GlobeNewswire

SEMAFO Inc. : Q4 and Annual 2017 Production and Costs in Line

Del

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.

Mana

  • 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)

Mining Operations
Mana, Burkina Faso

    Three-month  period   Year
    ended December 31,   ended December 31,
    2017 2016 Variation   2017 2016 Variation
                 
Tonnes processed   653,500 714,200 (8%)   2,739,900 2,753,300
Head grade (g/t)   2.43 2.52 (4%)   2.46 2.88 (15%)
Recovery (%)   97 95 2%   95 94 1%
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.

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: 
http://resource.globenewswire.com/Resource/Download/4bb6aae4-6661-4c83-9f47-7830ae941693

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.

About SEMAFO
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:

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

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

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




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

BrandSafway™ Announces Acquisition of Century Elevators22.2.2019 20:00:00Pressemelding

Enhances motorized access capabilities in industrial and commercial construction markets throughout the Gulf Coast and beyond Kennesaw, Georgia, USA, Feb. 22, 2019 (GLOBE NEWSWIRE) -- KENNESAW, Georgia; February 22, 2019 – In a move to expand its motorized capabilities and offer a full suite of access technologies throughout the Gulf Coast, Brand Safway is pleased to announce the acquisition of Century Elevators, effective February 22, 2019. The leading rack and pinion elevator specialist in North America, Century Elevators provides construction and industrial elevators, material hoists, and transport platforms in the Gulf Coast region and beyond. Century Elevators is also the exclusive distributor of PEGA Hoist Ltd. products throughout North America and Böcker Maschinenwerke GmbH (Boecker) equipment in the United States. “Century Elevators is a very welcome addition to BrandSafway,” said Dave Witsken, president of Energy and Industrial at BrandSafway. “With the outstanding experience

Open Compute Project Announces Updated Market Forecast22.2.2019 16:39:00Pressemelding

Open Source Foundation Exceeds 2018 Forecast for Non-Board Member Adoption, Tops $2.56 billion and expected to surpass $10 billion by 2022. Austin, Texas, Feb. 22, 2019 (GLOBE NEWSWIRE) -- The Open Compute Project Foundation (OCP) announces today the high level results of a follow up assessment of the market impact of the Open Compute Project worldwide. For a second year, OCP has engaged IHS Markit, a world leader in critical information, analytics and solutions, to determine the adoption and impact of OCP gear in the technology industry. Since its inception, OCP has worked to drive innovation in and around the data center industry, bringing together thousands of engineers from nearly two hundred member organizations. The demands on the modern datacenter continue to expand with the growth of IOT, security and edge computing, as well as increasing energy consumption requirements. IHS Markit interviewed OCP members, suppliers and service providers, as well as incorporated their own in-de

Magna Announces Fourth Quarter and 2018 Results and Raises Quarterly Cash Dividend by 11%22.2.2019 11:00:00Pressemelding

Fourth Quarter 2018 Highlights Record fourth quarter sales of $10.1 billion up 5% from the fourth quarter of 2017 Cash from operations of $1.6 billion Returned $585 million to shareholders through share repurchases and dividends Raised quarterly cash dividend by 11% to $0.365 per share Full Year 2018 Highlights Record sales of $40.8 billion, up 12% from 2017 Record diluted earnings per share of $6.61, an increase of 13% Record cash from operations of $3.7 billion Returned approximately $2.3 billion to shareholders through share repurchases and dividends AURORA, Ontario, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2018. THREE MONTHS ENDED DECEMBER 31, YEAR ENDED DECEMBER 31, 2018 2017 (2) 2018 2017 (2) Reported Sales $ 10,137 $ 9,684 $ 40,827 $ 36,588 Income from operations before income taxes $ 607 $ 765 $ 2,951 $ 2,985 Net income attributable to Magna International I

IMImobile announces integration of WhatsApp Business solution into its enterprise cloud communications platform IMIconnect22.2.2019 10:37:00Pressemelding

The WhatsApp Business solution will be made available across its enterprise cloud communications platform IMIconnect allowing businesses to launch business-to-consumer communications on WhatsApp LONDON, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Global cloud communications software and solutions provider IMImobile PLC, today announced the integration of the WhatsApp Business solution into its enterprise cloud communications platform IMIconnect. The WhatsApp Business solution enables businesses to connect with over 1.5 billion users in a simple, reliable, and private way across 180 countries worldwide. As a WhatsApp Business solution provider, the IMIconnect platform will enable enterprises to seamlessly integrate the WhatsApp Business solution into their customer communications strategies, and drive engagement through intelligent and context-aware messaging. “We are excited to announce the integration of the WhatsApp Business solution today in our IMIconnect platform. We understand that today’s

Nordic Innovators Cloudstreet and Domos Partner to Deliver an End-to-End, Application-Aware 5G Experience to the Home22.2.2019 09:00:00Pressemelding

Cloudstreet’s carrier-grade API and Network Slicing platform with Domos’ Machine Learning Solution for home networks delivers intelligent connectivity out of the box Barcelona, Spain., Feb. 22, 2019 (GLOBE NEWSWIRE) -- Finland’s Cloudstreet, the US-patented Network Slicing Company, and Norway’s Domos, a leader in Machine Learning technologies for the smart home, are pleased to announce that they have teamed up to create the industry’s first end-to-end, intelligent application and context-aware network slicing solution for home networks. The solution will be on display February 25-28 at the Mobile World Congress in Barcelona in Hall 5, stand 5C41. A perfect example of MWC’s aspirational theme, “Intelligent Connectivity”, the solution closes the loop on delivering a 5G experience to fixed wireless home networks. The combined technologies solve two key, last-mile problems that have plagued mobile-enabled home networks: 1) How to build application-awareness into the network without comprom

General Electric Company: Doc re. GE Files Form 8-K22.2.2019 08:00:00Pressemelding

FAIRFIELD, Conn., Feb. 22, 2019 (GLOBE NEWSWIRE) -- Company General Electric Company ISIN US3696041033 Symbol London: GEC | Paris: GNE Headline Doc re: GE files Form 8-K February 21, 2019 On February 21, 2019, General Electric Company (the "Company") filed a Form 8-K with the U.S. Securities and Exchange Commission ("SEC"), which has been submitted to RNS. It is also available on the SEC's website at http://www.sec.gov and on the Company's website at https://www.ge.com/investor-relations/events-reports. http://www.rns-pdf.londonstockexchange.com/rns/8048Q_1-2019-2-21.pdf CONTACT: GE Jennifer Erickson +001 646 682 5620 jennifer.erickson@ge.com This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit