Exhibit4.23

SHARE AND DEBT SALE DEED

DATED: JUNE 1,2004

BETWEEN:

RANDGOLD RESOURCES LIMITED

AND

RESOLUTE MINING LIMITED

[TROIKALEGAL Letterhead]

----

SHARE AND DEBT SALE DEED

**THIS DOCUMENT** is made on June 1, 2004

BETWEEN:

**RANDGOLD RESOURCES LIMITED**(Registration Number 62686) of La Motte Chambers, La Motte Street,St Helier, Jersey JE1 1BJ, Channel Islands **("RandgoldResources")**

AND:

**RESOLUTEMINING LIMITED**(ACN 009 069 014) of 4th Floor, The BGCCentre, 28 The Esplanade, Perth, Western Australia**("Resolute")**

RECITALS:

|          |                                                                                                                       |
|----------|-----------------------------------------------------------------------------------------------------------------------|
| A.  | Randgold Resources isthe registered holder and beneficial owner of the whole of the issuedcapital of Randgold Somisy. |

|          |                                                                   |
|----------|-------------------------------------------------------------------|
| B.  | RandgoldSomisy owns 80% of the issued share capital of SomisyS.A. |

|          |                                                                                        |
|----------|----------------------------------------------------------------------------------------|
| C.  | Under the Heads of Agreement,Randgold Resources granted Resolute an option topurchase: |

|        |     |                                                                         |
|--------|-----|-------------------------------------------------------------------------|
|   | (1) | theShares, being the whole of the issued capital of Randgold Somisy;and |

|        |     |                                                                                                                                                          |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | theDebts, being any debts owed by Randgold Somisy and Somisy S.A. toRandgold Resources or any Related Body Corporate of Randgold Resourcesat Completion. |

|          |                                                  |
|----------|--------------------------------------------------|
| D.  | Resolute exercisedits Option on the Option Date. |

|          |                                                                                                                              |
|----------|------------------------------------------------------------------------------------------------------------------------------|
| E.  | TheParties wished to enter into this Document to record the terms on whichthe Shares and Debt will be purchased by Resolute. |

THE PARTIESHAVE AGREED AS FOLLOWS:

|          |                               |
|----------|-------------------------------|
| 1.  | DEFINITIONS ANDINTERPRETATION |

|           |                                                                                               |
|-----------|-----------------------------------------------------------------------------------------------|
| 1.1  | The following wordshave these meanings in this Document unless the contrary intentionappears: |

|        |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (1) | **"AverageGold Price"**means the average price for gold for anyCalendar Quarter determined by dividing the sum of the daily pricesposted on each Business Day during the Calendar Quarter by the numberof Business Days that prices were posted. The posted prices are theLondon PM fix US$ spot gold price quoted on the London Metals ExchangeLimited or its successor in title or such other price as may bedetermined pursuant to clause3; |

|        |     |                                                                                            |
|--------|-----|--------------------------------------------------------------------------------------------|
|   | (2) | **"BusinessDay"**means a day on which trading banks are open forgeneral business inLondon; |

|        |     |                                                                                                                   |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|
|   | (3) | **"CalendarQuarter"**means a period of 3 months commencing on 1January, 1 April, 1  July or 1 October in anyyear; |

|        |     |                                                                                                                                                                           |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (4) | **"Completion"**means settlement of the sale and purchase of the Shares andtransfer of the Debts in accordance with clause 3 and**"Complete"**has a correspondingmeaning; |

|        |     |                                                     |
|--------|-----|-----------------------------------------------------|
|   | (5) | **"CompletionDate"**means the date of thisDocument; |

|        |     |                                                                                                                                                                                                                                                                         |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (6) | **"ConfidentialInformation"**means all trade secrets and allfinancial, marketing and technical information, ideas, concepts,knowhow, technology, processes and knowledge which is confidential orof a sensitive nature, but excludes that which is in the publicdomain; |

2

----

|        |     |                                               |
|--------|-----|-----------------------------------------------|
|   | (7) | **"DebtPrice"**means the sum of$9,852,590.51; |

|        |     |                                                                    |
|--------|-----|--------------------------------------------------------------------|
|   | (8) | **"Debts"**means the Randgold Somisy Debt and the Somisy S.A.Debt; |

|        |     |                                                                                                                                                                                                                         |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (9) | **"Deposit"**means the US$1,300,000 paid by Resolute into RandgoldResources' solicitors' trust account pending Completion andsettlement of the transfer of the Shares and Debts or to satisfy theprovisions of clause7; |

|        |      |                                                                                          |
|--------|------|------------------------------------------------------------------------------------------|
|   | (10) | **"Document"**means this document and the contract or agreement created by thisdocument; |

|        |      |                                                                                                                                     |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|
|   | (11) | **"Dollars","$", "US$"**, and**"$US"** mean the lawful currency of theUnited States of America unless specifically statedotherwise; |

|        |      |                                                                                                                                                                                                                                                                                                                                                                     |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (12) | **"Encumbrance"**means any encumbrance, mortgage, pledge, charge, lien, assignment,hypothecation, security interest, title retention, preferential rightor trust arrangement and any other security or agreement of any kindgiven or created and including any possessory lien in the ordinarycourse of business whether arising by operation of law or bycontract; |

|        |      |                                                                                                                 |
|--------|------|-----------------------------------------------------------------------------------------------------------------|
|   | (13) | **"Headsof Agreement"**means the Heads of Agreement dated 16April 2003, between Randgold Resources andResolute; |

