SEMAFO Inc. (SEMAFO) is a mining company with gold production and exploration activities in West Africa. The Company operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. The Mana property is located 200 kilometers west of Ouagadougou, the capital city of Burkina Faso. The Samira Hill Mine is located 90 kilometers west of Niamey, the capital of Niger, on the 50 kilometers gold belt referred to as the Samira Horizon. The Kiniero Mine is located in central Guinea, approximately 650 kilometers east of the capital of Conakry. During the year ended December 31, 2011, the total annual gold production for the Samira Hill Mine property was 46,700 ounces of gold. In October 2012, Monteray Mining Group Ltd acquired Vema Resources Pty Ltd, which includes 100% interests in three newly issued gold exploration permits, covering an area of 416 square kilometers proximal to SEMAFO�s Mana gold mine in Central western Burkina Faso.