28th April 2006:

UK smallcap opening - Cluff Gold sparkles on Investors Chronicle tip
LONDON (AFX) - Investors Chronicle 'buy' advice put the sparkle in Cluff Gold,
4-1/2 pence better at 78.5p

I must be crazy, trying to draw attention to a gold-mining stock in the midst of the current sell-off, but for what it's worth, this one could have decent prospects. "Shares" Magazine of 18th May 2006 also gave this stock a favourable comment in its review of all AIM shares.

Financially speaking, CLF is in a strong position, having raised 15 million in a placing in April. They have numerous prospects in their portfolio and attributable resources of 1 million ounces gold.

IN NO WAY am I suggesting that now is the right time to buy; rather it may be worth adding to a watchlist and looking out for as a potential resident of the bargain basement once the markets even out a little.

Without further ado, here's a nice chart and the AGM statement, released 18th May 2006. Comments, brickbats and plaudits are welcome, as ever.





Cluff Gold PLC - AGM Statement
RNS Number:1695D
Cluff Gold PLC
18 May 2006


Cluff Gold Plc (the 'Company')

AGM Statement


At the Company's AGM, to be held today at 10.00am at the offices of Maclay
Murray & Spens, 1 London Wall, London EC2Y 5AB, the Chairman and Chief Executive
Mr J G Cluff will be making the following statement:

'Ladies and gentlemen, it is fair to say that, operationally speaking, your
Company has progressed satisfactorily during the past twelve months adding
significant value in particular at the Baomahun project in Sierra Leone and at
the Angovia project in the Ivory Coast.

I must also mention the fund raising sponsored by BMO Nesbitt Burns which has
added approximately 15 million to our treasury, providing us with a strong
balance sheet and enabling us to advance two of our projects towards production,
whilst continuing an aggressive exploration programme elsewhere. I should add
that the larger proportion of the placing was taken by new North American
investors, mostly specialist mining funds. Their support and that of Nesbitt
Burns followed the commissioning, by Nesbitt Burns, of a due diligence exercise
into the Company conducted by the Toronto based Kilpatrick and Associates.
Amongst other comments Kilpatrick averred that Baomahun should evolve into a
multi million ounce orebody. This is very much the view of our technical staff
and it is our objective to validate that assertion during the current drilling
campaign, which will continue throughout the remainder of this year.

Two of our non-executive directors, Edward Haslam and Bobby Danchin, have
returned from a visit to Baomahun and to Angovia this week and it is their
dispassionate view that Baomahun is indeed evolving into a substantial orebody.
We will be announcing regular drilling results from hereon. This morning I can
report on the ongoing trenching programme which continues to yield notable
results such as 47m @ 1.41 g/t AU (including 8m @ 4.76 g/t) in trench 26; 11m @
3.58 g/t AU in trench 29; 50m @ 1.52 g/t AU in trench 30 and 29m @ 1.14 g/t AU
in trench 32. The importance of these results is that they suggest the possible
linking of the Western and Central zones into one structure whose strike extent
could be more than two kilometres. In comparison, the current resource of
518,000 ounces is hosted in structures with a combined strike of 700 metres. Our
previous drilling programmes were conducted to a vertical depth of up to 150
metres and at present the mineralisation is still open at depth and along
strike. Accordingly, the present campaign provides for further evaluation of
the orebodies to a vertical depth of 250 metres, as well as along strike below
the encouraging trenching results that we are encountering in our ongoing
trenching programme. We will soon be in a position to announce the results of
the first assays from this multifaceted exploration programme.

The Baomahun project is already the largest gold project in Sierra Leone and I
am glad that I can assure you of the sound relationship we have developed with
the ministry of mines, and in particular with the minister, who is himself a
mining man, having trained at the Camborne School Of Mines, whom I have known
for twenty-five years. I firmly believe that any difficulties which we may
encounter in Sierra Leone will derive not from political instability but rather
from damaged infrastructure. This has not impeded our activities to date but we
foresee challenges in securing power generation commensurate with the scale of
the project we envisage.

