ 6.16g/t

L0CP195

3.8m @ 7.44g/t

L0CP196

14.9m @3.3g/t

Inc.5.35m @ 5g/t (FW)

3.15m @ 6.38g/t (HW)

Central Conversion Area

L0CP201

Zone 1: 15.6m @ 1.17g/t

Zone2: 3.55m @ 7.78g/t

Inc. 1.59m@ 14.15g/t

L0CP200

2.9m @ 4.8g/tL0CP190

5.86m @ 2.67g/t

L0CP211

Expected

Zone 1: 17.85m @ 2g/t

incl 5m @ 5g/t

Zone 2: 4.3m @ 4g/t

Gold g/t

>8g/t

4–8g/t

3–4g/t

0.5–3g/t

<0.5g/t

N

200m

L0CP199

14.25m @ 4.41g/t

incl 5.9m @ 7.9/t

L0CP194

6.37m@ 12.96g/t

L0CP208

9.75m @ 3.22g/t

Q3 drill results

Drilling in progress

Main down dip ext. to south

Target area

Main South Ext

Limit of resource

Gold g/t

>8g/t

4–8g/t

3–4g/t

0.5–3g/t

<0.5g/t

YDH270

11.05m @ 2.02g/t

Incl. 3.18 @ 4.81g/t

Yalea

North

Purple Patch

Intersection

(Yalea Structure)Dip Change

(Yalea Shear)

YDH269

10.7m @ 4.6/t

YaDH20

2.95m @ 5.72g/tYDH259

6.95m @ 6.02g/t

YaDH17

5.2m @ 0.18g/t

YaDH12

4.33m @ 3.38g/t

YaDH14

7.6m @ 0.2g/t

YaDH18

10.61m @ 5.31g/t

Yalea North

Exploration

Target

YDH272

(In progress)

YDH271

2.95m @ 4.45g/t

(June 2015_BM)

YDH277

Expected

Zone 1: 13.3m @ 3g/t.

Incl. 3.6m @ 5g/t.

Zone 2: 11.86m @ 3g/t.

Incl. 3.66m @ 8g/t.

Exp Drilling (completed)

Exp Drilling (planned) Conversion Drilling

Drill Result (2015) Yalea South Exploration Target

Open

Multiple structurally controlled targets, remain open down plunge

60o dip

80o dip

Loulo – Yalea…potential for additional upside

N

400m

Target generated from re-logging 23 holes and revising the geologic model.

Geologic Model:

Yalea Shear is anastomosing,

more than one mineralised zone.

HW min. flanks competent si-alb

lens (strain partitioning).

N Flitch -358 RL

Yalea

Shear

wireframe

HW Min

Zone

wireframe

UG

Access

150m

Longsection:

Yalea HW zone (new)…potential 50,000oz @ 4g/t

HW Min. Zone

Pierce points

(previous drilling)

Limit of

Purple Patch

Av. True

Width 4.5m

Planned

DrillingUG

Development

HW Min Zone:

50Koz. @ 4g/t

UG

X-cut

Yalea Ore

Wireframe

HW Min.

Zone

Si-Alb

Lens

100m

50m

50m

N

NStrike length 530m

Lithology

Int. Intrusive

Limestone

Breccia

Sandstone / Wacke

Structure

Bedding form line

Cleavage form line

Shears

Gounkoto Project

Updated Geology30 – 99 ppb

100 – 6221 ppb

Au in Soil

Gounkoto

Resource

Gounkoto…exploration opportunities

N

1000m

Gounkoto MZ1 UG

Limited UG potential

P64W

ADGC drilling confirms new

model, add to mine plan.

HG intersections incl:

24m @4.43g/t

33m @ 6.61g/t

Toronto

15 RC holes (1 169m),

results are low grade.

Toronto South

Weak intercepts from

drilling blind dilational jog.

Target removed.

Greenfields

Mine flexibility targets, 2

prioritised, 6 handed over

to MR team.

Target Generation

28 areas of interest (AOI)

identified.

Saprock Geochemistry

Blind targets identified

(Namilla, GKS, Minan).

6

P64 West: open at depth

100RL

NE Structure Long-section: Alteration & Gram.Metre (looking NW)

50m

Open

Hematite

Alteration

Tourmaline

Silica (+Chlorite)

Alteration

Magnetite

Chlorite

Alteration

Black

Sandstone

Contact

P64DH01

13m @ 5.19g/t

TW 8.46m

(Sandstone 2)

SW (220) NE (040)

$1,000 Pit

(schematic)

NS

Shears

50RL

Steep

Intersection

(64 172)

NS Shear

NE Shear

+100 g.m

50-100 g.m

Gram.Metre

P64DH01

44m @ 1.42g/t

TW 12m

(Sandstone 1)P64AGCRC013

19.5m @ 1.38g/t

TW 15m

Potential at depth is being re-assessed with the Super Pit concept

Regional

Albitite

IP Chargeability Axis

Known Mineralisation

Interpreted Structure

Bedding (form-line)

Gounkoto system… open north into Senegal

800m

NGounkoto Domain

Boundary

Approaches Mananord

Mananord

MNTR003A MNDH004

show weak min. open to

the south

Gounkoto North

Litho-samples Incl. 8.8g/t,

22.5g/t.

(MZ4 style min.)

