Randgold Resources CEO sells three million quid's worth of shares

14th Nov 2012 16:30

- Please note: This is a revised version of a story which previously contained information that was incorrect. After what has been a less-than-impressive year, the Chief Executive of FTSE 100 gold miner Randgold Resources, Mark Bristow, sold more than three million pounds worth of shares. Bristow, who has been CEO of Randgold since its incorporation in 1995, deflated his stake in the company, selling 45,000 shares at 6,799p each, by just under £3.06m. One week ago the company delivered a mixed production update, in which it revealed that third-quarter production fell back from the preceding quarter's record levels as the company suffered grid power supply problems at its Tongon mine and processed lower grades at Gounkoto. Production of 204,475 ounces of gold was down from the second quarter's 210,534 ounces, but up from 182,362 ounces in the corresponding period of 2011. The total cash cost per ounce was $737, up from $703 in the preceding quarter but down from $747 the year before. Bristow described the results as a mixed bag, but with the good far outweighing the bad. "Production and costs for the final quarter are forecast to again show significant improvements," he said at the time. In the past 12 months the company's shares have plunged 825p, equal to 11%. In the past week alone shares have lost over 5%, equal to 375p, of their value. Top Director BuysFidessa Group (FDSA) Director name: Mr Chris AspinwallAmount purchased: 10,441 @ 1,273.80p Value: £132,997Chemring Group (CHG) Director name: Mr Mark PapworthAmount purchased: 50,000 @ 225.25p Value: £112,625Chemring Group (CHG) Director name: Mr Peter HicksonAmount purchased: 50,000 @ 223.71p Value: £111,855Admiral Group (ADM) Director name: Mr John SussensAmount purchased: 10,000 @ 1,081.00p Value: £108,100First Derivatives (FDP) Director name: Mr Keith MacDonaldAmount purchased: 10,000 @ 535.00p Value: £53,500Fidessa Group (FDSA) Director name: Mr John HamerAmount purchased: 2,500 @ 1,273.80p Value: £31,845Frontera Resources Corporation (DI) (FRR) Director name: Mr Steve C NicandrosAmount purchased: 6,252,857 @ 0.50p Value: £31,264Ocean Wilsons Holdings Ltd. (OCN) Director name: Mr Chris Townsend Amount purchased: 2,500 @ 973.00p Value: £24,325Frontera Resources Corporation (DI) (FRR) Director name: Mr Steve C NicandrosAmount purchased: 4,250,000 @ 0.49p Value: £20,825Cape (CIU) Director name: Mr Leslie Van de WalleAmount purchased: 10,000 @ 181.20p Value: £18,120Top Director SellsRandgold Resources Ltd. (RRS) Director name: Dr D Mark BristowAmount sold: 45,000 @ 6,799.00p Value: £3,059,550First Derivatives (FDP) Director name: Mr Michael O'NeillAmount sold: 10,000 @ 535.00p Value: £53,500