(Corrects headline and paragraph 1 of April 22 story to show that Semafo’s mine is in Burkina Faso, not South Africa)
* Study shows 5 pct rise in bedrock recovery at Mana
* Sees C$40 mln additional cash flow
* Says expects superior pre-feasibility study results
April 22 (Reuters) - Canadian gold miner Semafo Inc (SMF.TO) said studies showed a 5 percent rise in the recovery rate in a Burkina Faso mine, which would mean higher cash flow for the company.
“Based on the outcome of rock mechanics and metallurgical studies, we anticipate superior pre-feasibility study results,” Mining Operations Manager, Patrick Moryoussef said in a statement.
The new estimated average recovery rate of 81 percent at the Mana mine would add over C$40 million in cash flow from the bedrock reserves, the company said.
The study by SGS South Africa and Golder Associates showed better-than-expected results including a fall in the estimated reagents consumption to process the ore.
The company now expects results of pre-feasibility and feasibility studies in the second and third quarters.
Shares of the company were up 1.3 percent at C$5.9 in morning trade on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Savio D‘Souza)