MONTREAL, April 15 /CNW Telbec/ - SEMAFO (TSX: SMF) announced today that
gold production for the three-month period ended March 31, 2009 totaled 57,600
ounces, compared to 27,000 ounces for the first quarter of 2008 and 56,800
ounces for the fourth quarter of 2008.
The increase in production compared to the first quarter of 2008 is
mainly the result of the Mana mine, which began commercial production in April
Favorable gold prices during the first quarter of 2009 resulted in gold
sales averaging $922 per ounce.
In the first quarter of 2009, SEMAFO settled 11,500 ounces of gold sales
contracts and is scheduled to retire all of its outstanding gold sales
contracts by June 30, 2009.
The Company is maintaining its previously announced overall production
guidance of between 220,000 and 240,000 ounces for 2009.
Production numbers are preliminary and may be subject to final
adjustment. Further information will be published in the Company's first
quarter operating and financial results to be released mid-May.
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.
This press release may contain forward-looking statements. These
forward-looking statements include, but are not limited to, statements
regarding the Company's expectations 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 Company's Annual Information Form and
other filings 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.
For further information:
For further information: SEMAFO: Benoit La Salle, President & CEO, (514)
744-4408, Toll-Free: 1-888-744-4408, email@example.com; Sofia St Laurent,
Communications, (514) 744-4408, Toll-Free: 1-888-744-4408,