SEMAFO Inc. : Q4 and Annual 2017 Production and Costs in Line
Boungou 80% Complete - Continues on Time, on Budget
MONTREAL, Jan. 22, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) reports 2017 production of 206,400 ounces at an all-in sustaining cost of $943 per ounce. As a result, the Corporation has beat its revised production and met its cost guidance for the year.
- In the fourth quarter, Mana produced 49,500 ounces of gold at a total cash cost1 of $667 per ounce and all-in sustaining cost2 of $987 per ounce
- Annual production of 206,400 ounces, slightly ahead of 2017 guidance of 190,000 to 205,000 ounces
- Total cash cost1 for 2017 of $655 per ounce
- All-in sustaining cost2 for 2017 of $943 per ounce, in line with guidance of $920 to $960 per ounce
- Gold sales of 205,300 ounces generated 2017 revenues of $259 million ($1,261 per ounce)
Mana, Burkina Faso
|ended December 31,||ended December 31,|
|Head grade (g/t)||2.43||2.52||(4%)||2.46||2.88||(15%)|
|Gold ounces produced||49,500||55,100||(10%)||206,400||240,200||(14%)|
|Gold ounces sold||49,200||57,100||(14%)||205,300||240,600||(15%)|
In 2017, the head grade decreased slightly compared to 2016 as a result of a decision to add 603,800 tonnes of low grade material at an average grade of 0.70 g/t Au to the mix during the year. Without this, the head grade for the year would have been 2.96 g/t Au.
2017 numbers are unaudited and subject to final adjustment. All $ amounts are in US dollars, unless otherwise indicated.
1 Total cash cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the mining operation expenses and government royalties per ounce sold.
2 All-in sustaining cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the total cash cost, plus sustainable capital expenditures and stripping costs per ounce sold.
Boungou 80% Complete
As at December 31, 2017, construction of the Boungou Mine was 80% completed and remained on time for commissioning in the third quarter of 2018. In addition, the following achievements had been made:
- Development on budget with $159 million of the $231 million capital spent
- Cash and restricted cash of $222 million as at December 31, 2017
- Completion of concrete pour, some 70% of structural steel and 55% of mechanical installation
- Erection of CIP tanks completed
- Tailings storage facility was almost 70% completed
- Completion of almost 80% of the power plant and over 70% of the fuel depot
- Pre-stripping was over 50% completed with 9.7 million of the projected 18 million tonnes extracted
- Installation of the SAG mill scheduled for completion at end of January 2018
- 3.7 million person hours worked without lost-time injury
The table below presents the construction milestones for the Boungou Mine and their level of completion:
To follow the construction progress, please view the following link to the Boungou Mine photo and video gallery on our website: http://www.semafo.com/English/news-and-media/Boungou-Media-Page/default.aspx
2018 Outlook and Siou PFS
The 2018 outlook and the pre-feasibility study results for Siou underground will be released after market close on February 15. A conference call will be held at 8 am on February 16 to discuss the results, the details of which will be given in the release.
SEMAFO is a Canadian-based gold mining company with production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high grade satellite deposit of Siou and is targeting production start-up of the Boungou Mine in the third quarter of 2018. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "continues", "on time, on budget", "unaudited", "final adjustment", "outlook", "will", "milestones" "targeting", "pursuing", "growth", "opportunities" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to complete the construction of Boungou on time and on budget, final adjustment to our 2017 numbers, the ability to commission the Boungou Mine in the third quarter of 2018, the ability to meet the construction milestones for the Boungou Mine, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2016 Annual MD&A, as updated in SEMAFO's 2017 First Quarter MD&A, 2017 Second Quarter MD&A and 2017 Third Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
The information in this release is subject to the disclosure requirements of SEMAFO under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on January 22, 2018 at 5:00 p.m., Eastern Standard Time.