I turn now to Angovia, a gold mine in the Ivory Coast which was in operation
between 1998 and 2003 and is located on our 534 sq km exploration licence. We
are acquiring from the Ivorian state mining company, for a sum equivalent to
approximately $200,000, assets which include a significant part of the plant,
all of the housing and other facilities. We are presently undertaking a resource
definition drilling programme which is planned to be completed during the next
three months and which we hope will enable us to optimise the development of the
oxide material currently estimated at between 200,000 and 300,000 ounces. By
reason of our acquisition of much of the plant we would anticipate development
costs under $10 million which we expect to fund without recourse to the banks
for project finance. The project's returns should therefore be eminently
satisfactory. In addition to the oxide resource potential there is a 500,000
ounce sulphide resource potential as previously announced. This resource
potential is open along strike and at depth. We can therefore anticipate a
sustained level of production from that operation. The political circumstances
of the country have been complex for the past two years. It is now clear that
the situation has stabilised and the de facto division of the country into two
halves, the legitimate government in the south and the rebellious factions in
the north, could well be resolved by national elections presently being planned.
From our point of view, we judge that there is presently no consideration that
will deter us from proceeding to mine our deposits.

Moving now to Burkina Faso and the Kalsaka deposit. The reserves there have been
recalculated by RSG Consultants and are estimated to be over 300,000 ounces. The
project has a resource of approximately 600,000 ounces together with 150,000
ounces at our nearby Yako prospect. In addition there are four identified drill
targets, which have been drill tested in the past with positive results, at
Kalsaka. The combination, therefore, of this level of ounces, complemented by
the significant increase in the gold price, have led your Board to determine to
proceed with the development of the project which is expected to yield in the
region of 60,000 ounces per annum. We are now in the process of arranging
project finance with our bankers, RMB Resources Limited. Politically speaking
Burkina Faso remains stable.

Our remaining project is an exploration licence in Mali on which we shall
commence drilling towards the end of the year.

The emerging markets and the commodity markets have this week been assailed by
severe turbulence. One can only be philosophical about this and conclude that
it creates an attractive environment for a potential investment opportunity in
the Company.'


For further information, please contact:

Cluff Gold Parkgreen Communications
J.G. Cluff Cathy Malins / Annabel Leather
Tel: +44 (0) 20 7340 9790 Tel: +44 (0) 20 7493 3713

Up 8p/12% today - there seems to be no RNS though, apart from last week's news of a change of advisor.

There's a new-ish research note dated 26 June from Numis on the company website which might make interesting reading. I haven't read it thoroughly yet, but there's a "Buy" recommendation and price target of 146p.

Here's the link: I want Recommendations!

More good news: RNS out yesterday.


Cluff Gold PLC - Angovia Update
RNS Number:7249G
Cluff Gold PLC
26 July 2006

26 July 2006

CLUFF GOLD PLC

Encouraging drill results from new satellite deposit,
Angovia Gold Project, Cote d'Ivoire

Cluff Gold Plc ('Cluff Gold' or 'the Company') today announces the receipt of
further assay results from the ongoing reverse circulation ('RC') drill
programme at the Angovia Gold Project ('Angovia' or 'the Project') in Cote
d'Ivoire.

Highlights:

* Sixty two holes completed, totalling 4800 metres of drilling to date

* New ore body confirmed at Prospect AN2, about two kilometres from the
proposed central processing plant

* Best intersects:

* ARC105 intersects 20m @ 3.39 g/t AU (including 1m @ 43.27g/t AU)

* ARC055 intersects 19m @ 6.23g/t AU (including 2m @ 49.53g/t AU)

* Potential for resource estimation for Angovia to increase
significantly when new drill data is incorporated

* Ore from all four satellite deposits to be treated in a central heap
leach plant

Please click on the following link to see a map of Angovia and the location of
the four satellite deposits (Prospect 1, Prospect 2, Prospect 3 and AN2) drill
tested to date:

http://www.rns-pdf.londonstockexchange.com/rns/7249g_-2006-7-25.pdf

Assay results have now been received from holes drilled at Prospects 4 and AN2,
where a new ore body has been confirmed. Prospect AN2 is located about two
kilometres from the proposed plant site at Angovia.

