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SEMAFO celebrates first gold at Boungou

West Africa-focused miner SEMAFO (TSX:SMF) has poured first gold at the Boungou mine in Burkina Faso after construction finished slightly ahead of plan.
SEMAFO celebrates first gold at Boungou SEMAFO celebrates first gold at Boungou SEMAFO celebrates first gold at Boungou SEMAFO celebrates first gold at Boungou SEMAFO celebrates first gold at Boungou

SEMAFO Boungou power plant in Burkina Faso

Staff reporter

The first pour yielded 325 ounces of gold, indicating the start of an upwards trajectory for the Montreal-headquartered company in 2018, following a disappointing 2017 performance.

"The first gold pour at Boungou marks an important milestone in SEMAFO's growth trajectory as it signals the beginning of a significant increase in production and cash flow," said CEO Benoit Desormeaux.

At the end of May, the company had completed 17.2 million of the planned 18 million metric tonnes of pre-stripping at Boungou and about 172,000t of ore had been stockpiled for future processing - in line with expectations.

The C$1.23 billion company aims to increase production 21% in 2018 to 235,000-265,000oz, with the start and successful ramp up of Boungou critical to the outlook.