Below is Semafo's Bongou mine, which has now gone into commercial production.
Semafo Inc (SEMFF) is a Canadian based gold miner with operations in
Burkina Faso and Côte d’Ivoire. Please read my previous articles here and here for background.
Investment thesis
Semafo is increasing year on year gold production and has guided for another substantial increase of 68% in 2019. The company has a good record of delivering on guidance and this gives an additional level of confidence. The share price metrics look compelling. I have calculated the end 2019 P/E and price