Cluff Gold purchased some drill data covering Prospect AN2 from COGEMA, the
previous license holder (as announced in March 2004). However, no validation
drilling had been done to date and the previous resource estimation for Angovia
produced by SRK consultants (as reported last year) did not include Prospect
AN2. The Company therefore anticipates the potential for the resource
estimation at Angovia to increase significantly in the short term.

Below is a table of some of the significant intersections encountered in holes
at Prospects 4 and AN 2:

Hole ID Dip (degrees) Intercept From (m) Prospect Comment
ARC93 45 5m@1.71g/t 15 AN2
ARC94 45 2m@3.36g/t 54 AN2
ARC96 45 4m@0.71g/t 14 AN2
ARC97 45 5m@1.14g/t 12 AN2
ARC98 45 7m@1.21g/t 17 AN2
ARC99 45 11m@1.66g/t 17 AN2
ARC99 45 7m@1.21g/t 43 AN2
ARC100 45 11m@0.94g/t 0 AN2
ARC100 45 5m@1.63g/t 19 AN2
ARC101 45 7m@1.63g/t 45 AN2
ARC102 45 2m@8.96g/t 6 AN2
ARC102 45 11m@1.43g/t 35 AN2
ARC103 45 5m@1.04g/t 48 AN2
ARC103 45 10m@1.00g/t 58 AN2
ARC104 45 7m@1.33g/t 4 AN2
ARC104 45 3m@2.73g/t 15 AN2
ARC104 45 23m@1.83g/t 47 AN2
ARC104 45 5m@3.41g/t 34 AN2
ARC105 45 20m@3.39g/t 10 AN2 Includes 1m@43.27g
/t from 23m
ARC048 55 4m@1.05g/t 15 4
ARC048 55 1m@8.98g/t 45 4
ARC053 55 7m@2.19g/t 0 4
ARC055 55 5m@1.63g/t 55 4
ARC055 55 19m@6.23g/t 66 4 Including
2m@49.53g/t from
66m
ARC056 55 11m@1.44g/t 11 4
ARC056 55 36m@1.23g/t 52 4
ARC059 55 2m@5.85g/t 34 4
ARC059 55 7m@1.85g/t 42 4
ARC059 55 10m@4.42g/t 90 4 Including
2m@19.92g/t from
90m

The current drilling is working to define near surface oxide resources from the
four satellite deposits tested to date. It is planned that the ore from these
areas could be trucked and treated in the recently purchased heap leach
processing plant, located centrally in the Angovia permit area. Historical data
from COGEMA's previous mining activities demonstrates that heap leach recoveries
of up to 80% are achievable for the near surface oxide ore using the existing
plant.

The depth of oxidation in the drilled out areas goes down to 70 metres
vertically. The underlying sulphides below the satellite ore bodies, and the
areas which were formerly mined for oxides by COGEMA, will be investigated in
due course.

The mineralisation remains open along strike and down dip on the four satellite
deposits drill tested to date.

Douglas Chikohora, Technical Director of Cluff Gold plc, comments, 'We continue
to be very pleased with the developments at Angovia, with these drill results
confirming the presence of a fourth satellite orebody on the Project. The
grades intersected at Prospect AN2 have surpassed our expectations and we expect
to significantly add to the resource for Angovia. We look forward to updating
the resource estimate on completion of the RC drill programme.'

Qualified Person:

Douglas D Chikohora has reviewed the information contained in this announcement.
Douglas D Chikohora, Msc, MIMMM, CEng, is the Technical Director of the Company.


For further information, please contact:

Cluff Gold WH Ireland Parkgreen Communications
J.G. Cluff / Douglas Chikohora David Youngman Cathy Malins / Annabel Leather
Chairman / Technical Director Tel: 0161 832 2174 Tel: 020 7493 3713
Tel: 020 7340 9790


Notes to Editors:

Mt. Yaoure, Cote d'Ivoire

The Mt. Yaoure permit is located 40km northwest of Yamoussoukro, the political
capital of Cote d'Ivoire, and covers a surface area of 534km(2). The licence
area includes the Angovia gold mine which operated between 1998 and 2003. The
mine reportedly produced over 180,000 ounces of gold during this period by heap
leaching some 2 million tonnes of oxide material. The Cote d'Ivoire government
has issued a certificate to CMA, a subsidiary of COGEMA, the French uranium
mining group, evidencing that it has complied with the work prescribed by the
mining regulations relating to the protection of the environment and the
restoration of the part of the licence area covered by the Angovia gold mine.

