MONTREAL, June 1 /CNW Telbec/ - SEMAFO (TSX: SMF) today provided an update on Phase II of the plant expansion program at its Mana Mine in Burkina Faso.
Installation of the semi-autogenous grinding ("SAG") mill is proceeding on schedule. Overall civil works are essentially complete. Structural steel and mechanical installation are 75% completed with work now focusing on electrical and piping. Commissioning of new gensets is scheduled for mid-June.
"Mana's plant expansion program is tracking to budget with commissioning of Phase ll scheduled to commence in the last week of June," said Benoit Desormeaux, SEMAFO's Executive Vice-President and Chief Operating Officer. "Modifications to the plant will increase hard rock production capacity from 4,000 to 6,000 tonnes per day, thereby allowing for higher gold output of approximately 40,000 ounces per annum."
Phase II primary enhancements comprise the addition of a 26' x 10' SAG mill and the replacement of the current two-stage crushing circuit with a 400 tonne-per-hour capacity single jaw crusher.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities in West Africa.
Caution Concerning Forward-looking Statements
This press release contains 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. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "scheduled", "will", "committed", "evolve", "become", "pursuing", growth" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to complete the Phase II expansion program on budget and on schedule, the ability of the plant expansion to increase hard rock production capacity and gold output as expected, the ability to find organic and strategic growth opportunities in West Africa, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
SOURCE SEMAFO INC.
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