SEMAFO Reports First Quarter 2008 Gold Production
Q1 Production Exceeds Guidance
Montreal, Quebec, April 15, 2008. - SEMAFO (TSX - SMF) today announced that gold production for the first quarter ended March 31, 2008 totalled 28,700 ounces, exceeding guidance by 4,200 ounces. Total production was comprised of 12,400 ounces and 16,300 ounces from the Kiniero from Samira Hill mines, respectively.
Favorable gold prices during the first quarter of 2008 resulted in gold sales averaging in excess of $900 per ounce. As previously reported, gold sales in the first quarter of 2007 averaged $661 per ounce.
The Company is maintaining its previously announced overall production guidance of between 165,000 and 185,000 ounces for 2008. In order to track mid-range for the year, production for the first six months must reach 66,000 ounces, hence 37,300 ounces for the current quarter ending June 30th. The increase in production over that of the first quarter is projected to come from the Company's new Mana mine, which recently completed its first gold pour.
Production numbers are preliminary and may be subject to final adjustment. Further information will be published in the Company's first quarter operating and financial results to be released mid-May.
About SEMAFO
Semafo is a Canadian-based mining company with gold production and exploration activities located 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 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 :
SEMAFO:
BENOIT LA SALLE,
PRESIDENT & CEO
TEL :  (514) 744-4408
E-MAIL :  BLASALLE@SEMAFO.COM 
RENMARK FINANCIAL COMMUNICATIONS INC. :
MAURICE DAGENAIS : MDAGENAIS@RENMARKFINANCIAL.COM
ERIC ST-PIERRE : ESTPIERRE@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM 
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Semafo Inc
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PRODUCTEUR |
CODE : SMF.TO |
ISIN : CA8169221089 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Semafo est une société de production minière d'or basée au Canada. Semafo détient divers projets d'exploration au Burkina Faso. Ses principaux projets en production sont KINIERO en Guinee, SAMIRA HILL au Niger et MANA au Burkina Faso. Semafo est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,5 milliards CA$ (1,1 milliards US$, 1,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 14 décembre 2001 à 0,10 CA$, et son plus haut niveau récent le 16 septembre 2011 à 10,00 CA$. Semafo possède 324 860 000 actions en circulation. |