Randgold Resources is one of our core position gold producers so this interview with Mark Bristow at the Prospectors and Developers Association of Canada (PDAC) is well worth a listen.
In a nutshell Mark who is the CEO comes across as very positive and confident that Randgold has a great future, which you would expect from a gold producing CEO. However some of these snippets are very encouraging, for instance:
Randgold intends to double production and can achieve this target without having to go the market for funds, in such a tight credit market it is good to see that Randgold can continue its development without having to beg the banks for the funds. The company's cash costs are $460/oz, so the margins are excellent. Mark also touches on why Randgold is a better investment than an ETF in terms of Randgold having leverage to the gold prices when compared to the ETFs. However, he does point out that the ETFs reflect a transition in the ownership of gold from the government to the private sector.
Click this link to catch Mark on BNN.
We are not saying that now is the time to buy but it is certainly worth keeping on your watch list with the intention to bag a few when there is a dip. If it drops a lot lower we will become buyers again, for now we are comfortable with what we have and pleased with Randgold's performance to date.
Randgold has a market capitalization of $3.43 billion, a P/E ratio of 82.21with 76.66 million shares outstanding. The average volume of shares traded is 1.16 million per day. This stock has a 52 week high of $56.28 and a 52 week low of $22.28. The stock closed at $44.77 today on the NASDAQ.
Randgold Resources Limited trades on the NASDAQ under the symbol of GOLD and on the London Stock Exchange under the symbol of RRS.
Got a comment – then fire it in.
If you are new to investment in the precious metals sector then you may wish to subscribe to our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, please click on the links.