The infrastructure in the area is good and includes a hydroelectric dam six
kilometres from the Angovia mine site.


This information is provided by RNS
The company news service from the London Stock Exchange
END

More encouraging news. Why, oh why didn't I buy when it was at around 60p??


Stock News - RNS
Cluff Gold PLC - Baomahun Update
RNS Number:8704G
Cluff Gold PLC
28 July 2006

28 July 2006


CLUFF GOLD PLC

Update on Baomahun Gold Prospect, Sierra Leone


Cluff Gold Plc ('Cluff Gold' or 'the Company') today announces further drilling
results and the discovery of a new high grade area of the Eastern Zone orebody,
which has been intersected by the follow up drilling programme at the Baomahun
Gold Prospect ('Baomahun') in Sierra Leone. This drilling programme is designed
to investigate the strike and down dip extensions of the three zones: Eastern,
Central and Western.


Highlights:

* DDH47 intersects multiple mineralised intercepts, including a high
grade zone of 16m grading on average 20.61g/t Au, with a 1m wide centre
grading 111.5g/t Au
* Intersection in DDH47 extends Eastern Zone orebody to a vertical depth
of at least 170m
* As the orebody gets deeper, the grade appears to increase significantly
* The 100-metre 'gap' between the Central and Western Zones is confirmed
to be mineralised
* Recent bottle roll test work suggests that the Central Zone ore is not
refractory
* More than 5,000m of follow up core drilling is programmed for the 2006
field season

Below is a table giving the full set of new drilling results:


Hole ID Dip (degrees) Azimuth Intercept From (m) Zone Comments
(degrees)
DDH35 45 042 14m@0.61g/t 132 Central

10m@3.19g/t 185

13m@1.56g/t 239


DDH36 45 042 5m@1.37g/t 222 Central

3m@3.00g/t 234
45 042 2m@1.81g/t 85 Central
-Western
DDH37 3m@3.17g/t 94


DDH38 45 Not significant Central Hole stopped in f/w


DDH39 45 Central Results pending


DDH40 45 2m@3.90g/t 102 Central

Western
DDH41 45 Western Results pending


DDH42 45 Western Results pending


DDH43 45 Western Results pending


DDH44 45 Western Results pending


DDH45 45 6m@1.18g/t 89 Central -
Western
10m@1.15g/t 114
DDH46 45 8m@1.96g/t 101 Central -
Western
7m@1.30g/t 122
DDH47 45 3m@1.12g/t 108 Eastern Includes 7m@43.21g/t
from 147m and
16m@20.61g/t 142 1m@111.5g/t from
148m
3m@1.51g/t 175

15m@4.36g/t 207


DDH48 Results pending


Drill hole DDH47 was drilled down dip of drill holes DDH1 and DDH2. As reported
in February 2005, DDH1 recorded a down the hole intersection of 30m grading
4.68g/t Au on average and DDH2 recorded a down the hole intersection of 20m
grading on average 2.72g/t Au. Current results from DDH47 suggest that the
grade increases significantly with depth in the main structure, with the receipt
of a down the hole intersection of 16m grading on average 20.61g/t Au.

Intersections in DDH37, 40, 45 and 46 are in the 100m long 'gap' between the
Central and Western Zones. These results were expected as they confirm earlier
trenching results which suggested that the Central and Western Zones form part
of one much larger structure with a potential strike extent of more than 2km,
within a 3.4km mineralised corridor. This corridor is part of the banded iron
formation-rich Kangari Hills greenstone belt found at Baomahun and the overall
strike length of this belt covered by the Baomahun licence is about 12km.

Recent bottle roll test work on mineralised samples from the Central Zone
suggests that the ore is not refractory. This is consistent with results of
preliminary metallurgical test work undertaken in 1992 by Anamet Services in
Bristol on ores from the Eastern Zone. The work was done on behalf of Harry
Winston Inc.

Douglas Chikohora, Technical Director of Cluff Gold plc, comments: 'This is a
phenomenal exploration result, as these high grade drilling intercepts have far
surpassed management expectations. Baomahun is an exciting project and
management is now confident that it is showing all the indicators of a
potentially major gold deposit.

