2013/01/25
1
Loulo – Gounkoto mine complex
Mali January 2013
Introduction…
1. INTRODUCTION (C. BERTHE-General Manager)
2. EXPLORATION WEST AFRICA ( Joe Holliday - RRL Exploration West Africa)
3. EXPLORATION LOULO COMPLEX (Analia - RRL Exploration )
4. RESOURCES AND RESERVES (A. FAMANTA - Mineral Resources Manager)
5. SHE (M.Kanta - SHE Manager)
6. MINING OPEN PIT (T. Frempong- Open Pit Manager)
7. MINING UNDERGROUND (M. TOURE - Underground Manager)
8. 5 YEAR MINING CAPACITY (G. Lawrie – Operations Manager )
9. PROCESSING (D. ARAMA - Process Manager)
10.ENGINEERING (A. COULIBALY - Engineering Manager )
11.CAPITAL PROJECT (A. SALON - Capital Project Manager )
12.LOGISTIC and SUPPLY ( C. KONARE - Supply Chain Manager)
13.QUESTIONS
2013/01/25
2
Location of mines …Loulo and Gounkoto
Loulo & Gounkoto
Permits
Senegal
Mali
1981…Syndicat Or (JV BRGM + DNGM) discovered Loulo-0 deposit;
1989…Somilo was created in purpose to mine Loulo-0 deposit;
1992…BHP- Minerals Mali Inc. Acquired BRGM shares in Syndicat Or;
1996..Randgold Resources aquired BHP Minerals Mali Inc in Aug;
1996…Yalea discovery Trench excavated in November increasing total
resources to + 3.0 million ounces;
1997…Randgold submitted the feasibility study.
1999…Mining permit granted;
2003…Randgold updated the feasibility study followed by the Board approval
2004…Construction commences;
2005…Opening of Loulo gold mine in November 12th;
2005…UG Feasibility approval in December
2006…Commenced UG development
2009…Gounkoto deposit discovered;
2010…Gounkoto was Incorporated as a separate Mining Company
Loulo history…
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3
Complex Cumulative Profit from Mining Activity
Loulo Complex…Production Statistics
121 132 179 652 297 357 438 074 702 229 1 006 873
121 132 58 520 117 705 140 717 264 155 304 644
0
200 000
400 000
600 000
800 000
1 000 000
1 200 000
2005/2007 2008 2009 2010 2011 2012
9
Months
Yalea South OC pushback Started on time during 2012 and will be
completed February 2013
Mining Gounkoto
Mining at Gounkoto reached steady state during
2012 and continues to produce 50% + of ore for
the Mill
Purple Patch
At the last analyst visit announced the top of the
purple patch had been exposed and during 2012
stoping of the purple patch commenced as per
plan
Gara ore development April 2011 Full out stoping during 2012
Yalea development and stoping progress
During 2012 Yalea managed to consistently
produce more than 100 000ore tonnes and
1000m per month
New UG design
New design improved and implemented. Now
multiple declines with reduced waste
development
Pillar and pastefill mining
New design implements for pillar mining at 73%
extraction and 100 % extraction where paste fill
will be implemented
ANALYST PRESENTATION SCORECARD
Requirement…Jan 2012 (1/2)
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4
Gara development and stoping profile
During 2012 Gara encountered difficulties when we
encountered flat dipping ore bodies which we were
unable to mine with our existing design. This resulted
in production profiles not being met, but well on our
way to resolving this issue
CAF
Has been introduced to allow secondary high grade
stopes to be mined prior to the implementation of
pastefill
600 000to 650 000 oz production profile
over next 8 years
New production profile 600 000 to 750 000 oz profile
next 5 years
Metworx introduced in plant during 2011 Fully implemented on the plant and is now being
introduced to the UG mining sections
Third mill installation
Third mill commissioned early in 2012 and has
created huge flexibility in the plant in terms of
increasing through put
HFO introduction to reduce power cost Construction underway for the implementation of this
project
ANALYST PRESENTATION SCORECARD
Requirement…Jan 2012 (2/2)
Loulo…fiscal regime and financing
3 years Exemption from TVA ended in November 2008
3 years duties holiday ended in November 2008
5 years income tax holiday ended in November 2010
Fuel exonerated from duty for LOM
6% royalty on revenue
20% Government participatory shareholding, 100% funded by
Randgold Resources
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Gounkoto…fiscal and financial regimes
Gounkoto convention signed on 21 March 2012
3 years exemption from VAT starting from 1 June 2011
3 year duties holiday
2 year exemption from corporate tax - further extensions for 5
years in the event of additional capital investments
Fuel exonerated from duty for LOM
6% royalty on revenue
20% Government participatory shareholding, 100% funded by
Randgold Resources (10% priority dividend)
First dividend (US$ 69 million) paid in July 2012 and second
dividend (US$ 69 million) paid in November 2012
Loulo contribution to Mali economy…
from inception to Q3 2012
99
129
708
Royalties
Direct and
Indirect taxes
Payment to
local suppliers,
local salaries.
