MONTREAL, QUEBEC--(Marketwired - Aug. 26, 2013) - SEMAFO Inc. (SMF.TO)(SMF.ST) today announced that operations have been suspended at its Samira Hill mine in Niger. The Corporation's decision to suspend operations was disclosed in May 2013, noting that the mine would be placed in care and maintenance prior to year end.
The Nigerien authorities have been advised and procedures initiated with employees and the labor union regarding termination. Employees will remain on site at Samira Hill for upkeep purposes until September 30, 2013 pending the sale of the mine (see SEMAFO's press release dated July 17, 2013).
The cessation of operations at this time ensures an adequate inventory of supplies to resume normal activities in the event the transaction closes.
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates two gold mines: the Mana Mine in Burkina Faso and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release 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 "will", "pending", "ensures", "committed", "evolve", "become", "pursuing", "growth", "opportunities" 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 close the transaction of the sale of the mine, the ability to ensure an adequate inventory of supplies to resume normal activities, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or 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 2012 Annual MD&A, as updated in SEMAFO's 2013 First Quarter MD&A and Second 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.
The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.