|        |      |                                      |
|--------|------|--------------------------------------|
|   | (14) | **"Mali"**means the Republic ofMali; |

|        |      |                                                                                                                                                                                                                                                                                    |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (15) | **"Option"**means the option granted by Randgold Resources to Resolute topurchase 100% of Randgold Somisy's issued share capitaland all debts owed by Randgold Somisy and Somisy S.A. to RandgoldResources and its subsidiaries, referred to in clause 3 of the Heads ofAgreement; |

|        |      |                                                                                          |
|--------|------|------------------------------------------------------------------------------------------|
|   | (16) | **"OptionDate"**means 5 April 2004, being the date on whichResolute exercised itsOption; |

|        |      |                                                                                                                            |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|
|   | (17) | **"OptionFees"**means the fees due from Resolute to RandgoldResources pursuant to the provisions of the Heads ofAgreement; |

|        |      |                                           |
|--------|------|-------------------------------------------|
|   | (18) | **"Party"**means a party to thisDocument; |

|        |      |                                                                                            |
|--------|------|--------------------------------------------------------------------------------------------|
|   | (19) | **"PurchasePrice"**means $9,852,591.51, being the sum of the SharePrice and the DebtPrice; |

|        |      |                                                                                                  |
|--------|------|--------------------------------------------------------------------------------------------------|
|   | (20) | **"QuarterDate"**means any date being no later than 30 days afterthe end of each CalendarQuarter |

|        |      |                                                                                                                  |
|--------|------|------------------------------------------------------------------------------------------------------------------|
|   | (21) | **"RandgoldResources' Account"**means such bank account,details of which have been notified to Resolute priorto: |

|        |     |                                                  |
|--------|-----|--------------------------------------------------|
|   | (a) | in thecase of the Purchase Price, Completion;and |

|        |     |                                                       |
|--------|-----|-------------------------------------------------------|
|   | (b) | in thecase of each Royalty, the relevant QuarterDate; |

|        |      |                                                                                                                                                                                |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (22) | **"RandgoldSomisy"**means Randgold Resources (Somisy) Limited[No 63495] of La Motte Chambers, La Motte Street, St Helier,Jersey, Channel Islands, registered on 8 October1999; |

|        |      |                                                                                                                                                                                                                                                                |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (23) | **"RandgoldSomisy Debt"**means the total amount of all principal,interest and other costs, charges, and expenses in respect of allindebtedness owing by Randgold Somisy to Randgold Resources or any ofits Subsidiaries (other than Somisy S.A.) atCompletion; |

|        |      |                                                                                                                                                                                                                                        |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (24) | **"Records"**means originals and copies, in machine readable or printed form, ofall books, files, reports, records, correspondence, documents and othermaterial of Randgold Somisy, Somisy S.A. or any of their Subsidiariesincluding: |

|        |     |                                                                                                                                                               |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (a) | salesliterature, market research reports, brochures and other promotionalmaterial (including printing blocks, negatives, sound tracks andassociatedmaterial); |

|        |     |                                  |
|--------|-----|----------------------------------|
|   | (b) | allsales and purchasing records; |

3

----

|        |     |                                      |
|--------|-----|--------------------------------------|
|   | (c) | alltrading and financial records;and |

|        |     |                                             |
|--------|-----|---------------------------------------------|
|   | (d) | listsof all regular suppliers andcustomers; |

|        |      |                                                                                                                                                                                   |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (25) | **"RelatedBody Corporate"**in relation to a body corporate, meansa body corporate which controls, is controlled by or is in commoncontrol with the first mentioned bodycorporate; |

|        |      |                                                                    |
|--------|------|--------------------------------------------------------------------|
|   | (26) | **"Royalty"**means the royalty payable in accordance with clause4; |

|        |      |                             |
|--------|------|-----------------------------|
|   | (27) | **"SharePrice"**means$1.00; |

|        |      |                                                                      |
|--------|------|----------------------------------------------------------------------|
|   | (28) | **"Shares"**means the whole of the issued capital of RandgoldSomisy; |

|        |      |                                                                                                                                                                                          |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (29) | **"ShareholdersAgreement"**means the shareholder agreement dated 23September 1992 between the Republic of Mali, BHP Minerals InternationalInc. and the International FinanceCorporation; |

|        |      |                                                                                                                    |
|--------|------|--------------------------------------------------------------------------------------------------------------------|
|   | (30) | **"SomisyS.A."**means Societe des Mines de Syama S.A., of 104,Rue 214, Hippodrome, PB E – 1160, Bamako,Mali; |

|        |      |                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (31) | **"SomisyS.A. Debt"**means the total amount of all principal,interest and other costs, charges and expenses in respect of allindebtedness owing by Somisy S.A. to Randgold Resources or any of itsSubsidiaries (other than Randgold Somisy) at Completion includingwithout limitation, the aggregate amount of $353,549,401.55 referred toin the Deed of Acknowledgement and Confirmation of Debt dated the samedate as thisDocument; |

|        |      |                                                                            |
|--------|------|----------------------------------------------------------------------------|
|   | (32) | **"Subsidiary"**has the following meaning. If a body corporate (CompanyA): |

|        |     |                                                                            |
|--------|-----|----------------------------------------------------------------------------|
|   | (a) | controlsthe composition of another body corporate's (Company B)'s)board;or |

