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SEMAFO: Cash Flow from Operations of $15.8 Million in Second Quarter 2018

Del

Promising Exploration Results at Boungou

MONTREAL, Aug. 07, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) today reported its financial and operational results for the three-month period ended June 30, 2018.  All amounts are in US dollars unless otherwise stated.

Second Quarter 2018 - in Review

• Gold production of 45,700 ounces compared to 47,600 ounces for the same period in 2017

• Gold sales of $58.5 million compared to $59.3 million for the same period in 2017

• All-in sustaining cost1 of $1,103 per ounce sold compared to $1,074 for the same period in 2017

• Cash flows from operating activities2 of $15.8 million or $0.05 per share1 compared to $23.6 million or $0.07 per share1 for the same period in 2017

• Adjusted net loss attributable to equity shareholders1 of $6.3 million or loss of $0.02 per share1 compared to adjusted net loss1 of $2.9 million or loss of $0.01 per share1 for the same period in 2017

• Underground mining services contract signed with AUMS for Siou Underground

• Osaanpalo Zone at Boungou Proximal returns up to 17.17 g/t Au over 3.0 meters

• Baali Zone at Boungou Regional returns up to 7.58 g/t Au over 9.4 meters
 

Boungou Mine

As at June 30, 2018:

• First gold poured on June 28, 2018

• Construction and commissioning of the mine 100% complete

• Construction capital expenditure on budget

• Pre-stripping of the projected 18 million tonnes complete

• Construction completed with 5.6 million man-hours (18 months) without lost-time injury

1 All-in sustaining cost, adjusted net loss attributable to equity shareholders, adjusted basic loss per share and operating cash flows per share are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS financial performance measures" section of the Corporation's MD&A, note 19.
2 Cash flows from operating activities exclude changes in non-cash working capital items.

Mana, Burkina Faso
Mining Operations

    Three-month period   Six-month period
    ended June 30,   ended June 30,
                 
    2018 2017 Variation   2018 2017 Variation
Operating Data                
Mining                
Waste mined (tonnes)   5,121,300   3,947,600   30 %   10,327,100   8,586,000   20 %
Ore mined (tonnes)   478,200   503,200   (5 %)   1,070,500   982,600   9 %
Operational stripping ratio   10.7   7.8   37 %   9.6   8.7   10 %
Capitalized Stripping Activity                
Waste material – Siou (tonnes)     4,547,200   (100 %)     8,353,100   (100 %)
Waste material – Wona (tonnes)   3,513,700   2,583,000   36 %   6,717,900   3,714,300   81 %
    3,513,700   7,130,200   (51 %)   6,717,900   12,067,400   (44 %)
Total strip ratio   18.1   22.0   (18 %)   15.9   21.0   (24 %)
                 
Processing                
Ore processed (tonnes)   604,200   481,400   26 %   1,216,200   1,117,700   9 %
Low grade material (tonnes)   32,600   194,100   (83 %)   72,300   289,600   (75 %)
Tonnes processed (tonnes)   636,800   675,500   (6 %)   1,288,500   1,407,300   (8 %)
Head grade (g/t)   2.35   2.31   2 %   2.30   2.43   (5 %)
Recovery (%)   95   95       96   94   2 %
Gold ounces produced   45,700   47,600   (4 %)   91,200   103,000   (11 %)
Gold ounces sold   45,100   46,900   (4 %)   92,000   101,600   (9 %)
                 
Statistics (in dollars)                
Average realized selling price (per ounce)   1,298   1,265   3 %   1,317   1,242   6 %
Cash operating cost
(per tonne processed)¹
  56   43   30 %   55   48   15 %
Cash operating cost, including stripping (per tonne processed)1   70   64   9 %   69   64   8 %
Total cash cost (per ounce sold)¹   858   703   22 %   853   701   22 %
All-in sustaining cost (per ounce sold)   1,103   1,074   3 %   1,093   976   12 %
Depreciation (per ounce sold)²   499   527   (5 %)   520   491   6 %


1 Cash operating cost, total cash cost and all-in sustaining cost are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS financial performance measures" section of the Corporation's MD&A, note 19.
2 Depreciation per ounce sold is a non-IFRS financial performance measure with no standard definition under IFRS and represents the depreciation expense per ounce sold.


