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TSX: SMF
MANA MINE
KORHOGO
Côte d’Ivoire
115 km
Niger
Benin
Togo
Ghana
SEMAFO PROPERTYELECTRIC LINE
Ouagadougou (Capital)
Mana
BURKINA FASO
BANTOU
≈260 km
NABANGA
NATOUGOU
‘000 oz $ oz
158,6
234,3255,9
240,2
205$ 777
$ 649
$ 495$ 548
$ 700
$1 242
$ 805
$ 648$ 720
$ 940
$ 0
$ 200
$ 400
$ 600
$ 800
$1 000
$1 200
$1 400
0
50
100
150
200
250
300
350
400
2013 2014 2015 2016 2017 Guidance
Mana Production '000 ounces Total cash cost ($/oz) All-in sustaining cost ($/oz)
190
SEMAFO SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high-grade satellite deposit of Siou, and is targeting production start-up of the Boungou Mine in the second half of 2018. SEMAFO’s strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
INVESTOR INFORMATION Price
C$3.06
Market Capitalisation
C$1.0B
Shares Outstanding
324.8M
52-Week High / Low
C$7.46/ $2.68
Ave. Daily Volume
4.7M
EXTENSIVE LAND PACKAGE
MANA PRODUCTION AND COST PROFILE
2017 Guidance
Production (000s oz) 190-205
Total cash cost (per oz)1 685-715
All-in sustaining cost (per oz)2 920-960
1 Total cash cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the mining operation expenses and government royalties per ounce sold.
2 All-in sustaining cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the total cash cost, plus sustainable capital expenditures and stripping costs per ounce.
PRODUCTION AND COST PROFILEWHY INVEST?
$255M IN CASH AS OF MARCH 31, 2017
CONSTRUCTION OF NATOUGOU UNDERWAY: FIRST GOLD POUR EXPECTED IN H2 2018
EXPLORATION UPSIDE: NATOUGOU UNDEREXPLORED (773 km2)
STRONG SOCIAL LICENCE
UNEARTHING THE FUTURE
Updated on May 10, 2017
NATOUGOU FEASIBILITY STUDY HIGHLIGHTS
•Project economics at $1,100/oz:•After-tax NPV 5%: $262 million•After-tax IRR: 48%•Payback period: 1.5 years
During the first three years: • Average annual production of more than
226,000 ounces • Average total cash cost of $283/oz and
AISC of $374/oz• Average head grade 5.72 g/t at a gold recovery
rate of 93.8%• Production of some 1.2 million ounces over a
projected LOM in excess of 7 years• Projected LOM total cash cost of $408/oz and
all-in sustaining cost of $518/oz• Maiden open pit mineral reserves of 9.6 million
tonnes at a grade of 4.15 g/t Au for 1,276,000 ounces of gold
• CAPEX: $231 million2017 STRATEGYNATOUGOU - BOUNGOU MINE• Achieve first concrete pour for the
processing plant in Q2 • Convert inferred resources on
the West Flank Zone into indicated category
• Evaluate potential for an underground operation
• Initial exploration budget of $15 million with the aim of increasing reserves and resources
MANA MINE• Deliver our production and cost
guidance• Test underground potential at Siou• Initial exploration budget of $5 million
within trucking distance of the mine
2016 2017 2018Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
11
CONSTRUCTION OF THE BOUNGOU MINE
SCHEDULE MILESTONES
Unearthing the future
Mining Permit Award
Detailed Engineering
Earthworks
Construction Accommodation
Water Storage Facility & Dams
Tailing Storage Facility
Milling & Feed Preparation
Leaching & CIP Circuit
Gold Room
Plant Services
Power Plant
Fuel Depot
Pre-Stripping
Mining Ore
1st Gold Pour
Process Plant
BOUNGOU MINE
Forward-looking Statement:“This fact sheet contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “growth”, “strategy”, “under “targeted”, “guidance”, “projected”, “payback”, “schedule”, “milestones”, “initial”, “creating”, “objective”, “expand”, “continue”, “next steps”, “evaluate”, “potential”, “prospective”, “priorities” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to start production at boungou (Natougou) in H2 2018, the ability to meet our 2017 guidance of between 190,000 and 205,000 ounces of gold at a total cash cost of between $685 and $715 per ounce and all-in sustaining cost of between $920 and $960 per ounce, the ability to achieve the highlights of Natougou’s feasibility study in terms of (i) after-tax NPV and IRR, (ii) payback period, (iii) average annual production, total cash cost and AISC, (iv) projected LOM, LOM total cash cost (TCC) and all-in sustaining cost (AISC), the ability to meet Natougou’s construction milestones, the ability to meet Boungou’s (Natougou) initial production schedule, ore feed, grade, gold recovery, TCC and AISC, the ability to expand reserves and resources, the ability to drill up the inferred resources into the indicated category in H1 2017, the ability to evaluate the potential for an underground operation, the ability to execute on our 2017 priorities, the accuracy of our assumptions, fluctuation in the price of currencies, gold prices and operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2016 Annual MD&A, as updated in SEMAFO’s 2017 First Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.All mineral resources are exclusive of mineral reserves.All amounts are in US dollars unless otherwise indicated.
For more information, contact:
SEMAFO
Tel. local & overseas: +1 (514) 744-4408 Toll-Free: 1 (888) 744-4408
www.semafo.com
Robert LaVallière, Bs. Sc. Geology, MBA
Vice-President, Corporate Affairs & Investor Relations Tel.: +1 (514) 744-4408, Ext. 3405 Robert.Lavalliere@semafo.com
Ruth Hanna
Analyst, Investor Relations Tel.: +1 (514) 744-4408, Ext. 3400 Ruth.Hanna@semafo.com
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