Operationally we delivered another solid performance in 2010, resulting in a new annual gold production record of 261,100 ounces. Our operating team’s dedication and unique savoir-faire once again brought our organization to new heights as we achieved our best-ever production and cost guidance for a third consecutive year. SEMAFO’S gold production has increased by 175% over the past five years to reach a record 261,100 ounces in 2010.

As organic growth projects progress on our existing properties and new development targets emerge, we are effectively setting the stage for the next wave of growth and value creation. Fundamental to our sustainable growth strategy is our commitment to continued exploration. In 2010, we invested $18.2 million at Mana as part of our accelerated and expanded exploration programs on our more than 1,995 km² of permitted land. We successfully increased inferred resources by 108% over 2009.

SEMAFO proudly adheres to the Extractive Industries Transparency Initiative (EITI) in all of the countries in which we operate.

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