|        |     |                                                                                                                                                                                        |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (b) | is in aposition to cast, or control the casting of, more than one-half of themaximum number of votes that might be cast at a general meeting of theother body corporate (Company B);or |

|        |     |                                                                                                                                                                                                                                                            |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (c) | holdsmore than one-half of the issued share capital of the other bodycorporate (Company B), (excluding any part of that issued share capitalthat carries no right to participate beyond a specified amount in adistribution of either profits or capital), |

|        |                                        |
|--------|----------------------------------------|
|   | Company B is a subsidiary of CompanyA; |

|        |      |                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (33) | **"SyamaGold Mine"**means the gold mine located approximately300 km south of Bamako and within 25 km of the border of Mali withIvory Coast, more specifically referred to in the ShareholdersAgreement, which expression shall include any mine or mines located in,or producing gold from any ore located in, any land or other assetowned by Somisy S.A. as at the date of this Document;and |

|        |      |                                                                     |
|--------|------|---------------------------------------------------------------------|
|   | (34) | **"Warranties"**means the warranties in clause 5.1 of thisDocument. |

|           |                                                       |
|-----------|-------------------------------------------------------|
| 1.2  | In this Document unlessthe contrary intentionappears: |

|        |     |                                                                                                                                                             |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (1) | areference to a clause or schedule is a reference to a clause of orschedule, to this Document and references to this Document include anyclause orschedule; |

|        |     |                                                                                                          |
|--------|-----|----------------------------------------------------------------------------------------------------------|
|   | (2) | areference to this Document or another instrument includes any variationor replacement of either ofthem; |

|        |     |                                                                                                                                                                                      |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | areference to a statute, ordinance, code or other law includesregulations and other instruments under it and consolidations,amendments, re-enactments or replacements of any ofthem; |

|        |     |                                                |
|--------|-----|------------------------------------------------|
|   | (4) | thesingular includes the plural and viceversa; |

|        |     |                                                                                                                                                  |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (5) | wherea word or phrase is given a defined meaning, any other part of speechor grammatical form of that word or phrase has a correspondingmeaning; |

4

----

|        |     |                                                                                                |
|--------|-----|------------------------------------------------------------------------------------------------|
|   | (6) | theword person includes a firm, a body corporate, an unincorporatedassociation or anauthority; |

|        |     |                                                                                                                                           |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|
|   | (7) | ifa period of time is specified and dates from a given day or the day ofan act or event, it is to be calculated exclusive of that day;and |

|        |     |                                                                                                                |
|--------|-----|----------------------------------------------------------------------------------------------------------------|
|   | (8) | areference to a day is to be interpreted as the period of timecommencing at midnight and ending 24 hourslater. |

|           |                                                                                             |
|-----------|---------------------------------------------------------------------------------------------|
| 1.3  | Headings are inserted forconvenience and do not affect the interpretation of this Document. |

|          |                                     |
|----------|-------------------------------------|
| 2.  | SALE AND PURCHASE OF SHARES ANDDEBT |

|           |                                                                                                                                                                                                                                         |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1  | Subject to the terms andconditions of this agreement, Randgold Resources hereby agrees to sell,transfer and assign to Resolute, and Resolute agrees to acquire, on theCompletion Date, the Shares and the Debts, free fromEncumbrances. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.2  | Pursuant to clause2.1 of this Document at Completion Randgold Resources hereby transfersand assigns to Resolute the full legal and beneficial title to theDebts and the full right and entitlement to recover full payment orrepayment of the Debts including each of the debts described in theDeed of Acknowledgment and Confirmation of Debt referred to inclause  1.1  (31) of this Document. Randgold Resourcesagrees that pursuant to such assignment Resolute shall be entitled tosue for and pursue recovery of the Debts including each of the debtsdescribed in the Deed of Acknowledgement and Confirmation of Debtreferred to in clause 1.1  (31) of this Document in all respectsas if Resolute had been named as a party in that deed in place ofRandgold Resources. |

|           |                                                                                                                                                                                                                                                         |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.3  | The Partiesacknowledge that Resolute has paid the Deposit into RandgoldResources' solicitor's trust account to be held in escrowpending Completion. The Parties agree that the Deposit will form partof the purchase price for the Shares and theDebts. |

|           |                                                                                                                                     |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------|
| 2.4  | In consideration of RandgoldResources agreeing to sell, transfer and assign the Shares and theDebts to Resolute, Resolute agreesto: |

|        |     |                                                                                                         |
|--------|-----|---------------------------------------------------------------------------------------------------------|
|   | (1) | pay theShare Price and the Debt Price in cash to Randgold Resources on orbefore the Completion Date;and |

|        |     |                                                                           |
|--------|-----|---------------------------------------------------------------------------|
|   | (2) | pay theRoyalty in cash to Randgold Resources in accordance with clause 4. |

|          |            |
|----------|------------|
| 3.  | COMPLETION |

|           |                                                                                                                                                                                                             |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1  | Completionof the sale and purchase of the Shares and the Debts will take place onthe Completion Date at the offices of Somisy S.A. or such other timeand place as Randgold Resources and Resolute mayagree. |

|           |                                       |
|-----------|---------------------------------------|
| 3.2  | On Completion, RandgoldResourcesmust: |