Community
investment
Total payment US$ 0.9 billion
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Exploration…
West Africa Craton
Gold mines
Birimian Basinal sediments
Birimian Belt
Proterozoic Plutonic Rocks
Mali Burkina
Faso
Ivory Coast
Ghana
Senegal
Youga
Yatela
Sadiola
Yalea
Gara
Sabodala
Morila
Syama
Tongon
Ity
Bonikro
Prestea
Chirano
Bibani
Ahafo
Akyem
Obuasi
Damang
Tarkwa
Essakane
Mana
Kalsaka
Taparko
Inata
Lefa
Tabakoto Massawa
Kalana
Gounkoto
Gold mines
Birimian Basinal sediments
Birimian Belt
Proterozoic Plutonic Rocks
Siguiri
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Kedougou Kenieba Inlier…
Andesite
Andesite
Basalt
Clastic Metasediments
Granitoids
Limestone
Metasediments
QT
Volcaniclastics
Metasediments/volcanics
Dalema - Kofi
Diale - Keniebandi
Mako - Saboussire
Randgold Resources permits
!
!
!
!
!
!
!
SM
SZ
SENEGAL MALI
Yatela
Sadiola
Gara
Yalea
Sabodala
100 km
Massawa Segala
Tabakoto
Gounkoto
Millenium Highway
Loulo district…
a proven world class destination
Analytical signal Airborne EM Geology Geochemistry
N
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Gravity
Isosurfaces
GARA
Loulo 3
YALEA
Gounkoto
Faraba
Image shows NS linear on
gravity links Yalea and
Gounkoto
Structure associated with
break in the density values
New generative study
including prospectivity
analysis highlights new
targets
Loulo district…exploration adds further
resolution to the regional model Baboto
N
Loulo…Yalea upside
Yalea Long section looking W
N
100m
YDH259
5.2m @ 8.11g/t
Incl 1.9m @ 17.24g/t
YDH258
8.6m @ 0.22g/t
YDH263
16.7m @ 11.11g/t
YDH264
14.7m @ 18.02g/t
YDH261
11.8m @ 3.09g/t Au (g/t)
>8 5 – 8 3 – 5 1 – 3
0.5 – 1
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Planned UG infill & Deep DDH
Mined out pit
Measured surface
Inferred surface
Looking East
Gara…upside
Pending
Infill hole Pending
Infill hole Pending
Infill hole
Pending
Infill hole
Pending
Infill hole
Deep
hole Deep
hole
Deep
hole
Au (g/t)
>8 5 – 8 3 – 5 1 – 3
0.5 – 1
Loulo permit…Loulo 3
Loulo District exploration generates pipeline of multiple
targets for future growth:
10 targets tested, 8 rejected and 2 advanced (Iron Hill
and Yalea Ridge South)
Loulo 3 Main Zone with Q2 drill intersections
IRON HILL 9m @ 2.40g/t
incl 1m @ 8.90g/t
5m @ 3.47g/t
incl 2m @ 7.72g/t
200m
Loulo permit showing Loulo 3 and new Iron Hill and Yalea Ridge S targets
YALEA RIDGE S
L3DH109
25.1m @ 5.73g/t
L3DH111
14.13m @ 3.48g/t
L3DH104
7.64m @ 2.46g/t
L3DH105
23.12m @ 1.29g/t
L3DH106
12.15m @ 1.57g/t
L3DH107
7.9m @ 2.05g/t
L3DH108
1.6m @ 9.39g/t
Au (g/t)
>8 5 – 8 3 – 5 1 – 3
0.5 – 1
GARA
LOULO 3
YALEA
N
5km
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Loulo Permit…
Baboto target shows potential
Soil
250ppb
100ppb
50ppb
25pb
structure
Baboto North inferred
154 939 oz @ 1.60g/t
Baboto Centre inferred
43 375oz @ 1.39g/t
Baboto South indicated
154 525 oz @ 3.41g/t
GARA
LOULO 3
YALEA
BABOTO
Reserve definition
Indicated Resource
Inferred Resource
Advanced Target
Follow up Target
Identified Target
Generative Target
Legend
Q3 Prioritized Target
Farandi South NNE structure which is the continuity of
Farandi structure with crosscut NS
shear.