'We intend to step up our drilling programme in order to aggressively further
define and extend the orebody zones, which we believe to be part of a large,
continuous mineralised structure. We will also be in a position to update the
resource base of Baomahun on receipt of the remaining assay results from the
five holes in the near future.'

About Baomahun:
Baomahun is located about 180 km east of the capital of Sierra Leone, Freetown,
in the Southern Province of the country and the geological setting is similar to
the Lake Victoria goldfields in Tanzania. Cluff Gold has a right to earn a 60%
interest in Baomahun by funding the project to the completion of a bankable
feasibility study or to a maximum of US$5 million. This right is to be acquired
from Winston Mines which owns the two exploration licences relating to Baomahun,
covering an area of approximately 137 km(2).

Qualified Person:
Douglas D Chikohora has reviewed the information contained in this announcement.
Douglas D Chikohora, Msc, MIMMM, is the Technical Director of the Company.


For further information, please contact:

Cluff Gold WH Ireland Parkgreen Communications
J.G. Cluff / Douglas Chikohora David Youngman Cathy Malins / Annabel Leather
Chairman / Technical Director Tel: +44 (0)161 832 2174 Tel: +44 (0)20 7493 3713
Tel: +44 (0)20 7340 9790

click here

Cluff Gold [CLF]
After a general slippage, due to Market woes amongst Miners and a fall in gold-price a few shares are bought by Directors and woosh! up they go on a trial pouring (of gold) and I suppost that proves it is a mining co.

Many thought this was worth 1, but at 30p-ish this is something of a Bargain ( now that gold is confirmed; before it was hope!),....but whether it's worth 1 remains to be seen on the timescale etc. But the presence of Gold does confirm Management ability, subject to understanding "costs" etc. -and- it means that getting finance is so much easier. I bought a few today at 30p
EDIT (5Nov08), Director buys 54k-worth for his SIPP...looking good.
EDIT(2Dec08)-Directors awarded Options = hasn't helped sp...don't they get a Salary?

Lots of buys today at the 27p level. Come on 1

All the way to a pound baby.......all the way to a pound!!!!

like i said, on its way to 1

CLF..looking very strong at the moment.

Weakening dollar, gold sp moving north a lot of momentum behind the SP......

Resistance at 58p should easily be taken out and then blue sky ahead.

Buy Reco from broker...

18-May-09 Cluff Gold CLF Seymour Pierce Buy 49.25p - - Reiteration

Cluff Gold PLC

FORECASTS WIRES
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Seymour Pierce
01-05-09 BUY -4.29 3.96

Fairfax IS
06-04-09 SPB

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus -4.29 3.96

1 Month Change 0.00 0.00
3 Month Change 0.33 -1.17


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS % % %
DPS % % %

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

EBITDA -2.64m -2.75m 13.08m

EBIT -2.80m -3.96m 7.78m

Dividend Yield % % %

Dividend Cover x x x

PER -13.72x -11.48x 12.44x

PEG f f f

Net Asset Value PS 37.35p p p

Moving up strongly today on the back of the rise in the GOLD sp.

Results any time.

Recentish article for those who missed it........

From GCI:-

Cluff Gold - SPECULATIVE BUY
Companies: CLF
12/03/2009

CLUFF GOLD is looking for more gold assets in West Africa as it prepares for annual production of more than 100,000 oz.

AIM and Toronto-listed CLUFF GOLD recently raised 8.1m at 40p through Canadas BMO Capital Markets and will use the proceeds to speed up drilling at the companys flagship gold project at Baomahun in Sierra Leone and increase gold output from the Kalsaka mine in Burkina Faso.

The company, which hopes to produce upwards of 100,000 oz this year from Kalsaka and Angovia in Cote dIvoire, also wants to use some of the funds to lift Kalsakas output by 25% and establish an estimated resource increase at Baomahun from 1.5m oz of gold to 2m oz or more.

Chairman and chief executive Algy Cluff is understood to be anxious to boost the London-based companys productive capacity and institutional visibility by acquiring more gold assets. He is thought to be after deposits and projects, but not corporate acquisitions, which can involve undue complexities, personal issues and possible skeletons in the cupboard.

