Randgold Resources

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.

Randgold Resources Ltd Period End 31 December 2008

Randgold Resources Annual Report 2008

Impairment of US$10.4 million reduces pre-tax profit by 13%
Jersey-based gold mining company Randgold Resources concludes that impairment of US$10.4 million that reduces pre-tax profit by 13% arises from credit rating downgrade of investments.