SEMAFO Inc is pleased to report that it has completed its first gold pour at the Boungou Mine in Burkina Faso, slightly ahead of the original schedule. The first pour yielded approximately 325 ounces of gold.
SEMAFO Mining News
Montreal-based producer expects to produce more than 400,000 ounces by 2019.
Shares in Montreal-based producer jump after strong operational results at its Burkina Faso gold mine, progress on feasibility for flagship project.
Montreal company's shares are up 26% in 3 weeks following acquisition of Natougou gold deposit in Burkina Faso after $147m takeover of Orbis Gold.
Montreal-based producer picks up flagship project in Burkina Faso after sealing $139 million takeover of Australia's Orbis.
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Total gold reserves at the Mana mine is up 28% to 2.4 million ounces.
Montreal-based Semafo (TSX:SMF) had a good first quarter, producing and selling more gold than in the same time frame last year.
Globe and Mail columnist Darcy Keith says the stock is undervalued and the company is showing robust resource estimates coming out of its Mana and Samira Hill projects in west Africa.
Perhaps one of the many problems facing mining companies in developing nations is that the locals – or at least some local politicians – often have little idea of the economics of bringing a mine […]