|        |     |                                                                                      |
|--------|-----|--------------------------------------------------------------------------------------|
|   | (1) | deliver,or if Resolute shall so agree, make available, to Resolute or itssolicitors: |

|        |     |                                                                                                                                                                                                                           |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (a) | thetransfers in common form relating to all the Shares (the**"Share Transfer Forms"),**each dulyexecuted by Randgold Resources, including in accordance with theMemorandum and Articles of Association of RandgoldSomisy; |

|        |     |                                                    |
|--------|-----|----------------------------------------------------|
|   | (b) | evidencethat the directors of Randgold Somisyhave: |

|        |     |                                                                                                                                                  |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (i) | authorisedsome person to execute the Share Transfer Forms pursuant to Article 11of the Memorandum and Articles of Association of RandgoldSomisy; |

|        |      |                                  |
|--------|------|----------------------------------|
|   | (ii) | approvedthe Share TransferForms; |

|        |       |                                                                                                                                        |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------|
|   | (iii) | notsuspended the register of transfer of Shares pursuant to Article 27 ofthe Memorandum and Articles of Association of RandgoldSomisy; |

5

----

|        |     |                                                                         |
|--------|-----|-------------------------------------------------------------------------|
|   | (c) | sharecertificates for the Shares duly endorsed for transfer toResolute; |

|        |     |                                                                                              |
|--------|-----|----------------------------------------------------------------------------------------------|
|   | (d) | sharecertificates for all the shares of Somisy S.A. registered in the nameof RandgoldSomisy; |

|        |     |                                                                                                                                                     |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (e) | aduly executed deed of novation to Resolute, of the contract for themanagement or operation of the Syama Gold Mine in the form agreed bytheParties; |

|        |     |                                                                                                                       |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|
|   | (f) | theresignation of each director of Randgold Somisy and of each directornominated by Randgold Resources of SomisyS.A.; |

|        |     |                                                                                                                         |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------|
|   | (g) | theminute books and other records of meetings or resolutions of membersand directors of Randgold Somisy and SomisyS.A.; |

|        |     |                                                                                                                                                                                                                             |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (h) | allregisters of Randgold Somisy and Somisy S.A. (including the register ofmembers, register of options, register of directors, register ofcharges) in proper order and condition and fully entered up to theCompletionDate; |

|        |     |                                                                                                                                                                                  |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (i) | tothe extent that any of the following are in the possession, custody orcontrol of Randgold Resources all available copies of the constitutionof Randgold Somisy and SomisyS.A.; |

|        |     |                                                                                                                        |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|
|   | (j) | aduly completed authority for the alteration of the signatories of eachbank account of Randgold Somisy and SomisyS.A.; |

|        |     |                                                                                                                                                                                              |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (k) | anotice of assignment of each of the Debts duly executed by RandgoldResources directed to each of the debtors of the Debts in the form andon the terms previously agreed between theParties. |

|           |                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------|
| 3.3  | On Completion, RandgoldResources shall procure the passing of board resolutions of RandgoldSomisy: |

|        |     |                                                                                                             |
|--------|-----|-------------------------------------------------------------------------------------------------------------|
|   | (1) | sanctioningfor registration (subject where necessary to due stamping) thetransfers in respect of theShares; |

|        |     |                                                                   |
|--------|-----|-------------------------------------------------------------------|
|   | (2) | appointingPeter Ernest Huston to be a director of RandgoldSomisy; |

|        |     |                                                                                                                                                                                                      |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | revokingall mandates to bankers and giving authority in favour of the directorappointed under clause 3.3(2) above or such other persons as Resolutemay nominate to operate the bank accountsthereof. |

|           |                                                                                                |
|-----------|------------------------------------------------------------------------------------------------|
| 3.4  | On Completion, RandgoldResources shall procure the passing of board resolutions of SomisyS.A.: |

|        |     |                                                               |
|--------|-----|---------------------------------------------------------------|
|   | (1) | appointingPeter Ernest Huston to be a director of SomisyS.A.; |

|        |     |                                                                                             |
|--------|-----|---------------------------------------------------------------------------------------------|
|   | (2) | acceptingthe resignation of each director nominated by Randgold Resources ofSomisy S.A.;and |

|        |     |                                                                                                                                                        |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | givingauthority to the director appointed under clause 3.4(1) above or suchother persons as Resolute may nominate to operate the bank accountsthereof. |

|           |                                                                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.5  | The obligations of theParties in respect of Completion are interdependent and all actions atCompletion will be deemed to take placesimultaneously. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.6  | FollowingCompletion Resolute undertakes to Randgold Resources to use allreasonable endeavours to ensure that Randgold Resources and all of itsRelated Bodies Corporate are released from the guarantees, or lettersof comfort given or incurred by it which relates in whole or part todebts or other liabilities or obligations, for a maximum amount as at30 April 2004 of US$1,677,172.00 to the Banque du Developpement du Maliand for a maximum amount as at 30 April 2004 of US$1,340,773.00 toRolls Royce Power Ventures of Somisy S.A. and prior to such releaseResolute undertakes to Randgold Resources to keep Randgold Resourcesand each of its Related Body Corporate indemnified against any failureto make any such repayment or any interest accruing from 30 April 2004to the Completion Date and any increase in liability arising under anysuch guarantee or, letter of comfort after the Completion Date. |