For more information, contact:
Vice-President, Corporate Development & Investor Relations
Analyst, Investor Relations
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SEMAFO Inc. via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Luxembourg Announced as SNOMED International's Newest Member24.5.2018 15:16 | Pressmeddelande
London, United Kingdom, May 24, 2018 (GLOBE NEWSWIRE) -- SNOMED International and Agence eSanté Luxembourg are pleased to announce that Luxembourg has joined the organization as its thirty-second Member. Luxembourg, one of the leading nations in the area of information and communication technology, has set the development of eHealth technologies as a high priority. Agence eSanté, Luxembourg's national agency for the exchange and sharing of medical data, has set an overall mission to facilitate clinical information exchange both within Luxembourg and across other international actors. To work towards this reality, the agency has taken part in discussions about standardization across Europe, a contributing building block achieved with its membership in SNOMED International. With their membership, Agence eSanté has committed their support for the use of structured clinical terminology. When applied to the health sector, interoperability ensures that information systems, and through them h
SEMAFO Signs Underground Mining Services Contract with AUMS24.5.2018 14:00 | Pressmeddelande
MONTREAL, May 24, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) reports that it has signed a mining services contract with African Underground Mining Services ("AUMS") to provide turnkey mining services for Siou underground. AUMS is a well-known and reputable mining contractor with underground experience in Burkina Faso and across Africa. Under the mining services contract, AUMS will be responsible for supplying the mining fleet and a skilled labour force for Siou underground in addition to ensuring development, production and auxiliary services. SEMAFO will provide technical services including geology and engineering as well as leveraging the existing surface infrastructure at Mana. The mining services contract has a term of 70 months. The economic terms of the mining services contract are consistent with the economics presented in the Mana pre-feasibility study filed March 29, 2018 on SEDAR. Preparatory work has already commenced on Siou underground with full project deplo
Merus Announces First Patient Dosed in Phase 1 Clinical Trial of MCLA-158 in Patients with Solid Tumors24.5.2018 13:00 | Pressmeddelande
- IND Accepted in April by the U.S. FDA for MCLA-158 - UTRECHT, The Netherlands, May 24, 2018 (GLOBE NEWSWIRE) -- Merus N.V. (Nasdaq:MRUS), a clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics (Biclonics®), today announced that the first patient has been dosed in a Phase 1, first-in human clinical trial of MCLA-158 in patients with solid tumors with an initial focus on metastatic colorectal cancer. The trial will be conducted in Europe, where several Clinical Trial Applications (CTAs) have been approved to date. The Company also announced the submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for MCLA-158, which was accepted by the FDA in April 2018. With this acceptance, Merus plans to open additional sites for this trial in the United States. MCLA-158 is designed to bind to cancer stem cells expressing leucine-rich repeat-containing G protein-coupled receptor 5 (Lgr5) and epidermal grow
PRA Named International Clinical Research Company of the Year24.5.2018 10:00 | Pressmeddelande
RALEIGH, N.C., May 24, 2018 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (NASDAQ:PRAH) is pleased to announce it was recognized by PharmaTimes as the International Clinical Research Company of the Year. This is the fifth year in a row that PRA has received this award. "This award celebrates excellence in the clinical research industry and we are honored to once again be recognized by our peers," said Colin Shannon, President and Chief Executive Officer. "This award is possible thanks to the incredibly talented PRA team members we have working around the world who are deeply committed to their work in bringing new and life-saving therapies to the patients who need them." PRA also swept the Clinical Research Associate and Clinical Trial Administrator categories capturing a total of 11 awards. These awards follow PRA's recognition earlier this month in the PharmaTimes Americas competition where PRA also received 11 awards, including Company of the Year. The PharmaTimes, International Cli
Immunicum AB: Inbjudan till investerarträff24.5.2018 08:00 | Pressmeddelande
Pressmeddelande 24 maj 2018 Immunicum AB: Inbjudan till investerarträff Immunicum AB (publ; IMMU.ST) meddelade i dag att bolaget kommer att anordna en investerarträff i Kalmar den 13 juni kl. 18:00 CEST. Carlos de Sousa, Immunicums VD, kommer att hålla en presentation av det dagsaktuella läget, och han och övriga i ledningen kommer vara tillgängliga för att svara på frågor. Kalmar Datum: Onsdag 13 juni 2018 Tid: 18:00 - 20:00 CEST Plats: Kalmar Slott, Kungsgatan 1, 392 33 Kalmar För att delta på träffen, skicka ett mejl till email@example.com med ditt fullständiga namn. För ytterligare information kontakta: Carlos de Sousa, VD, Immunicum Telefon: +46 (0) 31 41 50 52 E-post: firstname.lastname@example.org Michaela Gertz, Finanschef, Immunicum Telefon: +46 (0) 31 41 50 52 E-post: email@example.com Media Relations Gretchen Schweitzer och Joanne Tudorica Trophic Communications Telefon: +49 172 861 8540 E-post: firstname.lastname@example.org Om Immunicum AB (publ) Immunicum etablerar ett unikt angreppssätt inom im
Immunicum AB: Invitation to Investor Event24.5.2018 08:00 | Pressmeddelande
Press Release 24 May 2018 Immunicum AB: Invitation to Investor Event Immunicum AB (publ; IMMU.ST) announced today that the Company will host an investor event in Kalmar on June 13 starting at 18:00 CEST. Carlos de Sousa, CEO of Immunicum, will give the current corporate presentation and he and other members of the Immunicum leadership team will be available for a question and answer session. Kalmar Date: Wednesday, June 13, 2018 Time: 18:00 - 20:00 CEST Location: Kalmar Slott, Kungsgatan 1, 392 33 Kalmar To register to attend the event, please send an email to email@example.com with your full name. For more information, please contact: Carlos de Sousa, CEO, Immunicum Telephone: +46 (0) 31 41 50 52 E-mail: firstname.lastname@example.org Michaela Gertz, CFO, Immunicum Telephone: +46 70 926 17 75 E-mail: email@example.com Media Relations Gretchen Schweitzer and Joanne Tudorica Trophic Communications Telephone: +49 172 861 8540 E-mail: firstname.lastname@example.org About Immunicum AB (publ) Immunicum is establis
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum