Randgold (Nasdaq:GOLD) Upbeat on Production

Randgold (Nasdaq:GOLD) says it should beat its gold production for 2009, which came in at 488.255 ounces, although they didn't give specific numbers or guidance to where they think production could rise to.

But looking into the years ahead, Randgold said they estimate by the end of 2014 gold production should reach about 1.2 million.

This isn't a bad outlook when you consider some of the recent challenges they've had, including higher costs at their Loulo, Mali flagship mine, production issues and other significant setbacks.

Production is the strength of Randgold at this time, as the gold miner is increasingly find quality deposits, which point to more grams of gold found per ton of ore they mine.

So if they can get things under better control operationally and with costs, they could be a solid company in the years ahead.