6

----

|          |         |
|----------|---------|
| 4.  | ROYALTY |

|           |                                                                                                                                                                                      |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.1  | Resoluteundertakes to pay to Randgold Resources the Royalty by electronictransfer to the Randgold Resources' Account on each Quarter Datecalculated in accordance with thisDocument. |

|           |                                                                                                                                                                                                                                                                                              |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.2  | In the event that duringeach Calendar Quarter, the Average Gold Price exceeds US350 per ounce,the Royalty payable in respect of such Calendar Quarter (the**"Relevant Calendar Quarter")** shall becalculated in accordance with the following formula, and otherwisecapped at US$25million: |

|                    |  |             |  |        |        |        |  |                                                                                                                                                                                             |  |  |  |  |  |  |
|--------------------|--|-------------|--|--------|--------|--------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
|               |  | Royalty     |  |   | =      |   |  | Quantityx Royalty Rate x80%                                                                                                                                                                 |
|   where: |  |        |  |   |   |   |  |                                                                                                                                                                                        |
|               |  | Quantity    |  |   | =      |   |  | Thenumber of ounces of gold produced during each Relevant Calendar Quarterfrom the Syama Gold Mine (each ounce of gold produced during eachRelevant Calendar Quarter being an"Ounce".       |
|               |  | RoyaltyRate |  |   | =      |   |  | US$10 per ounce for the first 1 million Ouncesof gold produced and which is attributable to Randgold Somisy's80% interest in Somisy S.A. ;and                                               |
|               |  |        |  |   |   |   |  | US$5per ounce for each Ounce of gold produced (and which is attributable toRandgold Somisy's 80% interest in Somisy S.A.) in excessof 1 million Ounces up to and including 4 millionOunces. |
|                    |

|           |                                                                                                                                                                                                                                                                                                                                       |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.3  | Resoluteshall, upon written request from Randgold Resources, give RandgoldResources full records of the gold produced by Somisy S.A. from theSyama Gold Mine. If there is a dispute related to the calculation ofthe Royalty payable under clause 4 of this Document, the Parties mayrefer the dispute to arbitration under clause15. |

|           |                                                                                                                                                                                                                                                                                                                                                                  |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.4  | The Parties undertake that ifthe London PM fix US$ spot gold price quoted on the London MetalsExchange ceases to be published, the Average Gold Price shall becalculated by reference to such other index as may be specified by suchindependent bank of international standing in the gold market as may bejointly nominated by Randgold Resources andResolute. |

|           |                                                                                                                                                                                                                                                                                                           |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.5  | For the purposes ofclause 4.4 of this Document, if Resolute does not nominate itssuggested independent bank nominee to Randgold Resources within 7 daysof a written request to do so from Randgold Resources, then RandgoldResources may solely nominate an independent bank as required underclause 4.4. |

|          |            |
|----------|------------|
| 5.  | WARRANTIES |

|           |                                             |
|-----------|---------------------------------------------|
| 5.1  | RandgoldResources warrants to Resolutethat: |

|        |     |                                                                                                                                                                                                                                                                            |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (1) | in thecourse of the due diligence exercise referred to in the Heads ofAgreement Randgold Resources disclosed to Resolute all facts andcircumstances reasonably likely to be material to Resolute as a partyacquiring an interest in Randgold Somisy or the Syama GoldMine; |

|        |     |                                                                                                                                                                |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | theaudited financial statements of Randgold Somisy and Somisy S.A. as at31 December 2001, 2002 and 2003 are in all material respects bothcomplete andaccurate; |

|        |     |                                                                                                                                                                                                                                                               |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | otherthan the information which has been disclosed during the course of thedue diligence exercise referred to in the Heads of Agreement, there hasbeen no material adverse change affecting the Syama Gold Mine prior tothe Resolute's exercise of theOption; |

|        |     |                                                                                                                                                                                                                                                                                                                                                                      |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (4) | allinformation, including (without limitation) financial, legal andtechnical information concerning the Syama Gold Mine, Somisy S.A. andRandgold Somisy, given to Resolute during the course of the duediligence exercise referred to in the Heads of Agreement, is in allmaterial respects to the best of Randgold Resource's knowledge,both complete and accurate; |

7

----

|        |     |                                                                                                                                                                                                                                                                                                                                               |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (5) | saveas disclosed in writing to Resolute, Somisy S.A. is not a party to anyagreement, arrangement or understanding which is subject to pre-emptiverights or change of control provision, which would materially affectthe value of Somisy S.A. and the Syama Gold Mine on the acquisition byResolute of an interest in the Syama Gold Mine;and |

|        |     |                                                                                                                                                                                                                                 |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (6) | RandgoldResources has disclosed in writing to Resolute, all facts andcircumstances material to this Document and which would be material orwould be reasonably likely to be material to a purchaser in theposition of Resolute. |

|           |                                                                                                                                                                                                                                                                                                                                                                              |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.2  | Save in thecase of any liability based upon fraud or fraudulent concealment byRandgold Resources, Randgold Resources shall not be liable in respectof a claim under the Warranties unless written notice of such claimsettling out reasonable details of the relevant claim is served uponRandgold Resources by no later than 5:00pm on the second anniversary ofCompletion. |

|           |                                                                                                                                                                                                                          |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.3  | Save in the case offraud or fraudulent concealment the aggregate liability of RandgoldResources in respect of all claims under this Document and the Heads ofAgreement shall not in any circumstances exceed$25,000,000. |

