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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 Bobwinson Apr 29, 2009 10:56am
481 Views
Post# 15952598

High River 2008 statement

High River 2008 statementHigh River posted it's 2008 statement today.  Very high cash costs but it is cashflow positive.  $0$0$0$0Taparko continues to have mill vibration problems.  Company is saying they don't think they will ever get to planned capacity on mill.  Says original FS plan of 1million tonnes a year is too high and will likely peak at 800,000tonnes per year.   Cash costs were stated at $806/oz of gold produced.  $0$0$0$0$0High River continues to be in violation of Royal Gold loan covenants.   The continual replacement of board and officers is sad to read.  $0$0$0$0$0Don't know if Taparko was Semafo's target but definitely sounds like a troubled mine.  Not sure this would be worth buying unless Semafo can get a deal.  $0$0$0$0$0Bobwins$0
Bullboard Posts