Description
Cluff Gold plc is focused on the identification, acquisition and development of gold deposits in West Africa that are amenable to open-pit mining and low cost production techniques.
The Group has assembled a portfolio of mineral interests at various stages of development in Côte d’Ivoire, Burkina Faso, Sierra Leone, Mali and Ghana. Cluff Gold progressed from being an explorer to a producer in Q1, 2008. The aim is to provide a steady progression of mines coming into production and to have the capacity to produce 300,000 ounces of gold annually.
Share Price
In-depth Cluff Gold Proactive Investors Articles
More news ►Recent Cluff Gold news
- 08/03/2010 Cluff Gold aiming to add more ounces in 2010
- 08/03/2010 Cluff Gold looks to prove up gold potential with 2010 drill campaign
- 19/02/2010 Cluff Gold's shares rally after bid approach
- 11/02/2010 Cluff Gold on track to achieve 100,000 oz production target in 2010
- 01/12/2009 Cluff Gold taps Peter Spivey as new Chief Operating Officer
Presentations & Company Media
No Documents available.
Related Research & Media
No Documents available.
Company Statement:
The Board, which has considerable experience developing mining operations across Africa, believes that West Africa is one of the most exciting regions for gold exploration and production today. West Africa combines prospective geology with sound mining investment codes, indicative of a region which is keen to attract and retain foreign investment.
Cluff Gold plc has made significant progress since the Company floated on AIM in December 2004, increasing gold resources across its projects, transforming from an explorer to a producer; expanding the project portfolio and broadening the investor base to an increasingly international audience.
Key Information
* Successful management team with a proven track record in exploration and mine
development in Africa
* Increase in total mineral resources to over two million ounces of gold
* Short-term aim to acquire/develop three million resource ounces
* Mid-term aim to have the capacity to produce 300,000 ounces of gold annually
* Portfolio of mining and exploration interests in Côte d’Ivoire, Burkina Faso, Sierra Leone,
Mali and Ghana
Current Operations:
Baomahun, Sierra Leone
* Cluff Gold now owns 100% of the Baomahun Gold Project
* 25 year mining lease for the Baomahun Gold Project granted in July 2008
* Over 25,000m of core drilling planned this year
* Total mineral resource of 1,353,000 ounces of gold (JORC)
* Soil sampling and geophysics point to significant potential along strike
* Exploration currently underway, targeting existing and new areas
* Prefeasibility study underway
* Two rigs recommenced core drilling on 1st November 2007
Angovia, Cote d'Ivoire
* First gold pour on 14th March 2008, planned annualised production of 40,000 ounces.
* More than 31,000 meters of Reverse Circulation (“RC”) drilling completed to date.
* JORC-compliant Mineral Resource has increased by 50% to 496,000 ounces.
* Further exploration drilling targeting the underlying sulphides and other satellite prospects
is planned in 2008.
Kalasaka, Burkina Faso
* JORC-compliant Total Mineral Resource of 790,000 ounces.
* JORC-compliant Total Reserve of 323,000 ounces (at a gold price of US$525 per ounce).
* Ore bodies amenable to open-pit mining and heap leach processing methods.
* Cluff Gold has a 78% ownership in the Kalsaka Gold Project, the remaining interest being
held by the Company's local partner, IMAR-B (12%) and the Government of Burkina Faso
(10% free-carried interest).
* 20 year Mining and Water permits granted.
* Construction on schedule to commence production in H2, 2008 at an annualised rate of
60,000 ounces with significant potential to increase.
Karbasso, Mali
• JV signed in September 2005
• Located in Southern Mali, 20km along strike of Resolute’s Syama Mine (5 million ounces)
• Favourable geological setting
Akropong, Ghana
The Company has set up an office in Accra, the capital of Ghana, and preliminary reconnaissance work has been carried out on the recently awarded Akropong Licence. In the main, the office in Ghana is used for logistical support for the construction of the Kalsaka Gold Project in Burkina Faso. All plant and associated equipment for the Kalsaka Gold Project is imported using the Tema port in Ghana.
Ghana and Mali continue to be leading gold producers in West Africa with significat potential for additional discoveries in both countries.
Management
Board of Directors
Algy Cluff, Chairman & Chief Executive.
Douglas Chikohora, MSc., MIMMM, Technical Director.
Eileen Carr, FCCA, MSc, Sloan, Finance Director and Joint Deputy Chairman.
Nicholas Berry, Non-Executive Joint Deputy Chairman.
Bobby Danchin, BSc, MSc, Non-Executive.
Tim Wadeson, FIMMM, PEng, ACSM, Non-Executive Director.
Peter Cowley, B.Sc, M.Sc, FIMMM and M.B.A. Non-Executive Director.
Ronald Winston, Non-executive Director.
Geoff Stanley, Non-Executive Director.
For more information on Cluff Gold's Directors click HERE
Major Shareholders
|
Fund Manager / Shareholder |
Number of Shares |
% Holding |
|
R Winston |
12,383,591 |
12.8 |
|
JP Morgan |
8,307,000 |
8.6 |
|
Ingalls & Synder LLC |
7,128,800 |
7.4 |
|
Libra Advisors LLP |
6,875,000 |
7.1 |
|
Africa Emerging Markets Fund |
6,250,000 |
6.5 |
|
Golden Cat Capital LLC |
6,175,000 |
6.4 |
|
Tocqueville Gold LLP |
5,325,000 |
5.5 |
|
Woolwich International Holdings |
4,109,091 |
4.2 |
|
Total Shares over 3.0% |
56,553,482 |
58.4 |
|
Shares in Issue |
96,769,300 |
|
The percentage of AIM securities not held in public hands is 16.48%
|
Director's Information |
Number of Shares |
% Holding |
|
JG Cluff & Family |
1,870,000 |
1.93 |
|
DD Chikohora |
528,409 |
0.55 |
|
P Cowley |
Nil |
0.00 |
|
E Carr |
129,345 |
0.13 |
|
T Wadeson |
23,663 |
0.02 |
|
RV Danchin |
23,663 |
0.02 |
|
N Berry |
991,328 |
1.02 |
| G Stanley |
Nil |
0.00 |
|
R Winston |
12,383,591 |
12.8 |
|
Total Director's Shares |
15,949,999 |
16.48 |
Last updated: 10/03/2008
Share Price Summary as at 20.11.2008
Currency (GBp)
Code CLF
Price 21.50
Last closing price 22.00
Change -0.50
Bid 21.00
Ask 22.00
Day high 22.00
Day low 21.50
Year high 110.00
Year low 10.25
Day volume 36,932
Market capital £20.81M
Shares in issue 96.77M
Contact Information
Head Office & Registered Address
Cluff Gold plc
24 Queen Anne’s Gate
London
SW1H 9AA
Tel: +44 (0) 207 340 9790
Fax: +44 (0) 207 222 9477
Email: admin@cluffgold.com
Corporate Information
No info available.
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