SEMAFO Inc. reported unaudited consolidated operating and earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported ore mined of 503,200 tonnes against 564,500 tonnes a year ago. Ore processed was 675,500 tonnes against 604,500 tonnes a year ago. Waste mined was 3,947,600 tonnes against 4,809,700 tonnes a year ago. Gold ounces produced was 47,600 against 61,300 a year ago.

For the six months, the company reported ore mined of 982,600 tonnes against 1,064,800 tonnes a year ago. Ore processed was 1,407,300 tonnes against 1,287,400 tonnes a year ago. Waste mined was 8,586,000 tonnes against 8,269,100 tonnes a year ago. Gold ounces produced was 103,000 against 122,600 a year ago.

For the quarter, the company reported revenue of $59,315,000 against $76,590,000 a year ago. Operating loss was $755,000 against operating income of $14,428,000 a year ago. Net income for the period was $9,348,000 against $7,078,000 a year ago. Net income attributable to equity shareholders was $8,854,000 or $0.03 per share basic and diluted against $5,304,000 or $0.02 per share basic and diluted a year ago. Adjusted operating loss was $2,754,000 against adjusted operating income of $18,911,000 a year ago. Adjusted net loss attributable to equity shareholders was $2,893,000 or $0.01 per share against adjusted net income attributable to equity shareholders of $14,394,000 or $0.05 per share a year ago. Cash flows from operating activities was $23,614,000 or $0.07 per share against $37,390,000 or $0.12 per share a year ago. Income before income taxes was $5,827,000 against $11,225,000 a year ago. Acquisitions of property, plant and equipment were $43,864,000 against $20,397,000 a year ago.

For the six months, the company reported revenue of $126,201,000 against $151,146,000 a year ago. Operating loss was $2,540,000 against operating income of $32,264,000 a year ago. Net income for the period was $6,964,000 against $25,769,000 a year ago. Net income attributable to equity shareholders was $6,163,000 or $0.02 per share basic and diluted against $21,488,000 or $0.07 per share basic and diluted a year ago. Adjusted operating loss was $4,643,000 against adjusted operating income of $38,984,000 a year ago. Adjusted net loss attributable to equity shareholders was $7,267,000 or $0.02 per share against adjusted net income attributable to equity shareholders of $25,355,000 or $0.08 per share a year ago. Cash flows from operating activities was $46,761,000 or $0.14 per share against $72,594,000 or $0.24 per share a year ago. Income before income taxes was $5,283,000 against $34,041,000 a year ago. Acquisitions of property, plant and equipment were $81,096,000 against $39,940,000 a year ago.

For the year 2017, the company reiterates its 2017 outlook 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.