2018 Second Quarter Results

As expected, during the second quarter of 2018, the tonnes processed decreased by 6% due to the hardness of the ore. Consequently, the gold ounces produced and sold decreased compared to the same period in 2017.  The higher mining operation expenses are mainly due to the higher operational stripping ratio and the hardness of the ore. The increase in the operational stripping ratio and the decrease in capitalized stripping activity are due to more operational activities being carried out than stripping activities, in accordance with the mine plan.

As expected, in the second quarter of 2018, the all-in sustaining cost was $1,103 per ounce sold compared to $1,074 per ounce sold in the same period in 2017. This is attributable to a higher cash operating cost per tonne mainly caused by the higher operational stripping ratio and partially offset by lower sustaining capital expenditures.

The Corporation reiterates its 2018 consolidated production outlook of between 235,000 and 265,000 ounces of gold at an all-in sustaining cost of between $900 and $940 per ounce.

Boungou Mine

Construction and commissioning of the mine were both completed in the second quarter of 2018. The first gold was poured on June 28, slightly ahead of schedule, and we expect to achieve commercial production in August. In summary, the following achievements have been made:

As at June 30, 2018:

• Construction and commissioning of the mine 100% complete

• Development on budget with $229 million of the $231 million capital expenditure incurred

• Recruitment of mine operator employees and their training complete

• Pre-stripping of 18 million tonnes complete

  • 205,500 tonnes of ore stockpiled

• Construction completed with 5.6 million man-hours (18 months) without lost-time injury

Siou Underground Development

During the second quarter of 2018, we continued to advance development of Siou underground with the objective of achieving full production in the first quarter of 2020. Specifically, the following was achieved:

• Signing of underground mining services contract with AUMS

• Completion of detailed engineering required for development start-up

• Recruitment of key engineering personnel complete

• Construction of infrastructure pads

The Environmental and Social Impact Assessment (ESIA) study is expected to be filed in August.

Exploration

Boungou Mine

The Tapoa Permit Group consists of four contiguous permits - Boungou, Dangou, Pambourou and Bossoari- covering approximately 70 kilometers in strike length along the Diapaga belt in Burkina Faso. The 2018 exploration program at Tapoa is the first extensive drill program over the property following up on two years of detailed field work including mapping, trenching, geophysical surveys, soil and auger drilling. Initial exploration targeted two areas: Tawori and Dangou.

Boungou Proximal

A total of 22 RC holes (2,948 meters) was completed at Tawori, testing a shallow west-dipping structure dubbed the Osaanpalo Zone that outcrops four kilometers north of the Boungou Mine. The nature of mineralization of the Osaanpalo Zone including biotite alteration and shearing along with silicification, sericitization and pyrrhotite-arsenopyrite mineralization, shows similarities to the Boungou Shear Zone. To date, significant gold values have been obtained within the structure, showing a north-trending orientation of mineralization.

Table 1: Osaanpalo Zone Highlights1,2

Hole No. From (m) To (m) Length (m) Au (g/t)
TPA1367 68.00 79.00 11.00 1.01
TPA1370 34.00 44.00 10.00 2.17
TPA1371 5.00 12.00 7.00 1.20
TPA1377 22.00 24.00 2.00 3.12
TPA1378 0.00 4.00 4.00 1.15
TPA1402 46.00 49.00 3.00 17.17
TPA1404 76.00 82.00 6.00 2.10
TPA1407 56.00 57.00 1.00 19.20

  1. All lengths are along the hole axis, and the true thickness has yet to be established.
  2. All assay results are capped at 45 g/t Au.

The Osaanpalo Zone provides an indication of the potential at Tapoa, particularly proximal to the Boungou Mine and infrastructure. The discovery shows that multiple near-surface gold-bearing structures like those at Boungou occur on the property that could rapidly add to the already extensive gold reserves at Tapoa. Further follow-up drilling is currently ongoing at Osaanpalo to establish the extent of the structure.

Boungou Regional

The Dangou permit is located approximately 30 kilometers east-northeast of the Boungou Mine. Previous work at Dangou has shown that the area is underlain by intermediate to mafic intrusive rocks and mafic volcanic flows. Soil and auger sampling in the area uncovered a series of west-northwest trending gold anomalies coincident with induced polarization chargeability highs. By the end of the second quarter of 2018, a total of 88 RC holes and two core holes (10,561 meters) had been completed across the most promising anomalies.

