Randgold
Resources Annual Report 2005 15
LOULO
MINERAL RESOURCES
Mt g/t
Mozs
Stockpiles
Measured 0.66
2.94 0.06
Loulo 0
Measured
9.40 3.84 1.16
Indicated
9.93 4.34 1.39
Sub-total
Measured and
indicated 19.32
4.10 2.55
Inferred
0.31 6.28 0.06
Yalea (incl.P125)
Measured 6.80
4.02 0.88
Indicated 32.75 5.09 5.36
Sub-total
Measured and
indicated 39.56
4.91 6.24
Inferred 3.18 4.65 0.47
Satellites
Indicated
Loulo 0 West
1.96 2.28
0.14
P129
0.36
2.97 0.03
Sub-total
2.32
2.39 0.17
Satellites
Inferred
P129
0.55 2.08
0.04
Loulo 3
0.48
2.71 0.04
Baboto
5.30
1.71 0.29
Sub-total
6.33
1.82 0.37
Total Measured
and
indicated
61.86
4.54 9.03
Total
Inferred
9.82 2.87 0.90
ORE RESERVES
Mt g/t Mozs
Loulo 0 Pit
Proved
7.29 3.29 0.77
Probable
0.24 3.00 0.02
Sub-total
7.53 3.28
0.79
Yalea Pit
Proved
5.80 3.79 0.71
Probable
0.72 5.56 0.13
Sub-total
6.52 3.98
0.84
P125 Pit
Proved
Probable 0.51
3.53 0.06
Sub-total
0.51 3.53
0.06
P129 Pit
Proved
Probable
0.24 2.67 0.02
Sub-total
0.24 2.67
0.02
Stockpiles
Proved
0.66 2.94
0.06
Probable
Sub-total
0.66 2.94 0.06
Total surface
sources
15.45 3.56
1.77
Loulo 0 underground
Proved
Probable
5.14 4.00
0.66
Sub-total
5.14 4.00
0 .66
Yalea underground
Proved
Probable
17.98 5.46
3.15
Sub-total
17.98 5.46 3.15
Total undergound
23.12 5.13
3.82
Loulo total
Proved
13.75 3.48 1.54
Probable
24.82 5.07 4.05
Total
38.57 4.50 5.59
Reserves are reported at a gold price of US$425 per
ounce.
Dilution of 10% and ore loss of 5% are incorporated into
the calculation of reserves.
Plant design, construction and commissioning
Despite major problems with the main sub-contractor,
MDM, sufficient progress was made on the first phase
of the plant to allow the commissioning of the soft material
circuit in August and September 2005, resulting in
production of gold from the gravity circuit in September.
The commissioning of the carbon circuit followed allowing
gold production to stabilise and the first sale to be made
on 8 November 2005.
Due to a failure on the part of MDM to meet its
commitments on the Loulo project, the main contract
was taken back on 30 December 2005. Randgold
Resources’ project team is now handling the day-to-day
management of the construction activities. Although
we are still in the process of completing the “punch list”
items of Phase 1, the operation has settled down, milling
in excess of 8 000 tonnes per day of softer material.
Civil works on the Phase 2 development are progressing
with the completion of the crushing circuit expected in
the second quarter of 2006. The primary crusher is on
site and the secondary and tertiary crushers have landed
in Dakar and will be on site by early March 2006.
Additional manpower and mobile cranes are being
mobilised to site to ensure sufficient resources are
available to complete the construction of the crushing
plant timeously.
1 Throughput, recovery and reagent utilisation at Loulo’s
Phase 1
plant, have all met forecast levels.