|           |                                                                                                                                                                                                                                                                                                                             |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.4  | Resolute will take orprocure the taking of all such reasonable steps as are required by lawin order to mitigate any claim under this Document and the Heads ofAgreement. Nothing in this Document shall or shall be deemed to relieveResolute of any common law or other duty to mitigate any loss or damageincurred by it. |

|           |                                                                                                                                                                                                                                                                                                                                                              |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5.5  | Resolute covenantsand agrees that neither it nor any of its Related Body Corporates havebeen induced to enter into any Transaction Document in reliance upon,any warranty, representation, statement, assurance, covenant,agreement, undertaking, indemnity or commitment whether express orimplied, written or oral, or of any nature whatsoever otherthan: |

|        |     |                                                      |
|--------|-----|------------------------------------------------------|
|   | (1) | aWarranty referred to in clause 5.1 of thisDocument; |

|        |     |                                                                                                                                                           |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | awritten representation, statement, assurance, or agreement contained inor given pursuant to a Warranty made or given under clause 5.1 of thisDocument;or |

|        |     |                                                                                                                                         |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | an expresswritten representation, statement, assurance, agreement, indemnity orcommitment contained or given in the Heads of Agreement. |

|          |                 |
|----------|-----------------|
| 6.  | CONFIDENTIALITY |

|           |                                                                                                                                                                                                                                                          |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 6.1  | EachParty is to keep confidential the terms of this Document, and any otherConfidential Information obtained in the course of furthering thisDocument, or during the negotiations preceding this Document, and isnot to disclose it to any personexcept: |

|        |     |                                                                                                                        |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|
|   | (1) | toemployees, legal advisers, auditors and other consultants requiring theinformation for the purposes of thisDocument; |

|        |     |                                    |
|--------|-----|------------------------------------|
|   | (2) | withthe consent of the otherParty; |

|        |     |                                                                                                                                                                      |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (3) | if theinformation is, at the date of this Document, lawfully in thepossession of the recipient of the information through sources otherthan any of the otherParties; |

|        |     |                                                                |
|--------|-----|----------------------------------------------------------------|
|   | (4) | ifrequired by law or a stock exchange or other regulatorybody; |

|        |     |                                                                                                   |
|--------|-----|---------------------------------------------------------------------------------------------------|
|   | (5) | ifstrictly and necessarily required in connection with legal proceedingsrelating to thisDocument; |

|        |     |                                                                                                          |
|--------|-----|----------------------------------------------------------------------------------------------------------|
|   | (6) | ifthe information is generally and publicly available other than as aresult of a breach of confidence;or |

|        |     |                                                                     |
|--------|-----|---------------------------------------------------------------------|
|   | (7) | to afinancier or prospective financier (or its advisers) of aParty. |

|           |                                                                                                                                                                                                                                   |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 6.2  | A Party disclosingConfidential Information must use all reasonable endeavours to ensurethat persons receiving Confidential Information from it do not disclosethe information except in the circumstances permitted in clause6.1. |

8

----

|          |                    |
|----------|--------------------|
| 7.  | DEFAULT BYRESOLUTE |

|           |                                                                                                                                                                                                                                                                                                                                                                          |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 7.1  | If Resolute fails toComplete, other than as a result of default by Randgold Resources,Randgold Resources may give Resolute notice requiring it to completewithin 14 days of service of the notice. If Resolute fails to Completewithin that period, Randgold Resources may at its election proceed forspecific performance or terminate this Document and in eithercase: |

|        |     |                                                        |
|--------|-----|--------------------------------------------------------|
|   | (1) | RandgoldResources may seek damages for the default;and |

|        |     |                                                                                             |
|--------|-----|---------------------------------------------------------------------------------------------|
|   | (2) | RandgoldResources is entitled to retain the Deposit and any interest accrued onthe Deposit. |

|           |                                                                                                                 |
|-----------|-----------------------------------------------------------------------------------------------------------------|
| 7.2  | Nothing in this clauseaffects any other rights Randgold Resources may have against Resoluteat law or in equity. |

|          |                              |
|----------|------------------------------|
| 8.  | DEFAULT BY RANDGOLDRESOURCES |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 8.1  | If Randgold Resourcesfails to Complete, other than as a result of default by Resolute,Resolute may give Randgold Resources notice requiring it to Completewithin 14 days of service of the notice. If Randgold Resources fails toComplete within that period, Resolute may at its election proceed forspecific performance or terminate this Document and in either caseResolute may seek damages for thedefault. |

|           |                                                                                                                 |
|-----------|-----------------------------------------------------------------------------------------------------------------|
| 8.2  | Nothing in this clauseaffects any other rights Resolute may have against Randgold Resourcesat law or in equity. |

|          |                     |
|----------|---------------------|
| 9.  | COSTS AND STAMPDUTY |

|           |                                                                                                                                                                      |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 9.1  | Subject to clause 9.2, eachParty must bear its own legal and other costs and expenses of andincidental to the preparation, execution and completion of thisDocument. |

|           |                                                                                                                              |
|-----------|------------------------------------------------------------------------------------------------------------------------------|
| 9.2  | Resolute must bear allstamp duty payable or assessed in relation to this Document and thetransfer of the Shares to Resolute. |

|           |         |
|-----------|---------|
| 10.  | NOTICES |

|            |                                                                                                       |
|------------|-------------------------------------------------------------------------------------------------------|
| 10.1  | Anotice, approval, consent or other communication in connection withthis Document: must be inwriting; |

|        |     |                   |
|--------|-----|-------------------|
|   | (1) | mustbe inwriting. |

|        |     |                                                                                                                                                                                                                                                                                                                     |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | mustbe left at the address of the addressee or sent by prepaid ordinarypost to the address of the addressee or sent by facsimile to thefacsimile number of the addressee which is specified in this clause orif the addressee notifies another address or facsimile number then tothat address or facsimile number: |

