Jan 8 2009
SEMAFO (TSX: SMF) today announced that its gold production totaled 195,500 ounces in 2008, thereby establishing a production record, and exceeding the annual budget of guidelines between 165,000 to 185,000 ounces, and the 2007 production of 106,400 ounces. The increase over 2007, is primarily due to the successful start of the Mana Mine in April 2008.
"Semafo's fourth quarter production total of 57,000 ounces set yet another record for the company, and represents a 3% increase over the last quarter. The Mana mine continues to make a strong contribution to our overall gold production results. We are pleased with the total production of 2008," said Benoit Desormeaux, Executive Vice-President and COO. "We have very strong results and a new annual production record for the company; once again, a testimony to the strength and determination of our operating teams."
"We are extremely pleased with the start up of the Mana Mine, which has allowed us to capture the benefits of a strong gold price environment. We are focused on maximizing the financial performance of each operating mines, and increasing shareholder value through organic growth and accretive acquisitions," said Benoit La Salle, President and CEO.
Production numbers are preliminary and may be subject to final adjustment.