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Randgold Resources Shares Fall after Second Quarter Earnings, Output Decline

Randgold Resources (GOLD) on Thursday said full-year output will be towards the bottom end of a previously announced range, and costs at the higher end of a forecast band, after production problems hit second-quarter earnings.

During the period Randgold halted output at the Tongon mill in Cote d'Ivoire, west Africa, while its Kibali plant in the Democratic Republic of Congo also experienced problems.

Group output fell 4% quarter-on-quarter to 281,494 ounces, while Randgold's cash cost per ounce rose 12% to $727...