The address andfacsimile number of each party are:

|        |                                                                           |
|--------|---------------------------------------------------------------------------|
|   | RandgoldResources LimitedMr Roger WilliamsLa Motte ChambersLaMotte Street |

|        |                                                                 |
|--------|-----------------------------------------------------------------|
|   | St HelierJersey JE11BJChannel IslandsFacsimile: 44 1534 735 444 |

|        |                                                                                                                               |
|--------|-------------------------------------------------------------------------------------------------------------------------------|
|   | Resolute Mining LimitedMr PeterSullivan4th Floor, The BGC Centre28 The EsplanadePerthWestern AustraliaFacsimile: 618 93227597 |

9

----

|            |                                                                                                                                   |
|------------|-----------------------------------------------------------------------------------------------------------------------------------|
| 10.2  | A notice,approval, consent or other communication takes effect from the time itis received unless a later time is specified init. |

|            |                                              |
|------------|----------------------------------------------|
| 10.3  | A letter or facsimile is takento bereceived: |

|        |     |                                                               |
|--------|-----|---------------------------------------------------------------|
|   | (1) | inthe case of a posted letter, on the third day afterposting; |

|        |     |                                                                                                                                                                                                                     |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | inthe case of facsimile, on production of a transmission report by themachine from which the facsimile was sent which indicates that thefacsimile was sent in its entirety to the facsimile number of therecipient. |

|           |                 |
|-----------|-----------------|
| 11.  | ENTIREAGREEMENT |

|            |                                                                                                                                                                                                                                    |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 11.1  | Each Party on behalf ofitself and as agent for each of its Related Body Corporate acknowledgesand agrees with the other Party (each such Party acting on behalf ofitself and as agent for each of its Related Body Corporate)that: |

|        |     |                                                                                                                                                                                                                                                                                                                                                           |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (1) | thisDocument together with any other documents including without limitationthe Heads of Agreement referred to in this agreement (together hereincalled the **"Transaction Documents")**constitute the entire and only agreement between the Parties andtheir respective Related Body Corporate relating to the subject matterof the TransactionDocuments; |

|        |     |                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (2) | theonly remedies available to it in respect of the Transaction Documents(and, where appropriate, to its Related Body Corporate) are damages forbreach of contract and, for the avoidance of doubt, neither it (nor itsRelated Body Corporate, where appropriate) have any right to rescind orterminate any Transaction Documents either for breach of contract orfor negligence or innocent misrepresentation or otherwise; |

|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | PROVIDED THAT the provisions of this clause 11shall not exclude any liability which either Party or, whereappropriate, its Related Body Corporate would otherwise have to theother Party or, where appropriate, to the other Party's RelatedBody Corporate or any right which any of them may have to rescind thisDocument in respect of any statements made fraudulently by any of themprior to the execution of this Document or any rights which any of themmay have in respect of fraudulent concealment by any ofthem. |

|            |                                                                                                                                                            |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 11.2  | In the event of anyinconsistency between the wording of this Document and the wording ofthe Heads of Agreement, the wording of this Document will prevail. |

|           |               |
|-----------|---------------|
| 12.  | MISCELLANEOUS |

|            |                                                                 |
|------------|-----------------------------------------------------------------|
| 12.1  | Aprovision of or a right created under this Document may notbe: |

|        |     |                                                                     |
|--------|-----|---------------------------------------------------------------------|
|   | (1) | waived,except in writing signed by the Party granting the waiver;or |

|        |     |                                               |
|--------|-----|-----------------------------------------------|
|   | (2) | variedexcept in writing signed by theParties. |

|            |                                                           |
|------------|-----------------------------------------------------------|
| 12.2  | The Warranties in thisDocument do not merge onCompletion. |

|            |                                                                                                                                                                                                                                                                                                                |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 12.3  | Each Party agrees, atits own expense, on the request of the other Party, to do everythingreasonably necessary to give effect to this Document and thetransactions contemplated by it (including the execution of documents)and to use all reasonable endeavours to cause relevant third parties todo likewise. |

|            |                                                                                                                                                                                                                                                                                                                              |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 12.4  | A Party may not makepress or other announcements or releases relating to this Document andthe transactions the subject of this Document without the approval ofthe other party to the form and manner of the announcement or releaseunless that announcement or release is required to be made by law or bya stock exchange. |

|           |            |
|-----------|------------|
| 13.  | ASSIGNMENT |

|            |                                                                                                                                                                             |
|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 13.1  | Subjectto the provisions of this clause 13, neither Party may assign thebenefit of all or any of the other Party's obligations or anybenefit it enjoys under this Document. |

