The company has again made great progress on all its organic growth projects, and is moving forward on the build up of the underground mining operation at Loulo. As highlighted, ore processing at the company’s new Tongon mine commenced in October, and as such the fourth quarter group production is expected to be significantly higher than the third quarter.
Presidential elections were held in Côte d’Ivoire on 31 October but with none of the candidates securing an absolute majority, a second round will take place towards the end of November. The run-up to the elections was a significant distraction to the largely Ivorian workforce but they were still able to bring the mine into production on schedule.
As is customary, the company will be finalising its 2011 budget during the fourth quarter and guidance for 2011 will be given with the year end results. Similarly, the company expects to complete and present the feasibility studies on the Gounkoto project and the updated feasibility study on the Kibali project at this time.
The directors confirm to the best of their knowledge that:
a) these third quarter results have been prepared in accordance with IAS 34 as adopted by the European Union; and
b) the interim management report includes a fair review of the information required by the FSA’s Disclosure and Transparency Rules (4.2.7R and 4.2.8R).