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Friday, 21st January 2005 (4146 views)

Shares of the Montreal-based miner Semafo leapt by 10 per cent yesterday following the publication of strong results.<br/><br/>Semafo, which is working on projects in West Africa, announced a 35 per cent increase in gold production in 2004 and said it would triple output over the coming twelve months.<br/><br/>Overall gold production rose from 46,728 ounces in 2003 to 63,055 ounces last year, with this year's production target being set at 180,000 ounces.<br/><br/>According to the Canadian Press, Semafo shares closed 12 cents up at $1.28 on the Toronto Stock Exchange after the results were published.<br/><br/>Semafo attributed the jump in output to the successful start of operations at its Samira Hill gold mine in Niger.<br/> <br/>Semafo also owns the Kiniero mine in Guinea and the Mana gold deposit in Burkina Faso, which is currently at the feasibility study stage.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7614934"/>

 

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