Cluff Gold shares took a pounding last year, falling from 110p to a mere 10.5p. They have rallied now that the money has been secured and significant production is on the horizon and the medium-term outlook should be brighter, as long as the gold price holds up.

CLF (46.25p) From Minesite:-

May 15, 2009

With Production Now Stabilising At Roughly 100,000 Ounces Per Year, Cluff Gold Begins To Think Of Stepping It Up A Gear.

By Alastair Ford

Investors in CLUFF GOLD were put through the mill at the end of last year, no doubt about it. When the market was at its worst, buyers almost completely disappeared, and the shares sank to a low of 8p. That was shortly after it transpired that the possibility of a working capital shortfall caused by start up delays was serious enough to force the company into arranging a US$10 million debt facility on what can only be described as punishing terms. And, by an almost surreal turn of events, the share price low coincided almost exactly with the official opening of the companys Kalsaka gold mine in Burkina Faso.

The net effect of all that was that the usual re-rating that the market awards development companies that press the production switch was nowhere to be seen. At least not for a few shaky weeks, it wasnt. But when interest returned towards the end of November, the market was suddenly forced to wake up to the fact that Cluff Gold was now officially a producer of some substance, and to recognise the merits in a company that was ramping rapidly up towards annualised production of 100,000 ounces per year, albeit from two fairly small mines.

So come early December, less than a month after the gut-wrenching lows, Cluff Golds value had more than tripled, as the shares pushed triumphantly back through the 30p mark. Not for the faint-hearted, an investment in Cluff Gold, but then again, no equity in the world was for the faint hearted back in the dark days at the end of last year.

Since then the re-rating process has been a lot more gentle. In the year to date Cluffs put on a further 50 per cent, and is now trading at around 45p, roughly half the level which it was at a year ago. All of which potted history serves merely as context for whats coming next. Because Algy Cluff has already got his eyes on the next big thing - now that hes got his company up and running and in production, it is, in effect, insulated from many of the swings and arrows that are still flying around out there.

Therell be cash in the bank at the end of the year, cash from operations that is, and much of it will be earmarked for exploration on Cluff Golds Baomahun property in Sierra Leone. Some big American money has come into Cluff on the back of the upside at Baomahun, and, watching as Algy Cluff rolls the projected production numbers round his tongue over a school-dinner style meal at his favourite club, the RAC, you can see why.

Without missing a beat, Algys suddenly talking of company-wide production of the order of 300,000 ounces per year. The key to this company now is Sierra Leone, he says, matter-of-factly. The Baomahun project is already showing 1.46 million ounces in the measured, inferred, and indicated categories, but with the next round of drilling Algys hopeful that hell be able to push that emphatically towards the two million ounce mark. For good measure he adds that that total ought to be reached, notwithstanding that weve still got 80 per cent of it still to drill, even after the latest campaign completes.

But with reference to the hypothetical production numbers Algys already mentioned it seems clear that some sort of concerted move is likely sooner rather than later now. The company can always book the extra ounces when it needs them.

In the meantime, what does a seasoned market veteran like Algy make of all the latest mayhem? First off he chuckles into his napkin and mentions that it was a bit embarrassing that his share price fell so low after hed done a fundraising at considerably higher levels. But anyone who might have stood up as a critic on that at the time has now had his concerns well and truly answered by the subsequent rapid share price recovery. And, if its true that Rand Merchant Bank got a good deal on the provision of the debt facility in September, its also true that that facility saved the company from a possible emergency rights issue. Some companies might feel that if the worst damage the global financial crisis has been able to inflict on them has been to create a share price that was a bit embarrassing, then theyd got off lightly.

If Algy, whos shown a deft hand at the helm of Cluff through all of this, thinks that, he doesnt say so. Rather he says, looking ahead again, that in the light of the current complete hiatus on exploration, and if he was 25 years old again, hed be pegging licences left right and centre all across Africa. How old Algy actually is, we at Minesite have not ventured to ask, but given that he follows up that remark with the notion that inside Cluff there might actually be some appetite for forming a newco to peg a whole lot of new exploration ground, one wonders if having got over the travails of last years market hes not feeling a second flush of youth.

