SEMAFO Inc

SEMAFO is a Canadian mining company conducting exploration, development and production activities in West Africa . In 2002, Semafo began producing gold at its Kiniero mine in Guinea . In Niger , the Samira Hill mine began its operations in October 2004. As at December 31, 2006, the mine had a life expectancy of eight years. In Burkina Faso , the last environmental studies of the Mana project have been completed and all the permits have been obtained. Construction has started and mining equipment was bought and received on site. Semafo expects to produce gold at the Mana project in Q1 2008. Semafo continues its exploration programs targeting the replacement of mined reserves from its operating mines, the discoveries of new structures and of new gold deposits.
Hence, Semafo’s development plan foresees the completion and the start-up of its new Mana mine in 2008. This mine will have an annualized production of 125,000 oz of gold thus enabling Semafo to reach a yearly gold production of approximately 250,000 ounces, therefore contributing to the growth of its profitability.