PA P1 North Yalea structure turn from NS to NNW
and is crosscutter by NE structure
passing by PQ10 and Baboto south.
Loulo1 East Yalea ridge structure intersect Yalea
structure to the east of Loulo1 and a
major NE crosscut both.
Detailed regolith/geology completed
P125 NE NNE structure // to Yalea structure
composed of strongly sheared quartzite
which regional RAB with anomalous
values around P125.
Yalea Ridge south NNE trend structure probably located in
the anticline hinge of regional fold.
Goldfinger fold Hinge zone of parallel NE of
transpressional fold along a NNE axis
and NNW strike-slip deformation.
Goldfinger East NE structure intersecting Conjugate
Thrust NE and NW at the lithological
boundary.
8
Gara South NNE structure (continuity of Gara)
Anomalous lithosamples only tested by
regional RAB.
7
Iron Hill NS structure in the contact limestone
/intrusive identified in RC drilling.
Detailed regolith/geologycompleted
2
FarNW NNW structure identified in previous
RAB following an elongate soil anomaly.
Detailed regolith/geology completed
4
10
1
3
6
9
5
Loulo permit…target prioritisation
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Gounkoto exploration…
Gounkoto history…
2009 - 7 diamond drill holes were drilled and confirmed Gounkoto
as a significant new discovery
2010 - Gounkoto was Incorporated 21 Dec
2010 - ESIA approved by the government 06th December
2010 - Mine construction started in November
2011 - Mining operations started 19 Jan
2011 - Implementation of toll treatment agreement 1 Jun
2011 - First gold poured 8 Jun
2012 - Capital paid back after one year production in Q2 2012
2012 - Successful opening of the mine 6 Aug 2012
2012 - First dividend of US$69m paid to the Shareholders in July
2012 – Second dividend of US$69m paid in Nov 2012
2013/01/25
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Schematic representation of the planned pit positions at the end of 2013…
Gounkoto pit at end 2013
20RL 120RL
105RL
0RL Gounkoto pit at end 2012
Underground
potential Resource: 4.62 Moz @ 4.65 g/t
Reserve: 2.76 Moz @ 5.06 g/t
Gounkoto deposit…
1,720m 3
00
m
>8 5 – 8 3 – 5 1 – 3
0.5 – 1
2013/01/25
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Gounkoto…Grade/tonnage reconciliation
confirms original orebody model
Tonnes Grade Ounces
Original
Resource Model
Grade Control
Block Model
Actual
Tonnes 000s Grade g/t Oz 000s
Gounkoto contribution to Mali economy…
from inception to Q3 2012
36
12
23 110
US$ million
Royalties
Direct and
Indirect taxes
Payment to
local suppliers,
local salaries.