Intersting article...

http://www.fxstreet.com/news/futures-news/article.aspx?StoryId=4e7e76fb-a94c-4185-87ed-e464f9ed2122

Cracking results, everything on track.

Bullish update from Pro TAer Zak Mir this morning....

Zak Mir



Reged: 28/06/07
Posts: 835
Re: Cluff Gold (CLF)
#447055 - 27/05/09 07:21 AM Edit Reply Quote



Above the floor of an ascending November price channel at 44p the upside here could be the 2008 resistance line projection at 70p plus on a three month perspective.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=2799211

Gold-Price

I wonder how much of CLF's sp is due to the rising Gold-price...?

I wonder if one of the posters here can relate the all-time high (price of Gold), with the L-T [CLF] sp...?

As a recent holder, I hope it's mostly due to prospects (eg in S-L) but I know the shares have recovered from Lows, but am unsure "why" the sp fell . . . was it Credit-cruch affecting cash-hungry investments..?

EDIT(30Sept09) - 1% drop today as Co releases info showing losses....
EDIT (7Dec09)- Execs snorted 5k-worth of stock as a Bonus - Isn't this the wrong-way? This encourages a low sp - They should receive a "number" of shares, pref. based on raisng sp 20% over any 12-month period, but subject to it being higher than 24-months ago.
EDIT-(5March2010), Takeover talk has pushed sp to 80p, - yet no interest here, eh?
EDIT (12March2010)-Seems someone bought 250,000 at 91p-ish - someone loves 'em.

UPDATE 1-Cluff Gold says offer talks continuing
30 Apr 2010 - 07:47

* Asks interested parties to finalise offers in near future

* Remains on course to beat its FY 100,000 oz gold forecast

* Shares have jumped 38 pct this year

(Adds details)

LONDON, April 30 (Reuters) - Cluff Gold , a West African-focused gold miner, said talks were ongoing regarding a possible offer for the company and that it had asked all interested parties to finalise offers or conclude discussions in the near future.

The group said on Friday it will shortly announce production figures for March and April that will confirm that it remains on course to beat its forecast of producing 100,000 gold ounces this year.

"As discussions continue with certain third parties, the company maintains its active growth strategy of developing its assets into increased gold production and we anticipate strong results from the ongoing Scoping Study at the Baomahun mine," said Chairman Algy Cluff.

The company will also announce further resource updates at the Baomahun and Angovia projects over the next few months.

Cluff Gold said in February that it was in early stage offer talks. [ID:nSGE61I0CZ]

Shares in AIM-listed Cluff Gold have jumped more than a third this year to value the group at about 104 million pounds ($160 million).

(Reporting by Julie Crust; editing by Georgina Prodhan)

($1=.6510 pound)

((julie.crust@thomsonreuters.com; +44 207 542 3847))

Keywords: CLUFFGOLD/

Giving it some pasty now up over 10%.

Like I mentioned earlier not a big fan of mining or oileys and highly speculative sectors and tend to stick to the old industrials etc, etc but this article on Investor Inteligence caught my eye the other day and might be worth following up on. as ever DYOR.................

UK Chart of the Day: 29 April 2010

Chart of the day: Gold up on debt crisis....
There are few instruments that go up on a sovereign debt crisis. Gold, the 'barbaric relic', is one.

Earlier, we highlighted the possibility of gold completing an inverse head-and-shoulders formation. The break of the 'neckline', in particular, is good buy signal.

So far, so good. After a shakeout back to the neckline, prices have since rebounded sharply to the highs. The pattern of rising lows increases confidence that further rallies are in the offing.

We remain in favour of long gold and gold related stocks like Randgold Resources.

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Good to see all Brokers following the stock have buy ratings.

Cluff Gold PLC

FORECASTS 2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

W H Ireland Ltd
23-04-10 SPECULATIVE BUY

Seymour Pierce
16-04-10 BUY -13.76 -11.86 17.92 9.94

Evolution Securities Ltd
12-02-10 BUY -2.94 -15.72 16.61 10.29

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus -9.05 -13.54 17.35 10.09

1 Month Change -0.11 0.04 0.01 -0.01
3 Month Change -5.22 -6.72 6.10 3.80


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS % % %
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA -5.21m -5.08m 24.05m

EBIT -5.78m -13.44m 18.11m

Dividend Yield % % %

Dividend Cover x x x

PER -12.21x -6.46x 8.67x

PEG f f f

Net Asset Value PS 43.73p 51.90p 66.52p

Didnt realise these were dual listed in Canada.

