Between 2019 and 2023, SEMAFO Inc. plans to produce 413,000 oz of gold yearly at Mana and Boungou mines in Burkina Faso. 209,000 oz will be produced at Mana and 204,000 oz at Boungou. With an estimated cost of $696 per ounce, the company expects $1.25 billion cash flow.

SEMAFO explains that its projections are based on the increase of reserves and resources at the two mines. At Mana for instance, the reserves increased by 188,000 oz thanks to Siou deposit. At Boungou, those reserves have increased by 203,000 oz, explaining the company’s estimate of 200,000 ounces yearly, in the pre-feasibility study.

Let’s recall that SEMAFO is a Canadian mining company involved in gold exploration and production in West Africa.

Louis-Nino Kansoun