Canadian-based SEMAFO owns and operates the Mana and Boungou Mines, two open-pit gold mining operations in Burkina Faso. Construction of the Boungou Mine was achieved on time and on budget in the second quarter, and commercial production announced on September 1, 2018. With the addition of Boungou, the Corporation is targeting production of between 235,000 and 265,000 oz in 2018 and +400,000 oz in 2019.
In the first half of 2018, SEMAFO generated $34 million from operating activities, ending the second quarter with $109 million in cash and long-term debt of $116 million. A $26-million discovery-oriented program is ongoing in proximity of the Mana, Boungou and Nabanga projects with the aim of increasing mineral resources. SEMAFO’s operations are supported by SEMAFO Foundation, which has invested CA$10 million since 2009 in near-mine community initiatives.
Produced 91,200 oz at AISC of $1,093/oz in H1 2018.
Boungou Mine reached commercial production on September 1, 2018.
2018 production guidance of 235,000-265,000 ounces at AISC of between $900-$940/oz.
Annual Production Gold, oz per year
Annual Proven & Probable Reserves Gold, Moz per year
Mineral Authority: NI 43-101 , GEOs: No
All data is attributable unless otherwise stated in footnotes. Mineral resources are exclusive of reserves unless otherwise stated in footnotes.
Van Eck Associates Corporation
Tocqueville Asset Management
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