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Semafo Inc. T.SMF

Semafo Inc is a Canadian mining company with gold production and exploration activities in Burkina Faso. The company's main operations are in Boungou, Burkina Faso, and Mana, Burkina Faso. Boungou is a relatively new production site that is located in southeastern Burkina Faso. The Mana project, which has been in operation longer, includes the Siou deposit, which is about 20 kilometers from the Mana Mine in Burkina Faso. Semafo has developed exploration strategies for future deposits in West Afr


TSX:SMF - Post by User

Bullboard Posts
Post by Bankorruptseeon Jun 22, 2013 7:46am
434 Views
Post# 21563488

Sitting on gold or close mine.

Sitting on gold or close mine.

Posting here has certainly dried up. Looks like interest in Semafo has certainly fallen off a cliff along with the share price. The real all-in cost for Semafo is now higher than the market price, for paper gold anyway. Semafo need to stop selling gold. (Maybe for a while they could sell something else to keep the lights on. Time-shares in Florida or something.) Or just plain close Mana and put it on care & maint. They should NOT, however, continue to mine gold just to say they are a miner. Shutting it down, or cutting back operations and storing gold till prices come back would be the way to go. Sure, that'll hurt the share price. But how would that be a new thing for Semafo. Last I looked, their share price is hurting pretty well already, closing at a new low of $1.39, that's 9.6 cents on the dollar from its peak. Can they do worse? Store gold, mine less, or just close it down. Better, start smuggling your gold to the Indian market. Black market the gold. Don't go through the metals markets. They are a sham.

Bullboard Posts