Friday, 21st January 2005 (3009 views)

Shares of the Montreal-based miner Semafo leapt by 10 per cent yesterday following the publication of strong results.

Semafo, which is working on projects in West Africa, announced a 35 per cent increase in gold production in 2004 and said it would triple output over the coming twelve months.

Overall gold production rose from 46,728 ounces in 2003 to 63,055 ounces last year, with this year's production target being set at 180,000 ounces.

According to the Canadian Press, Semafo shares closed 12 cents up at $1.28 on the Toronto Stock Exchange after the results were published.

Semafo attributed the jump in output to the successful start of operations at its Samira Hill gold mine in Niger.

Semafo also owns the Kiniero mine in Guinea and the Mana gold deposit in Burkina Faso, which is currently at the feasibility study stage.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.