MONTREAL, Sept. 18 /CNW Telbec/ - Semafo Inc. (SMF-TSX) today provided a
construction progress report for its Mana Gold project located in Burkina
Work is progressing on schedule and is summarized as follows;
- Access roads to the mine and to the Wona and Nyafe pits have been
- Construction of the base of the rompad is underway using waste material
from pit preparation
- Foundation work for the plant has essentially been completed.
- Structural steel erection is ongoing with completion scheduled for
- Installation of power generating equipment is well underway with
completion scheduled for October.
- Relocation of the villagers is progressing on schedule and
approximately 95% complete.
- Construction of on-site housing for expatriates and senior staff has
- Office building, work shops and warehouses have all been completed.
- Stripping of the Wona pit by our own staff and mining fleet is
underway. More than 1,000,000 tonnes of material have been removed.
- Waste materials from the Wona pit have been utilized in the
construction of the water and tailings dams and the production road, in
addition to the base of the rompad previously mentioned
- Ore is presently accessible for mining from the Wona pit.
- Stripping of the Nyafe pits will commence in October.
- The water dam is completed and has begun accumulating water from
- Construction of the tailings dams is progressing on schedule with
completion scheduled for early December.
- Piping for pit dewatering between the Wona pit and the water dam has
- The two water tanks and six CIL tanks have been installed.
- Installation of the crushing circuit has past the midway point with
completion scheduled for the end of October.
- The apron feeder is being installed with completion scheduled for the
end of October.
- The elution equipment and regeneration kiln have arrived on site with
installation scheduled to begin in October.
- The 2,000 ton per day ball mill is schedule to arrive at port in Ghana
later this month and be on site mid October.
- The 4,000 ton per day ball mill is scheduled for shipment in December.
The Mana gold project is both fully permitted and fully funded.
Commissioning is scheduled for year end. Construction updates will continue to
be provided monthly. Site photography is updated and can be viewed via the
internet at www.semafo.com.
Semafo is a Canadian-based mining company conducting exploration,
development and production activities in West Africa. The Company currently
operates two gold mines, the Kiniero mine in Guinea and the Samira Hill mine
in Niger. A third mine, the Mana gold project in Burkina Faso, is under
construction with plant commissioning scheduled for December 2007. Semafo is
committed to evolve conscientiously to become a major player in its
geographical area of interest, while maintaining values 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 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
For further information:
For further information: SEMAFO: Benoit La Salle, President & CEO, (514)
744-4408, firstname.lastname@example.org; RENMARK: Tina Cameron,
email@example.com; Christopher Wells, firstname.lastname@example.org,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com