MONTREAL, Oct. 6 /CNW Telbec/ - SEMAFO (TSX: SMF) announced today that gold production for the three-month period ended September 30, 2009 totaled 62,000 ounces, an increase of 12% over the Company's third quarter 2008 production of 55,300 ounces. For the first nine months of 2009, production totaled 184,200 ounces of gold compared to 138,600 ounces of gold for the corresponding period in 2008.
The Mana mine continued to excel, having produced a record 41,600 ounces during the three-month period ended September 30, 2009, representing 67% of the Company's total production for the quarter.
"It was an excellent quarter at the Mana mine," said Benoit Desormeaux, SEMAFO's Executive Vice-President and COO, "In September, the Mana mine set a new monthly production record of 15,100 ounces of gold."
For the quarter, SEMAFO gold sales averaged $969 an ounce, slightly above the average London PM Fix price of $960 per ounce.
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 third quarter operating and financial results to be released mid-November.
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.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. Forward-looking statements include words such as "maintaining", "guidance", "preliminary", "subject", "adjustment", "will be" and other similar expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays and other risks described in the Company's documents filed with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, such 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 2008 Annual MD&A, as updated in the 2009 First Quarter MD&A and 2009 Second Quarter MD&A, 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.
SOURCE SEMAFO INC.
For further information: For further information: SEMAFO: Benoit La Salle, President & CEO, (514) 744-4408, Toll-Free: 1-888-744-4408, firstname.lastname@example.org; Sofia St Laurent, Communications, (514) 744-4408, Toll-Free: 1-888-744-4408, email@example.com