SEMAFO Appoints Mana Mine Manager
Montreal, Quebec, September 13, 2007 - SEMAFO (TSX - SMF) today announced the appointment of Mr. Michel Labont� to the position of Assistant General Manager and Mine Manager of its Mana gold project located in Burkina Faso.
Mr. Labont�, who is already on site, will report directly to the Chief Operating Officer, Mr. Benoit Desormeaux. He will be responsible for all on-site activities and will oversee a staff of some 425 employees. His appointment is evidence of SEMAFO's ongoing commitment to develop and maintain an efficient and effective, fully integrated operations team.
Mr. Labont� is an industry veteran with over 30 years of experience with companies such as Falconbridge and Placer Dome including an assignment for Barrick where he was stationed in Africa. He most recently served as General Manager, Operation with Alexis Minerals Corporation where he successfully contributed to the development of the Lac Herbin project. He holds a degree in Mineral Technologies and Mining Operations.
"Michel Labont� brings to the Mana gold project a wealth of experience in the mining industry, making him a valuable addition to our operating team." said Benoit La Salle, Semafo's President and Chief Executive Officer. "Michel will play an integral role ensuring that Mana delivers its full potential."
Mana mine construction continues to progress on time and within budget with commissioning scheduled to commence in December. Construction updates will continue to be provided monthly. Site photography is updated and can be viewed via the internet at www.semafo.com.
About SEMAFO
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.
FORWARD-LOOKING STATEMENTS
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 t
o 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 applicable law.
For more information contact:
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Semafo Inc
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PRODUCER |
CODE : SMF.TO |
ISIN : CA8169221089 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Semafo is a gold producing company based in Canada. Semafo holds various exploration projects in Burkina Faso. Its main assets in production are KINIERO in Guinea, SAMIRA HILL in Niger and MANA in Burkina Faso. Semafo is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.5 billions as of today (US$ 1.1 billions, € 1.0 billions). Its stock quote reached its lowest recent point on December 14, 2001 at CA$ 0.10, and its highest recent level on September 16, 2011 at CA$ 10.00. Semafo has 324 860 000 shares outstanding. |