SMF Adds 1.3m oz, down 7.5% on the news Semafo reported 1.3 million oz increase in reserves, resulting in a massive selloff. This is what I've been saying - gold is now being treated as a contaminant, or hazardous waste, finding it is equivalent to finding PCBs or other toxic waste on your land. Volta executive should just take the little cash they have left and open a Tim Horton's in Ouagadougou before they stumble across any more gold.
BTW - Semafo, 7.3 million oz reserves, 1.325 billion market cap = $181/oz
Volta ~ 5 million oz, 90 million market cap = $18/oz
Obviously apples and oranges, but still interesting, especially since at ~4.80 Semafo's down about 65% from it's highs.