Assay results from this drilling show that the area is highly anomalous in gold throughout. In addition, significant gold mineralization was obtained from altered and locally sheared intervals of the intrusive rocks.

Table 2: Dangou Highlights1,2

Hole No. From (m) To (m) Length (m) Au (g/t) Zone
TPA1419 90.00 96.00 6.00 2.62 Baali
TPA1422 99.00 105.00 6.00 1.92  
TPA1443 35.00 40.00 5.00 6.15  
TPA1448 46.00 53.00 7.00 2.44  
TPA1449 57.00 62.00 5.00 1.79  
TPA1456 17.00 24.00 7.00 1.59  
TPADD001 146.00 155.40 9.40 7.58 Baali

1. All lengths are along the hole axis, and the true thickness has yet to be established.
2. All assay results are below the capping grade of 45 g/t Au.

Among these results, the Baali Zone discovery appears promising with wide biotite alteration and gold mineralization. Although the geometry of the zone remains to be established, core follow up drilling suggests a subvertical zone of altered gabbro and basalt. The Dangou area has also returned significant values from mineralized quartz veins in a sheared gabbro (TPA1456) in addition to disseminated and stringer sulfides in gabbro (TPA1443). These, and other significant cuts from the drilling, will be followed up on in the coming months.

These results clearly demonstrate the potential for different styles of gold mineralization at Tapoa. Upcoming efforts will continue to focus on identifying and understanding new gold-bearing zones that could potentially add to the reserves base of the property.

Mana Project

Mana - Siou
In the quarter, a total of 5 core holes (3,114 meters) was drilled at the Siou North target area. To date, barring a few isolated gold values, no significant mineralization was obtained along the trend. Three holes remain pending, after which the potential of this target will be evaluated for further work.

Mana Regional

A series of satellite targets was tested within trucking distance of the Mana mill. In all, 68 RC holes totaling 9,243 meters and 3 core holes (709 meters) were completed. Significant assay results were obtained at a zone dubbed Doumakélé, which has hematized and pyritized intrusive and volcanic enclaves and is located 25 kilometers southeast of the mill. Highlights include 2.02 g/t Au over 5 meters (MRC18-5107), 8.69 g/t Au across 3.7 meters and 4.19 g/t Au over 4.5 meters (WDC-976), and 6.38 g/t Au over 10.7 meters (WDC-980). Most of the holes were drilled at different directions in order to establish the geometry of the mineralization, so the true thickness remains to be established. The objective is to identify near-surface satellite zones that can be readily transported to the existing mill. The economic potential of Doumakélé will be assessed once additional drilling to better define the zone is complete.

Yactibo (Nabanga Project)

The Yactibo Property hosts the Nabanga deposit, which has inferred mineral resources of 590,000 ounces at a grade of 10.0 g/t Au (1.84 million tonnes at a 5 g/t Au cut-off grade). The 2018 program is designed to test a new interpretation suggesting a shallower northern plunge of the high-grade shoots that could extend beyond 200 meters and along strike.

To date, a total of 25 holes (7,148 meters) core holes has been drilled along the Nabanga structure. Assay results have been received for 20 of the 25 holes drilled to date, and an additional seven holes will be completed when the rainy season ceases early in the fourth quarter.

Results appear to confirm the shallow plunge of the mineralization although the grades seem to gradually decrease at depth. Further drilling is scheduled in the fourth quarter this year following completion of the rainy season. On completion of the program, we will update our resource estimation.

SEMAFO’s Management’s Discussion and Analysis, Consolidated Financial Statements and related financial materials are available in the “Investor Relations” section of the Corporation's website at www.semafo.com. These and other corporate reports are also available on www.sedar.com.

