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12/23/10

Randgold (GOLD) has a message for the violent gangs of Ivory Coast currently running amok in the country

"Hey guys, this is the exact place where we're producing and storing a whole heap of gold bullion."

 Form an orderly queue right here, gentlemen. AK-47s may come in handy.

And thusly Randgold's IR dep't scores low marks on the common-sense-o-meter. Today's NR here, excerpts below:
"Randgold Resources said today the effect of the continuing political impasse in Côte d'Ivoire on its Tongon mine and a below-target contribution from its Loulo complex would have a negative impact on its fourth quarter performance and its year end results."


"....the company has revised its production guidance for Tongon and stated that assuming the supply chains could be managed and the situation on site remained as it is today, the mine was planning to process approximately 350 000 tonnes of oxide ore at a grade of 3.4g/t to produce approximately 35 000 ounces for the year. Bristow added that given the current situation and the resultant delays, gold sales were expected to differ to production." CONTINUES HERE

Meanwhile, check out WaPo on the post election violence on this link. Over 200 dead now, we hear.
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