cash costs at semafo, page-13

Actually, -39%in two days. Downgrades plus less reserves, not to mention late results:

http://business.financialpost.com/2012/07/12/gold-miner-semafo-plunges-22-after-wave-of-downgrades/

"In its update Wednesday, SEMAFO said that its total reserves fell to 2.65 million ounces, from a previous tally of 2.817 million ounces."
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Yet, overdone in losing C$300m from market cap, say some:

http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=155015&sn=Detail&pid=102055

Recovery <50% for some areas, but not all.
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Tough market. :/