Second Quarter Conference Call

A conference call will be held tomorrow, August 8, 2018, at 8:00 EDT to discuss this press release. Interested parties are invited to call the following telephone numbers to participate in the call:

Tel. local & overseas:  +1 (647) 788 4922  
Tel. North America: 1 (877) 223 4471
Webcast: www.semafo.com
Replay number: 1 (800) 585 8367 or +1 (416) 621 4642 
Replay pass code: 7370499
Replay expiration: September 08, 2018

About SEMAFO
SEMAFO is a Canadian-based mining company with gold 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 commercial production at 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 include words or expressions such as “outlook”, “continues to advance”, “development”, " with the objective of", “start-up”, “expected”, “indication”, “potential”, “could”, “rapidly”, “add”, “ongoing”, "promising", "suggests", “will”, "in order to", "designed to", “additional”, "appear", "seem", "scheduled", “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 attain our 2018 consolidated production outlook of between 235,000 and 265,000 ounces of gold at an all-in sustaining cost of between $900 and $940 per ounce, the ability to achieve commercial production at the Boungou Mine in August, the ability to achieve full production at Siou Underground in the first quarter of 2020, the ability to file Siou’s ESIA study in August 2018, the ability of the Osaanpalo Zone to rapidly add to the gold reserves at Tapoa, the ability of the follow-up drilling at Osaanpalo to establish the extent of the structure, the ability of upcoming exploration efforts at Tapoa to identify and understand new gold-bearing zones that could add to the reserves base of the property, the ability of the Mana Regional exploration program to identify near-surface satellite zones that can be readily transported to the existing mill, the ability of the 2018 exploration program at Yactibo to confirm our new interpretation at the Nabanga deposit, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold prices and 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 2017 Annual MD&A, as updated in SEMAFO’s 2018 First Quarter MD&A, 2018 Second 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.

For more information, contact

John Jentz
Vice-President, Corporate Development & Investor Relations
Email: John.Jentz@semafo.com

Ruth Hanna
Analyst, Investor Relations
Email: Ruth.Hanna@semafo.com

Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Website: www.semafo.com

 
Consolidated Results and Mining Operations
Financial and Operating Highlights
 
    Three-month period
  Six-month period
    ended June 30,
  ended June 30,
    2018   2017   Variation   2018   2017   Variation
                 
Gold ounces produced   45,700   47,600   (4 %)   91,200   103,000   (11 %)
Gold ounces sold   45,100   46,900   (4 %)   92,000   101,600   (9 %)
                   
(in thousands of dollars, except amounts per share)                  
Revenues – Gold sales   58,517   59,315   (1 %)   121,215   126,201   (4 %)
                 
Mining operation expenses   36,139   30,573   18 %   72,773   66,138   10 %
Government royalties   2,540   2,389   6 %   5,684   5,081   12 %
Depreciation of property, plant and equipment   22,583   24,795   (9 %)   48,011   50,063   (4 %)
Share-based compensation   613   (1,095 )     2,031   124   1,538 %
Other   4,200   3,408   23 %   8,339   7,335   14 %
                 
Operating loss   (7,558 ) (755 ) (901 %)   (15,623 ) (2,540 ) (515 %)
                 
Finance income   (612 ) (800 ) (24 %)   (1,253 ) (1,536 ) (18 %)
Finance costs   287   321   (11 %)   600   645   (7 %)
Foreign exchange (gain) loss   1,292   (6,103 )     864   (6,932 )  
Income tax expense (recovery)   2,588   (3,521 )     179   (1,681 )  
                     
Net (loss) income for the period   (11,113 ) 9,348       (16,013 ) 6,964    
                     
Net (loss) income attributable to equity shareholders   (10,431 ) 8,854       (15,141 ) 6,163    
Basic earnings (loss) per share   (0.03 ) 0.03       (0.05 ) 0.02    
Diluted earnings (loss) per share   (0.03 ) 0.03       (0.05 ) 0.02    
                 
Adjusted amounts                
Adjusted operating loss¹   (7,696 ) (2,754 ) (179 %)   (15,664 ) (4,643 ) (237 %)
Adjusted net loss attributable to equity shareholders¹   (6,317 ) (2,893 ) (118 %)   (12,865 ) (7,267 ) (77 %)
Per share¹   (0.02 ) (0.01 ) (100 %)   (0.04 ) (0.02 ) (100 %)
                 
Cash flows                
Cash flows from operating activities²   15,839   23,614 (33 %)   34,230   46,761   (27 %)
Per share¹   0.05   0.07 (29 %)   0.11   0.14   (21 %)


1 Adjusted operating loss, adjusted net loss attributable to equity shareholders, adjusted basic loss per share and operating cash flows per share are non-IFRS financial performance measures with no standard definition under IFRS. See the "Non-IFRS financial performance measures" section of the Corporation's MD&A, note 19.
2 Cash flows from operating activities exclude changes in non-cash working capital items.


