Semafo Commissions 4,000 Tonne-per-Day Ball Mill at Mana
Montreal, Quebec, July 29, 2008 - Semafo Inc. (TSX: SMF) is pleased to announce the start-up of the new 4,000 tonne-per-day ball mill at its Mana mine in Burkina Faso.
�The start-up of the new ball mill marks yet another important milestone for the Company,� said Benoit Desormeaux, Semafo�s Executive Vice-President and COO, �From the efficient 14-month construction to the timely start-up and commercial production, Mana�s smooth, successful progress is a testimony to the ongoing cooperation and contributions of our valued employees, contractors, and suppliers.�
During the first three months of operations, April, May and June, Mana produced 17,200 ounces of gold using the 2,000 tonne-per-day ball mill. Once fully commissioned, the new ball mill will significantly increase the plant�s throughput and production capacity. Accordingly, management is maintaining its previously announced production guidance for the Mana mine of between 60,000 and 70,000 ounces of gold for 2008.
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 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.
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