Director dealings: Randgold boss sells GBP3.6m of shares

Randgold Resources chief executive Mark Bristow sold £3.6m worth of shares in the mining group after recent quarterly results helped them bounce off a three-month low.

The FTSE 100 group on Tuesday confirmed that said Bristow had offloaded 50,000 at a price of 7,243.7p apiece.

Following the disposal Bristow's still had 768,642 shares in the company.

Earlier this month he had overseen the publishing of a solid set of first-quarter numbers, with gold production of 322,470 ounces, cash costs to $619 an ounce and a profit of $84.9m.

While production was up 10% compared to the same quarter last year, costs 4% better and profit ahead by a third, compared to the fourth quarter of last year, however, gold production was down 15%, cash costs were up 13% and profit was off 10%.

This was in part due to work stoppages at both the Loulo-Gounkoto complex in Mali and Tongon in Côte d'Ivoire.

Said Bristow at the time: "The past quarter's work stoppages, which disrupted our usually stable industrial relations climate, prompted us to take a fresh look at this aspect of our business and we are rolling out a potent internal campaign designed to ensure that the company's distinctive DNA is fully shared by all who work here through fostering an inclusive culture of two-way communication and engagement that takes in all levels in the organisation."

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