Interim Consolidated Statements of Financial Position
(Expressed in thousands of US dollars - unaudited)


    As at   As at  
    June 30,   December 31,  
    2018   2017  
    $   $  
         
Assets        
         
Current assets        
Cash and cash equivalents   108,871   198,950  
Trade and other receivables   25,427   22,649  
Income tax receivable   6,332   3,186  
Inventories   59,553   66,409  
Other current assets   4,777   4,094  
    204,960   295,288  
Non-current assets        
Advance receivable   2,485   2,867  
Restricted cash   23,015   23,237  
Property, plant and equipment   783,127   703,341  
Intangible asset   1,289   1,374  
Other non-current financial assets   2,733   2,256  
    812,649   733,075  
Total assets   1,017,609   1,028,363  
         
Liabilities        
         
Current liabilities        
Trade payables and accrued liabilities   70,042   72,720  
Current portion of long-term debt   30,310   310  
Current portion of finance lease   5,396   4,703  
Share unit plan liabilities   4,205   6,404  
Provisions   3,059   3,069  
    113,012   87,206  
Non-current liabilities        
Long-term debt   86,253   115,247  
Finance Lease   19,038   19,008  
Share unit plan liabilities   2,098   3,138  
Provisions   22,604   12,258  
Deferred income tax liabilities   30,225   30,944  
    160,218   180,595  
Total liabilities   273,230   267,801  
         
Equity        
         
Equity Shareholders        
Share capital   623,604   622,294  
Contributed surplus   6,771   7,220  
Accumulated other comprehensive (loss) income   (18,473 ) 2,256  
Retained earnings   102,267   97,710  
    714,169   729,480  
Non-controlling interests   30,210   31,082  
         
Total equity   744,379   760,562  
Total liabilities and equity   1,017,609   1,028,363  


Interim Consolidated Statements of (Loss) Income
(Expressed in thousands of US dollars, except per share amounts - unaudited)


    Three-month period     Six-month period  
    ended June 30,     ended June 30,  
    2018   2017     2018   2017  
    $   $     $   $  
                     
Revenue – Gold sales   58,517   59,315     121,215   126,201  
             
Costs of operations            
Mining operation expenses   38,679   32,962     78,457   71,219  
Depreciation of property, plant and equipment   22,583   24,795     48,011   50,063  
General and administrative   3,859   3,329     7,776   6,871  
Corporate social responsibility expenses   341   79     563   464  
Share-based compensation   613   (1,095 )   2,031   124  
             
Operating loss   (7,558 ) (755 )   (15,623 ) (2,540 )
             
Other expenses (income)            
Finance income   (612 ) (800 )   (1,253 ) (1,536 )
Finance costs   287   321     600   645  
Foreign exchange loss (gain)   1,292   (6,103 )   864   (6,932 )
             
Income (loss) before income taxes   (8,525 ) 5,827     (15,834 ) 5,283  
             
Income tax expense (recovery)            
Current   (238 ) 514     289   2,235  
Deferred   2,826   (4,035 )   (110 ) (3,916 )
    2,588   (3,521 )   179   (1,681 )
             
Net (loss) income for the period   (11,113 ) 9,348     (16,013 ) 6,964  
             
Attributable to:            
Equity shareholders   (10,431 ) 8,854     (15,141 ) 6,163  
Non-controlling interests   (682 ) 494     (872 ) 801  
    (11,113 ) 9,348     (16,013 ) 6,964  
             
Earnings (loss) per share            
Basic   (0.03 ) 0.03     (0.05 ) 0.02  
Diluted   (0.03 ) 0.03     (0.05 ) 0.02  


Interim Consolidated Statements of Comprehensive (Loss) Income
(Expressed in thousands of US dollars - unaudited)


    Three-month period     Six-month period  
    ended June 30,     ended June 30,  
    2018   2017     2018   2017  
    $   $     $   $  
             
Net (loss) income for the period   (11,113 ) 9,348     (16,013 ) 6,964  
             
Other comprehensive (loss) income            
Item that will be reclassified to profit or loss            
Changes in fair value of available-for-sale assets (net tax of nil)   n/a   (479 )   n/a   339  
Item that will not be reclassified to profit or loss            
Changes in fair value of equity investments at FVOCI (net of tax of nil)   (478 ) n/a     (1,031 ) n/a  
Total comprehensive (loss) income for the period, net of tax   (11,591 ) 8,869     (17,044 ) 7,303  
Attributable to:            
Equity shareholders   (10,909 ) 8,375     (16,172 ) 6,502  
Non-controlling interests   (682 ) 494     (872 ) 801  
    (11,591 ) 8,869     (17,044 ) 7,303  


