Shares in gold miner Randgold Resources dropped over 11 percent this morning after announcing a 6 percent drop in gold production.

The company reported a flat second-quarter profit of $150.6 million in the three months to June 30th, with prices offset by a 12 percent rise in production costs.

Randgold owns goldmines in Mali, the Ivory Coast and the Democratic Republic of Congo, and have benefited strongly from the soaring price of gold in the run up to the European referendum. However a mill failure at its mine in Tongon, as well as ore feed issues in Kibali, led to weaker than anticapted results.

Shares in Randgold Resources plummeted on the news, now trading down 11.08 percent at 7,985 (1058GMT).

04/08/2016