Community
investment
Total payment US$ 0,18 billion
Dividends paid
2013/01/25
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GK JZ MZ2 LongSection Looking West onto Oct2012 BM, Indicated Surface & $ 950 Pit
Shell
50m
-
400
m
0m
-
600
m
Gounkoto underground potential…
Jog Zone MZ2
GKDH325
13.10m @ 5.53g/t
GKTWDH14
14.30m @ 9.69g/t
GKDH220
25.8m @ 19.85g/t
and
6.20m @ 1.66g/t
GKTWDH12
19.05m @ 11.33g/t
GKDH227
18.90m @ 3.83g/t
GKDH353
12.20m @ 6.46g/t GKDH244
7.80m @ 0.93g/t
GKDH087
31.35m @ 6.04g/t
Au (g/t) >8
5 – 8 3 – 5 1 – 3
0.5 – 1
GKDH323
1.70m @ 30.54g/t
GKDH282
1.60m @ 3.41g/t
GKDH322
2.00m @ 2.76g/t
GKDH288
7.60m @ 9.73g/t
GKDH352
40.8m @ 12.68g/t
GKDH330
3.70m @ 17.74g/t
GKDH348
32.40m @ 6.51g/t
GKDH351
55.50m @ 5.81g/t
GKDH289
17.20m @ 6.31g/t GKDH347
4.30m @ 0.81g/t
GK MZ3 LongSection Looking West Onto Oct2012 BM, Indicated Surface
& $ 950 Pit Shell
-400m
0m
-600m
-200m
Gounkoto underground potential…
Jog Zone MZ3
GKDH291
14.10m @ 1.65g/t
GKDH271
31.70m @ 23.91g/t
GKDH290
30.60m @ 17.21g/t
GKTWDH16
85.45m @ 7.87g/t
GKDH217
27.20m @ 3.14g/t
and
21.50m @ 1.85g/t
GKDH320
91.50m @ 3.43g/t
GKDH329
50.85m @ 1.70g/t
GKDH328
12.60m @ 6.00g/t
GKDH322
11.90m @ 5.06g/t
GKDH106
21.00m @ 10.34g/t
Au (g/t)
>8 5 – 8 3 – 5 1 – 3
0.5 – 1 50m
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Deposits with underground potential require an interface analysis
OP – UG interface…
Jog zone and
underground target
$/oz shell Ore tonnes Waste
tonnes Strip Ratio
Incremental
Cost
increase
$/ore t
increase
950 16 893 743 161 684 304 9.57 (22 132 116) -49.12
1000 17 376 549 172 992 491 9.96 (39 759 744) -82.35
1050 17 882 280 184 286 075 10.31 (38 618 610) -76.36
1100 18 342 697 195 342 907 10.65 (39 276 250) -85.31
1150 21 415 925 281 779 849 13.16 (315 482 403) -102.66
Au (g/t)
>8 5 – 8 3 – 5 1 – 3
0.5 – 1
Gounkoto underground prefeasibility…
Potential for 1Moz at 6g/t below the pit
Drilling underway to confirm geological model and convert remaining inferred to indicated
Geotechnical review complete – no fatal flaws, but do need to deal with poor ground conditions in host rocks
Busy with initial hydrological review.
Current concept has us prioritising the southern pit with a decline commencing from pit to open up the jog zone underground, and then integrate the lower grade northern portion of the open pit and Faraba with high grade sweetener from underground.
Underground production rate likely to be limited by backfill rate – currently looking at CAF or CRF options.
Current timeline - busy with prefeasibility which we expect complete in Q1 2013. Feasibility complete by end of 2013 and decline to start in 2014 with plan to supplement open pits by 2016.
Loulo Permit
Gounkoto Permit
Gara
Loulo Plant Loulo 3
Yalea
Gounkoto
Faraba
2013/01/25
16
Toronto Advanced target
P64 Inferred resource
60 000oz @ 2.8g/t
Gounkoto 5.07Moz @ 4.23g/t
Potential for
1 Moz underground
Faraba Inferred resource
335 000oz @ 2.11g/t
Identified target
Existing deposit
Gounkoto Permit.. anomalies and targets
N
Gounkoto Permit…upside
Ground IP gegophsics, seeing below transported river alluvium
Mineral Resources…
2013/01/25
17
0.5 - 1.0 g/t
1.0 - 3.0 g/t
3.0 - 5.0 g/t
5.0 - 8.0 g/t
> 8.0 g/t
90
0m
Reserves…4.09 Moz @ 5.48 g/t
Resources…6.29 Moz @ 4.89 g/t
Loulo complex resources and reserves…
Yalea deposit
0.5 - 1.5 g/t
1.5 - 4.0 g/t
4.0 - 6.0 g/t
> 6.0 g/t
75
0m
Loulo complex resources and reserves…
Gara deposit…
Reserves…1.98 Moz @ 4.59 g/t
Resources…3.12 Moz @ 4.04 g/t
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18
<0.5
0.5 to 1
1 to 3
3 to 5
5 to 10
≥10.
GRADE (g/t)
500m
Loulo complex resources and reserves…
Gounkoto deposit
Reserve…2.76 Moz @ 5.06 g/t
Resource…4.62 Moz @ 4.65 g/t
Health, Safety and Environment…
2013/01/25
19
Occupational health and Safety Management System implemented as
per OHSAS 18001 requirements
OHSAS 18001 Certification audit was conducted by NQA in Q3-2012
the mine has been recommended for the certification.
