Our Strategy

Build an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition by focusing on:

Operational Consistency

  • Delivered 244,600 ounces in 2018
  • Took our Boungou project from scoping study to feasibility study in under one year, ahead of schedule and on budget
  • Brought Boungou into commercial production on time and on budget
  • Advanced timelines twice in order to bring the Siou deposit from discovery to production in 18 months and on budget

Quality Pipeline

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, 2018, consolidated proven and probable mineral reserves stood at 2.9 million ounces of gold at 3.4 g/t. Measured and indicated mineral resources reached 3.0 million ounces. Reserves and resources were estimated using a gold price of $1,200 and $1,400 per ounce, respectively.
  • The Corporation holds an extensive land package of some 4,830 square kilometers, comprising 2,035 square kilometers at Mana, 655 square kilometers at Tapoa (Boungou) and 2,140 square kilometers over the prospective Houndé, Diapaga and Senoufo belts.

Financial Discipline

  • As at December 31, 2018, cash and cash equivalents totalled $122 million.
  • In 2018, we generated $110 million in cash flow from consolidated operating activities.
  • As at December 31, 2018, long-term debt totalled $117 million.

Sustainable Communities

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 nine years ending June 30, 2018, beneficiary communities in Burkina Faso generated income of C$6.6 million through agri-business projects supported by SEMAFO Foundation.

Prudent Mining

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 30, 2018, 701 days had been worked at Mana without lost-time injury
  • Construction completed at Boungou with 5.6 million man-hours (18 months) without lost-time injury