MONTREAL, Dec. 4 /CNW Telbec/ - SEMAFO (TSX: SMF) reported today that the Company produced a record 21,000 ounces of gold during the month of November, 2008. The Mana mine produced a record 11,000 ounces of gold during the month, representing a 10% increase over the previous month. Production from the Samira Hill and Kiniero mines totaled 6,400 and 3,600 ounces of gold respectively.
"The Mana mine continues to make a strong contribution to our overall gold production results," said Benoit Desormeaux, Executive Vice-President and COO. "These strong results are an ongoing demonstration of our operating team's ability to deliver production results that not only meet but exceed expectation, and will contribute to what we anticipate to be another solid quarter."
Management recently increased its 2008 annual production guidance to between 185,000 to 195,000 ounces of gold.
Semafo is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining principles and strengthening relationships to increase shareholder value.
This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related to hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.