Semafo Declares Commercial Production at Mana Gold Mine
Tue Jun 3, 9:38 AM
ca.news.finance.yahoo.com
SEMAFO TSX-SMF
MONTREAL, June 3 /CNW Telbec/ - SEMAFO (TSX: SMF.TO) today reported that its Mana gold mine in Burkina Faso achieved commercial production with the 2,000 tonne-per-day ball mill.
In May, the Mana mine produced 5,000 ounces of gold, bringing the total gold production to date to 9,400 ounces.
"In May, with 88% availability and 98% of designed throughput capacity, the Mana plant processed in excess of 53,000 tonnes of ore," said Benoit Desormeaux, Executive Vice-President and COO. "Installation of the of the 4,000 tonne-per-day ball mill is currently underway, with commissioning scheduled for July."
"We are pleased with the smooth, successful progress at Mana," said Benoit La Salle, President and CEO, "and remain confident that Mana will meet our 2008 production guidance of 60,000 - 70,000 ounces."
About SEMAFO
Semafo is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining principles and strengthening relationships to increase shareholder value.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related to hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Contacts
SEMAFO: Benoit La Salle
President & CEO
(514) 744-4408
blasalle@semafo.com
Renmark: Maurice Dagenais: mdagenais@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
(514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com |
