EXHIBIT 8.1

List of Subsidiaries and Associated Companies of Randgold & Exploration Company Limited
Name of Subsidiary				Jurisdiction of Incorporation
First Wesgold Mining (Pty) Limited				South Africa
Minrico Limited				South Africa
Randgold Finance (BVI) Limited				British Virgin Islands
Randgold Resources (Holdings) Limited				Jersey, Channel Islands
Randgold Resources Limited				Jersey, Channel Islands
Viking Pony Properties 359 (Pty) Ltd.				South Africa
Kabusha Mining and Finance (Pty) Ltd.				South Africa
Versatex Trading 446 (Pty) Ltd.				South Africa
Lunda Alluvial Operations (Pty) Ltd.				South Africa
Free State Development and Investment Corporation Ltd.				South Africa