Build an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition by focusing on:
- Met annual production guidance for nine consecutive years
- Delivered 240,200 ounces in 2016 - one of Mana's highest production levels
- Advanced timelines twice in order to bring the Siou deposit from discovery to production in 18 months and on budget
- Took our Natougou project from scoping study to feasibility study in under one year, ahead of schedule and on budget
Our objective is to maintain a steady pipeline of high quality development projects in order to enhance our production base and growth profile as well as to add incremental value to existing assets.
- As at December 31, 2016, consolidated proven and probable mineral reserves stood at 3 million ounces of gold at 3.31 g/t. Consolidated measured and indicated mineral resources remained constant at 3 million ounces. Reserves and resources were estimated using a gold price of $1,100 and $1,400 per ounce, respectively.
- The Corporation holds an extensive land package of some 7,100 square kilometers, comprising 2,145 square kilometers at Mana, 800 square kilometers at Tapoa (Natougou) and 4,155 square kilometers over the prospective Houndé, Banfora, Diapaga and Senoufo belts.
- Our goal is to achieve first gold pour at Natougou in the second half of 2018.
- As at December 31, 2016, cash and cash equivalents totalled $274 million.
- In 2016, we generated $142 million in cash flow from operating activities at Mana.
- As at December 31, 2016, long-term debt totalled $57 million.
Through its support of the non-profit SEMAFO Foundation, the Corporation demonstrates its commitment to sharing the benefits of its activities with local communities and host countries throughout the life cycle of our mine and long after its eventual closure.
- During the six years ending June 30, 2016, beneficiary communities in Burkina Faso generated income of C$4.4 million through agri-business projects supported by SEMAFO Foundation.
Our strategy is to create economic value by operating in a safe, socially and environmentally responsible manner while promoting and protecting the welfare of our employees. Through joint inspections, health and safety training, orientation sessions and our national workforce recruitment program, we encourage employee participation in health and prevention program activities, in particular through raised awareness and training.
- As at December 31, 2016, our accident frequency rate stood at 1.85 per 200,000 hours worked.