Interim Consolidated Statements of Cash Flows
(Expressed in thousands of US dollars - unaudited)


    Three-month period
    Six-month period
 
    ended June 30,
    ended June 30,
 
    2018   2017     2018   2017  
    $   $     $   $  
             
Cash flows from (used in):            
             
Operating activities            
Net (loss) income for the period   (11,113 ) 9,348     (16,013 ) 6,964  
Adjustments for:            
Depreciation of property, plant and equipment   22,583   24,795     48,011   50,063  
Share-based compensation   613   (1,095 )   2,031   124  
Unrealized foreign exchange loss (gain)   991   (5,331 )   439   (6,339 )
Deferred income tax expense (recovery)   2,826   (4,035 )   (110 ) (3,916 )
Other   (61 ) (68 )   (128 ) (135 )
    15,839   23,614     34,230   46,761  
Changes in non-cash working capital items   5,039   (2,842 )   (10,597 ) (8,594 )
Net cash provided by operating activities   20,878   20,772     23,633   38,167  
      .      
Financing activities            
Drawdown of long-term debt     60,000       60,000  
Repayment of equipment financing   (78 ) (79 )   (155 ) (155 )
Payments of finance lease   (1,165 )     (2,310 )  
Proceeds on issuance of share capital, net of expenses   120   12     861   61  
             
Net cash (used in) provided by financing activities   (1,123 ) 59,933     (1,604 ) 59,906  
             
Investing activities            
Net proceed on disposition (acquisition) of equity investment   98       (1,508 )  
Acquisition of property, plant and equipment   (48,700 ) (43,864 )   (109,856 ) (81,096 )
Increase in restricted cash     (15,077 )     (15,077 )
             
Net cash used in investing activities   (48,602 ) (58,941 )   (111,364 ) (96,173 )
             
Effect of exchange rate changes on cash and cash equivalent   (1,702 ) 6,372     (744 ) 7,625  
Change in cash and cash equivalents during the period   (30,549 ) 28,136     (90,079 ) 9,525  
Cash and cash equivalents – beginning of period   139,420   255,161     198,950   273,772  
Cash and cash equivalents – end of period   108,871   283,297     108,871   283,297  
Interest paid   2,406   892     4,736   1,780  
Interest received   739   693     1,449   1,132  
Income tax paid   2,010   3,506     3,366   5,667  

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Paper in Scientific Reports Highlights Ability of 4D Pharma’s MRx0004 to Protect Against Airway Inflammation in Severe Asthma14.8.2018 08:00Pressemelding

Data suggest that MRx0004 is a promising next-generation therapeutic for management of asthma LEEDS, United Kingdom, Aug. 14, 2018 (GLOBE NEWSWIRE) -- 4D pharma plc (AIM: DDDD), a pharmaceutical company leading the development of live biotherapeutics, today announces the publication of a paper demonstrating that MRx0004, a live biotherapeutic derived from the human gut microbiome, can protect against airway inflammation by reducing both neutrophilic and eosinophilic infiltration in a mouse model of severe asthma. The paper “Bifidobacterium breve MRx0004 protects against airway inflammation in a severe asthma model by suppressing both neutrophil and eosinophil lung infiltration” (Raftis et al.) is published in the Nature Publishing Group journal Scientific Reports . Asthma is a phenotypically heterogeneous disease. Between 5-10 % of asthma patients have a severe form of the disease which is refractory to steroid treatment and whose symptoms cannot be controlled despite the application o

Bombardier Continues African Market Penetration with Pre-Owned Q40013.8.2018 17:19Pressemelding