ISO 14001 certification maintained Dec 2012
Community development strategies based on:
Primary health care
Basic education
Potable water
Food security
Economic development
Safety, Health and Environmental…
Safety, Health and Environmental…
0
0.5
1
1.5
2
2.5
3
3.5
4
2006 2007 2008 2009 2010 2011 Q1-2012 Q2-2012 Q3 2012
Safety Statistics and Trend
LTIFR/Million Hrs( Incl FI) FIFR/Million Hrs
Linear (LTIFR/Million Hrs( Incl FI))
2013/01/25
20
Open Cast Mining…
Schematic representation of the planned pit
positions at the end of 2013…
-25 RL
-20 RL
Gounkoto pit at end 2013
105RL
0RL
Yalea South pit at end 2013
2013/01/25
21
Underground Mining…
Yalea Stoping in the Purple Patch commenced December 2012
Continuous improvement of development since Quarter 4’ 2010
Commissioning 88Level ore and waste passes system improving
ore and waste handling system
Yalea phase two ventilation commenced, introducing independent
blasting between Yalea Nth and Yalea Somilo section
Gara Primary ventilation phase two completed
Introduction of the Up holes emulsion in both Yalea and Gara
Settle an optimal mine design through an iterative process in both
Gara and Yalea
Backfill trade off complete and Paste plant in progress
Underground…important milestones
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22
Loulo UG tons and meters profile last
12 months…
Production increase 282%
last 12 months
Development meters
increase 55% last 12 months
-50,000
50,000
150,000
250,000
350,000
450,000
Q4-2011 Q1 - 2012 Q2 - 2012 Q3 - 2012
GARA UG YALEA UG
0
1,000
2,000
3,000
4,000
5,000
6,000
Q4-2011 Q1 - 2012 Q2 - 2012 Q3 - 2012
GARA UG YALEA UG
Yalea Pit
Yalea South
Somilo
Section
Decline
Yalea Nth
Decline
2nd 500kW
Vent System
Yalea Main
Decline
VD2
P125 Main
500kW Fan
South
Decline
Full extraction on high grade with backfill
New design introduced from January 2012 that reduces footwall development and
optimizes the capital expenditure
Introducing CAF filling until Paste Fill project commissioned in Jan 2014.
Yalea UG…
New design
multiple
spiral
declines
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23
Gara Pit
CD3
1st 500kW Fan
(153mᶟ/s)
VD1 & CD1
South Decline
2nd 500kW
Fan (295mᶟ/s)
Central
Decline Nth Decline
Mining design optimal with multiple spiral ramps and eliminate footwall drives on
three consecutive levels.
200m strike length in both directions from Spiral Ramps
Future optimisation involves the final location of the crusher and conveyor decline at
85Level at Gara
Gara UG…
New design
multiple
spiral
declines
Inter-level distances 25m
First five years Top down with combination of Sub Level open
Stoping (SLOS) and pillars with Primary and Secondary stopes
Gara Develop flatter dipping blocks on existing levels
Improve on available minable reserves in 2013 with the introduction
of CAF (Cemented Aggregate Fill)
Introduction of Paste Aggregate Fill in 2014 for 100% extraction
strategy
Optimise between Top down and Bottom up sequences for long term
plan
Capex footwall drives every 100meters (32% reduction)
Mining strategy…
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24
Mining Method Descriptions… Top Down SLOS (25 Sub Level Intervals)
2014
2013
Mined Out
2016
2015
2017
Yalea Mine Plan
Gara Mine Plan
5 year mining plan…
2013/01/25
27
2013 focus
Recovery Improvement
Install additional 4 (four) CIL Tanks
Retention time to be put back to 40 hrs
Elution Circuit Improvement
Increase elution batches
Additional unit of Secondary or Tertiary crusher
Increase of grinding section capacity to 5-10%
Reduce of scats in the grinding circuit
Oxygen Supply Upgrade
Additional 10tons PSA to optimize oxygen distribution per tank
New return damn at TSF
Improve water management
Reagent optimization
Install Lime auto dosing
Processing Output…
Simplified metallurgical flow sheet…
Smelt-house
Coarse
Stockpile
Elution
Primary
Secondary
Tertiary
