SEMAFO Inc. reported production results for the fourth quarter and full year of 2014. For the quarter, 61,800 ounces of gold were produced against 35,700 ounces a year ago, at a total cash cost of approximately $600 per ounce.

For 2014, the company reported production of 234,300 ounces against 158,600 ounces, at a total cash cost of $650 per ounce at its Mana Mine. This represents a 48% year-over-year increase in production and a 16% decrease in total cash cost, both of which are attributable to the mine plan for the high-grade Siou and Fofina deposits. As a result, the corporation has achieved its production guidance at Mana for the seventh consecutive year.

For 2015, the corporation's guidance outlines continued gold production growth coupled with a further decline in costs. 2015. The company expects production of between 245,000 and 275,000 ounces of gold, an 11% increase over the 2014 gold production, total cash cost of between $575 and $605 per ounce, a 9% decrease relative to $650 per ounce in 2014, all-in sustaining cost of between $715 and $750 per ounce, a 9% decline compared to 2014, capital expenditures of $37 million initial exploration budget of $18 million.