High Strain Zone

Chlorite-sericite Schist

MZ3 Structure

IP Chargeability Axis with

saprolite anomaly

Toronto

(removed)

Quartzwacke

+ tourmaline

alteration

Saprolite

geochemistry

MZ3

Structure

MZ3 Deep

MZ3P64

Social and community development…

Loulo-Gounkoto CSR…stakeholderengagement is core to our sustainability

Community committee meeting every month

Mass meeting with employees every quarter

CEO meeting chiefs / and employees

Annual sustainability report feedback to community and authorities

Materiality assessment

GM courtesy visits

Grievance mechanism

Zero unresolved grievances

Loulo-Gounkoto CSR…

> $5.2m invested to date

HEALTH, 16%

EDUCATION, 11%

POTABLE

WATER, 12%

AGRICULTURE

/FOOD SECURITY, 7%

STAKEHOLDER

ENGAGEMENT, 17%

LOCAL ECONOMIC

DEVELOPMEN

T, 37%

LOULOHEALTH, 3%

EDUCATION, 8%

POTABLE WATER, 11%

AGRICULTURE /FOOD

SECURITY, 19%

STAKEHOLDER

ENGAGEMENT, 4%

LOCAL

ECONOMIC DEVELOPMENT,

55%

GOUNKOTOHEALTH, 8%

EDUCATION,

9%

POTABLE

WATER, 12%

AGRICULTURE

/FOOD SECURITY,

14%

STAKEHOLDER

ENGAGEMENT, 9%

LOCAL

ECONOMIC DEVELOPMENT,

47%

LOULO-GOUNKOTO

$2.1 million spent in 2015 alone

Loulo-Gounkoto CSR…some solid facts

+90% of our employees are nationals

10% community contribution reinforced with subcommittees establishment

Provided 10 tractors to date and seeds and fertilizers every year

$1.4 million spent on the agribusiness college construction – 67 students - 4

tonnes of broilers and 1 tonne of vegetables sold – to boost food security,

local economic development and education

45 boreholes constructed to improve access to potable water

8 schools constructed (66 classes) >3 000 children have access to primary

education against <500 in 2005, teachers training programme implemented

Partnered with local NGOs in sustainability programmes – World Education

(education), ONG Soutoura (health) and Nyesigiso (microfinance)

Well equipped clinic offers free medical treatment for community women

and children below 5 years and free consultations for all community people.

A pilot clinic built in one village to progressively transfer capacity and

existing hospitals reinforced (Dock to Doc and soon CURE)

Loulo-Gounkoto CSR…the agribusiness project

Accommodation

Classrooms Canteen

Poultry + mill + abattoir Cattle farming Vegetable farming+tractor+nursery

Power supply: Solar panel + 10Kva backup generator Water supply: 1 tank fed by two

boreholes

Loulo-Gounkoto CSR…the agribusiness Project,illustration

Loulo-Gounkoto CSR…

contribution to Malian economy,to date

Total payment

$2.3 billion

$1 693m

$424m

$185m

Direct and

indirect taxes

Royalties

Loulo

Total payment

$526 million

$284m

$80m

Local suppliers, local

salaries, community

investment

Royalties

Gounkoto

$80m

Dividendspaid

$83m

Direct and Indirect taxes

Local suppliers, local

salaries, community

investment

Disclaimer…

Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code. As such

numbers are reported to the second significant digit. They are equivalent to National Instrument 43-101. Mineral

resources are reported at a cut-off grade based on a gold price of US$1 500/oz.

The reporting of mineral reserves is also in accordance with Industry Guide 7. Pit optimisations are carried out at a

gold price of US$1 000/oz, except for Morila which is reported at US$1 300/oz. Mineral reserves are reported at a

cut-off grade based on US$1 000/oz gold price within the pit designs. Underground reserves are also based on a

gold price of US$1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves. Cautionary note

to US investors: The United States Securities and Exchange Commission (the SEC) permits mining companies, in

their filings with the SEC, to disclose only proven and probable ore reserves. Randgold uses certain terms in this

annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits the company from

including in its filings with the SEC. Investors are cautioned not to assume that all or any parts of the company’s

resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ for the purposes

of the SEC’s Industry Guide number 7.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical information

contained herein, the matters discussed in this presentation are forward-looking statements within the meaning of

Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, and

applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements

with respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineral

reserve estimates, the timing and amount of estimated future production, costs of production, reserve

determination and reserve conversion rates. Generally, these forward-looking statements can be identified by the

use of forward-looking terminology such as ‘will’, ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’,

‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of

such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be

taken’, ‘occur’ or ‘be achieved’. Assumptions upon which such forward-looking statements are based are in turn

based on factors and events that are not within the control of Randgold Resources Limited (‘Randgold’) and there

is no assurance they will prove to be correct. Forward-looking statements are subject to known and unknown

risks, uncertainties and other factors that may cause the actual results, level of activity, performance or

achievements of Randgold to be materially different from those expressed or implied by such forward-looking

statements, including but not limited to: risks related to mining operations, including political risks and instability

and risks related to international operations, actual results of current exploration activities, conclusions of

economic evaluations, changes in project parameters as plans continue to be refined, as well as those factors

discussed in Randgold’s filings with the US Securities and Exchange Commission (the ‘SEC’). Although Randgold

has attempted to identify important factors that could cause actual results to differ materially from those contained

in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or

intended. There can be no assurance that such statements will prove to be accurate, as actual results and future

events could differ materially from those anticipated in such statements. Accordingly, readers should not place

undue reliance on forward-looking statements. Randgold does not undertake to update any forward-looking

statements herein, except in accordance with applicable securities laws.

CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in their filings with the SEC, to disclose

only proven and probable ore reserves. We use certain terms in this release, such as ‘resources’, that the SEC

does not recognise and strictly prohibits us from including in our filings with the SEC. Investors are cautioned not

to assume that all or any parts of our resources will ever be converted into reserves which qualify as ‘proven and

probable reserves’ for the purposes of the SEC’s Industry Guide number 7.

a world class business by any measure our flagship loulo-gounkoto complex continues …€¦ ·...

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