Crushing
SOFT ORE
HARD ORE
Conveyor
CIL Tank Farm
Cyclones
Knelson
Concentrators
Mineral
Sizer
Eluate
Gravity
concentrate
TAILINGS DISPOSAL DAM
8km
Upgraded
pipeline
Gold Bullion
Thickener and Clarifier
Accounting Sampling points
Fine
Stockpile
Ball Mills
Ball Mills
Primary Mill
AARL
2013/01/25
28
Engineering…
Key performances 2012…
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010 82.80 76.20 76.90 70.00 77.50 78.90 77.00 87.60 90.70 84.10 87.60 83.60
2011 83.30 79.40 77.80 83.80 82.30 87.90 85.40 85.10 87.90 86.50 89.60 87.90
2012 89.70 92.40 84.30 84.90 87.60 87.40 88.20 86.90 87.30
65.00%
70.00%
75.00%
80.00%
85.00%
90.00%
95.00%
100.00%
Pla
nn
ed
Ava
ila
bil
ty =
85
%
Crusher Engineering Availabilities
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010 93.10 89.60 90.80 86.70 78.40 83.70 92.00 93.50 95.20 94.20 96.40 92.20
2011 95.80 89.60 92.70 93.10 87.90 91.80 86.70 92.50 95.30 91.80 92.80 95.90
2012 95.90 94.70 95.60 95.30 93.70 92.70 96.40 95.30 96.40
70.00%75.00%80.00%85.00%90.00%95.00%
100.00%
Pla
nn
ed
Ava
ila
bil
ity =
9
5%
Plant Engineering Availabilities
2013/01/25
29
Focus 2013
Upgrade crushing circuit
Continue to optimize power plant operation, improve fuel
efficiency
Upgrade CIL train and elution capacity for better gold stripping
Component, Equipment rebuild and exchange plan
Completion of Gara conveyor installation
Installation of Yalea primary pump station
Continue Engineering integration, Manpower development
within the group
Engineering…
Capital Projects…
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30
New Power Plant – Medium Speed Engines 7 to 8
Medium Speed Engines 7 & 8
Engine 7 - On line 28 January 2012
Engine 8 - On line 12 February 2012
Additional power required for the Primary Mill project.
Primary Mill Project
Installation of a new SAG Mill raise
throughput and accommodate the harder
Gounkoto ore and eliminate all the scats –
10% monthly average. Completed Feb
2012.
New Stockpile
In line with Loulo Milling expansion, to enable and
effectively processing of 300ktpm of harder ( higher work
index) crushed ore from Yalea , Gara & Gounkoto, the
Installation of a New Stockpile is essential . Completed
May 2012.
Completed projects…2012
HFO Plant Conversion
Heavy fuel oil storage farm to feed the 8
medium speed Installation of a new engines.
Order placed on equipments with APS and
Plate works with ATC. . Target completion 30
June 2013.
Gara Overland Conveyors
Gara Surface overland conveyor is the means
of transporting ore from the portal of Gara
underground to the stockpile feeding. It
comprises Conveyor # 1 = 248m, Oveland
conveyor 429m and stockpile feed & transfer
tower 289 m. Target Completion 30 Jan 2013.
UG Paste Backfill – Intermediate plant
Project comprises of Intermediate plant, Gara
& Yalea paste plant. It’s a UG project,
managed and implemented by Surface
Capital Projects,
Target completion 30 Dec 2013.
Ongoing projects…2012 - 2013
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Gara Box cut retaining wall cut back
Additional CIL tanks - 4 off
C M 9 & 10
PCD Extension completion
Lime Storage Shed 24m x 70m
Replacement of Old sewage plant
Surface capital focus projects…2013
Logistics and Supply…
2013/01/25
32
New warehouse software (SAP) implemented ; Better control of
supply chain processes and interface with Finance; March 31,2012
Total Fuel Management System implemented (Lafon system), No
SOMILO fuel stock; SOMILO pays for actual consumed volumes;
May 01,2012
2012 Number of months stock : actual 9.9 vs. target of 11.4
Achievements 2012…
Number of Months Stock Trend 2012
(excluding strategic)…
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
NMS(actual) 15.4 15.1 14.9 14.9 14.8 15.3 13.9 12.4 12.9 11.9 11.9 9.9
NMS (target) 11.4 11.4 11.4 11.4 11.4 11.4 11.4 11.4 11.4 11.4 11.4 11.4
0
2
4
6
8
10
12
14
16
18
NMS(actual)
NMS (target)