The Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Africa-focused gold miner Randgold Resources have both made sizeable investments in the company just two weeks after the firm's first-quarter results.
Mark Bristow, CEO, bought 13,480 ordinary shares in Randgold on May 18th at a price of $76.55 (4,840.34p) for a total of £652,478.
Bristow has held the lead role in Randgold since its incorporation when it was founded on his exploration work in West Africa. Bristow "has played a significant part in promoting the emergence of a sustainable mining industry in Africa," the company's website said.
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Friday's purchase brought his total shareholding to 737,730 ordinary shares, equal to 0.8% of it's the company's current issued share capital.
Meanwhile, Randgold's CFO Graham Shuttleworth spent £142,209 on Friday also, buying 2,938 shares at the same price as Bristow, taking his shareholding to 30,938 ordinary shares (0.03% stake). Shuttleworth has been CFO since July 2007 but has been associated with the company since its inception.
The firm revealed on May 3rd that it put in a 'robust performance' in the first quarter of 2012 in spite of the challenges it has faced in Mali, as a military coup in the country saw the stock lose around a quarter of its value in the last two months.
Compared with the first three months of 2011, the firm achieved strong growth in profits (up 126% and $104m) and production (up 19% at 165,443 ounces). However, in line with guidance, both elements were significantly down on the fourth quarter's record results, -28% and -13%, respectively.
Revenues jumped from $185.6m to $271.3m year-on-year in the first quarter, but were under the $311.5m recorded in the fourth quarter of 2011.
Top Director Buys
Randgold Resources Ltd. (RRS)
Director name: Dr D Mark Bristow
Amount purchased: 13,480 @ 4,840.34p
Value: £652,478
Reckitt Benckiser Group (RB.)
Director name: Ms Liz Doherty
Amount purchased: 7,000 @ 3,391.00p
Value: £237,370
Randgold Resources Ltd. (RRS)
Director name: Mr Graham Shuttleworth
Amount purchased: 2,938 @ 4,840.34p
Value: £142,209
Origo Partners (OPP)
Director name: Mr Chris Andre Rynning
Amount purchased: 204,032 @ 23.92p
Value: £48,804
Lavendon Group (LVD)
Director name: Mr Don Kenny
Amount purchased: 28,552 @ 104.49p
Value: £29,834
North Atlantic Smaller Companies Inv Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 2,500 @ 950.00p
Value: £23,750
Sierra Rutile Ltd (SRX)
Director name: Mr Jan Alex Castro
Amount purchased: 35,000 @ 57.93p
Value: £20,276
Lavendon Group (LVD)
Director name: Mr John Standen
Amount purchased: 17,500 @ 103.00p
Value: £18,025
Sphere Medical Holding (SPHR)
Director name: Dr Anthony Francis Martin
Amount purchased: 20,000 @ 79.00p
Value: £15,800
Sphere Medical Holding (SPHR)
Director name: Mr Stephen H Mahle
Amount purchased: 15,000 @ 79.00p
Value: £11,850
BC
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