PassionAir becomes first Bombardier operator in Ghana with three Q400 aircraft MONTREAL, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Bombardier Commercial Aircraft announced today that the company successfully placed three pre-owned Q400 turboprops with PassionAir from the Republic of Ghana. The airline acquired the aircraft through a dry-lease with a third party. “Bombardier has sold about 3,500 new regional aircraft to date, and we continue to be very active on the used aircraft market.” said David Speirs, Vice President, Asset Management, Bombardier Commercial Aircraft. “Our recent momentum on the pre-owned aircraft market worldwide is a clear indication that our products are addressing a growing need for regional air transportation, especially in emerging markets.” “Our market penetration in Africa continues to intensify, and we are pleased to welcome Passion Air as the first commercial airline operating a Bombardier regional aircraft in the Republic of Ghana,” said Jean-Paul Boutibou, Vice

SEMAFO: Armed Incident in Est Region13.8.2018 17:09Pressemelding

MONTREAL, Aug. 13, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX, OMX: SMF) regrets to report that an armed incident occurred between the town of Fada and the Boungou Mine site in the Est region of Burkina Faso. As a result, five gendarmes and one sub-contractor employee lost their lives. Operations at the Boungou Mine were not affected. As a precautionary measure, we will be increasing our security measures and continue to closely monitor the situation with our partners to protect the safety of SEMAFO employees and our operations. The Corporation would like to express its deepest sympathy to families of the victims. About SEMAFO SEMAFO is a Canadian-based mining company with gold 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 commercial production at the Boungou Mine in the third quarter of 2018. SEMAFO is committed to evolve in a conscientious manner to

Checkpoint Therapeutics Announces Clinical Data on EGFR Inhibitor CK-101 Selected for Late-Breaking Oral Presentation at IASLC 19th World Conference on Lung Cancer13.8.2018 14:00Pressemelding

NEW YORK, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Checkpoint Therapeutics, Inc. (“Checkpoint”) (NASDAQ: CKPT), a clinical-stage immuno-oncology biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers, today announced that preliminary safety and efficacy data from a Phase 1/2 clinical trial of CK-101 (also known as RX518), a third-generation epidermal growth factor receptor (“EGFR”) tyrosine kinase inhibitor (“TKI”) being evaluated in advanced non-small cell lung cancer, has been selected for a late-breaking oral presentation at the International Association for the Study of Lung Cancer (IASLC) 19th World Conference on Lung Cancer, to be held September 23-26, 2018, in Toronto. "We are thrilled to announce that preliminary data from the Phase 1/2 trial of our novel third-generation EGFR inhibitor has been selected for a late-breaking oral presentation at the World Conference on Lung Cancer. This marks the

Mash Group Plc reports interim unaudited financials, H1 2018 ended 30th June 201813.8.2018 08:00Pressemelding

Mash Group reports record H1/18 revenue, up 99% from H1/17. With H1/18 lending volumes surpassing full year 2017 and a strong EBIT of EUR 5.5 million achieved, Mash Group is extremely well positioned to continue executing on its growth plan, comments CEO Hickson . Mash continued to grow rapidly in all markets during the second quarter, achieving record lending volumes and maintaining strong momentum. Strategic Highlights Mash increases the size of its structured financing facility with funds managed by affiliates of Fortress Investment Group LLC (NYSE:FIG), from EUR 120 million to EUR 200 million. Mash was recognized as one of the Fintech50, Europe’s leading list of FinTech companies. AI Global Media, award CEO Hickson ‘Most Influential FinTech CEO of the year 2018’. Operational Highlights Mash continued to grow rapidly in all markets during the second quarter, achieving a record Q2 2018 in terms of lending volumes (+27%) and revenues (+36%) compared to Q1 2018. Registered merchants fo

ATPCO Awarded Patent for Cacheless Airline Ticket Pricing Model13.8.2018 06:00Pressemelding

Establishes Technology Foundational to Next-Gen Airline Revenue Management Tools DULLES, Va., Aug. 13, 2018 (GLOBE NEWSWIRE) -- ATPCO today announced that it has been awarded Patent #10,032,195 by the United States Patent and Trademark Office to cover new technology, developed by its data scientists and technical architects, that enables construction of airline ticket prices using graph database and “functional programming” techniques. This technology permits a unique approach to calculating airfare prices that was not previously available. Airline ticket prices are built using diverse individual data components: fares, flight schedules, taxes, and various legal and governance structures. An airline also sets business restrictions, known as rules, to determine under what circumstances a fare may be offered, such as requiring a Saturday-night stay or during pre-determined promotional sale dates. All these elements must be referenced and incorporated into the final price of an airline ti

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