After three years of losses spot gold is up 23 percent so far in 2016 as global economic and political concerns benefited the safe-haven asset.
"If the gold price stays above $1,250 per ounce, and we deliver on our forecasts, we should get close to a $500 million (405 million pound) net cash position at the year end," Chief Executive Mark Bristow said in a statement.
Third-quarter net cash rose 18 percent to $361.1 million quarter on quarter while profit jumped 32 percent $77.3 million.
"Forecast cash flows generated from operations are expected to support funding for the three new projects the company has set as a goal to establish over the next five years as well as increasing dividends," Randgold said.
Gold production in the third quarter rose 7 percent to 301,163 ounces due to strong performances at the Tongon and Kibali mines while total cash costs fell 9 percent from the previous quarter to $663 per ounce, Randgold said.
(Reporting by Zandi Shabalala; editing by David Clarke and Jason Neely)
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