10

----

|            |                                                                                                                                                                                                                                                         |
|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 13.2  | IfRandgold has received a written offer (the**"Offer")**which it intends to acceptand therefore wishes to assign the benefit of the Royalty, Randgoldshall first serve a written notice (the **"RoyaltyNotice")**on Resolute. The Royalty Notice shall: |

|        |     |                                                                                                                                                    |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (a) | Notify Resolute of theterms and the price (the **"Royalty Price")**at which the third party has offered to purchase the benefit of theRoyalty; and |

|        |     |                                                                                                                                                                                                                                 |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | (b) | Irrevocably offerResolute the opportunity to unconditionally purchase the benefit of theRoyalty for the Royalty Price and subject to clause 13.4 on terms whichare the same as the terms of the Offer (the **"RoyaltyOffer").** |

|            |                                                                                                                                                                                                                                                                                                                          |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 13.3  | Within 7days of receipt of the Royalty Notice by Resolute, Resolute shall beentitled either to accept or decline the Royalty Offer. In the eventthat Resolute does not respond to the Royalty Offer in writing within 7days of receipt of the Royalty Offer, Resolute shall be deemed to havedeclined the Royalty Offer. |

|            |                                                                                                                                                                                                           |
|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 13.4  | In theevent that Resolute accepts the Royalty, it shall have a period of 60days from the date of acceptance or the period specified in the RoyaltyOffer whichever is the longer, to pay the RoyaltyPrice. |

|            |                                                                                                         |
|------------|---------------------------------------------------------------------------------------------------------|
| 13.5  | If Resolute declines or isdeemed to have declined the Royalty Offer, then Randgold may accept theOffer. |

|           |                   |
|-----------|-------------------|
| 14.  | THIRD PARTYRIGHTS |

|            |                                                                                                                                                                                                                                                                                |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 14.1  | Any person (other than theParties) who is given any rights or benefits under clause 13 and 14 ofthis Document (a **"Third Party")**shallbe entitled to enforce those rights or benefits against the Parties inaccordance with the Contracts (Rights of Third Parties) Act1999. |

|            |                                                                                                                           |
|------------|---------------------------------------------------------------------------------------------------------------------------|
| 14.2  | Save as provided in clause14.1 above the operation of the Contracts (Rights of Third Parties) Act1999 is hereby excluded. |

|            |                                                                                                                                                                                                                                                                             |
|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 14.3  | TheParties may, amend, vary or terminate this Document in such a way asmay affect any rights or benefits of any Third Party which are directlyenforceable against the Parties under the Contracts (Rights of ThirdParties) Act 1999 without the consent of such ThirdParty. |

|            |                                                                                                                                                                                                                                                                                                                            |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 14.4  | Any Third Party entitledpursuant to the Contracts (Rights of Third Parties) Act 1999 to enforceany rights or benefits conferred on it by this Document may not vetoany amendment, variation or termination of this Document which isproposed by the Parties and which may affect the rights or benefits ofthe Third Party. |

|           |              |
|-----------|--------------|
| 15.  | GOVERNINGLAW |

|            |                                                                                                                                                                                                                                                                                  |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 15.1  | This Document (and anydispute, controversy or claim of whatever nature arising out of or inconnection with this Document, including any question regarding itsexistence, validity or termination (a**"Dispute")**shall be governed by anconstrued in accordance with Englishlaw. |

|            |                                                                                                                                                                                                                   |
|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 15.2  | Any Dispute shall be referredto and finally resolved by a sole arbitrator under the LCIA (LondonCourt of International Arbitration) Rules, which Rules are deemed to beincorporated by reference into thisclause. |

|            |                                                                                                                                          |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| 15.3  | The seat, or legal place,of arbitration shall be London, England and the language to be used inthe arbitral proceedings shall beEnglish. |

|            |                                                                                                                                          |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| 15.4  | The costs incurred inconnection with any arbitration shall be borne by the unsuccessfulparty unless the arbitrator determines otherwise. |

11

----

**IN WITNESS**whereof this agreementhas been executed on the date specified on page one of thisDocument.

|                               |  |        |        |         |  |        |                               |        |  |  |
|-------------------------------|--|--------|--------|---------|--|--------|-------------------------------|--------|--|--|
| SIGNEDBY FOR AND ON BEHALFOF) |  |   |        | )  |  |
| **RANDGOLDRESOURCESLIMITED:** |  |   | )))    |    |  |
| /s/Roger A. Williams          |  |   |   |    |  |   | /s/ Dennis MarkBristow        |   |
| Signature of authorisedperson |  |   |   |    |  |   | Signature of authorisedperson |   |
| FinanceDirector               |  |   |   |    |  |   | Chief ExecutiveOfficer        |   |
| Officeheld                    |  |   |   |    |  |   | Office held                   |   |
| Roger A.Williams              |  |   |   |    |  |   | Dennis MarkBristow            |   |
| Name of authorisedperson      |  |   |   |    |  |   | Name of authorisedperson      |   |
| SIGNED BY FOR AND ONBEHALF OF |  |   |        | )  |  |
| **RESOLUTE MININGLIMITED:**   |  |   | )))    |    |  |
| /s/Peter Sullivan             |  |   |   |    |  |   | /s/ GregFitzgerald            |   |
| Signature of authorisedperson |  |   |   |    |  |   | Signature of authorisedperson |   |
| Director                      |  |   |   |    |  |   | CompanySecretary              |   |
| Officeheld                    |  |   |   |    |  |   | Officeheld                    |   |
| PeterSullivan                 |  |   |   |    |  |   | GregFitzgerald                |   |
| Name of authorisedperson      |  |   |   |    |  |   | Name of authorisedperson      |   |
|                               |

12

----