Could be more demand come 2.30 this afternoon.

And believe it or not : you can put this in an Isa.....along with Jubilee Platinum (JLP), this is only the second dual listed stock, (Aim) and another listing that is isable, that I have discovered.

UPDATE 1-Cluff Gold says offer talks continuing
30 Apr 2010 - 07:47

* Asks interested parties to finalise offers in near future

* Remains on course to beat its FY 100,000 oz gold forecast

* Shares have jumped 38 pct this year

(Adds details)

LONDON, April 30 (Reuters) - Cluff Gold , a West African-focused gold miner, said talks were ongoing regarding a possible offer for the company and that it had asked all interested parties to finalise offers or conclude discussions in the near future.

The group said on Friday it will shortly announce production figures for March and April that will confirm that it remains on course to beat its forecast of producing 100,000 gold ounces this year.

"As discussions continue with certain third parties, the company maintains its active growth strategy of developing its assets into increased gold production and we anticipate strong results from the ongoing Scoping Study at the Baomahun mine," said Chairman Algy Cluff.

The company will also announce further resource updates at the Baomahun and Angovia projects over the next few months.

Cluff Gold said in February that it was in early stage offer talks. [ID:nSGE61I0CZ]

Shares in AIM-listed Cluff Gold have jumped more than a third this year to value the group at about 104 million pounds ($160 million).

(Reporting by Julie Crust; editing by Georgina Prodhan)

($1=.6510 pound)

((julie.crust@thomsonreuters.com; +44 207 542 3847))

Keywords: CLUFFGOLD/

and we anticipate strong results from the ongoing Scoping Study at the Baomahun mine," said Chairman Algy Cluff.

http://www.proactiveinvestors.co.uk/companies/news/16115/cluff-gold-says-offer-discussions-are-on-going-16115.html

UK Chart of the Day: 7 May 2010

Chart of the day: Gold nears record highs

It will only be a matter of time before the ECB monetizes PIIGS's debt - that is, print money to buy PIIGS bonds. Economically, few countries can withstand 15-20% interest on loans for long (which is what Greece 2-year yield is at right now) before the government finances collapses.

Factoring that scenario, investors have been hoarding gold. It is one of the few assets that rose yesterday, touching $1,200 and near surpassing the high established in December last year (see right).

We have in previous Hotlines made calls to accumulate this 'barbaric relic'. Technically, this remains a reasonable proposition on the back of rising lows and higher highs. Buy more on a setback.

Brokers still all got there BUYs in place......

Cluff Gold PLC

FORECASTS 2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Seymour Pierce
14-05-10 BUY -13.76 -11.86 17.92 9.94

W H Ireland Ltd
07-05-10 SPB

Evolution Securities Ltd
12-02-10 BUY -2.94 -15.72 16.61 10.29

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus -9.16 -13.50 17.36 10.09
1 Month Change -0.11 0.04 0.01 0.00
3 Month Change -6.22 -5.04 0.75 1.65


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS % % %
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA -5.21m -5.22m 24.00m

EBIT -5.78m -13.44m 18.11m

Dividend Yield % % %

Dividend Cover x x x

PER -10.46x -5.56x 7.43x

PEG f f f

Net Asset Value PS 43.73p 51.90p 66.52p

From Investors Chronicle

Cluff eyes third major project
Created:27 May 2010Written by:Martin Li

After successfully completing the commissioning of its Kalsaka (Burkina Faso) and Angovia (Ce d'Ivoire) mines during 2009, West Africa-focused Cluff Gold achieved production of 61,922 net ounces in the year. That's marginally below the company's annualised production target of 100,000 ounces, although chairman and chief executive Algy Cluff is confident of reaching that milestone this year.

Cash costs remain higher than the industry average of around $600 (416) per ounce, and reached $1,113 per ounce at Angovia during 2009 due to equipment problems. The company has appointed a chief operating officer to help reduce costs and 2010 should see more efficient production.

Cluff continues to drill at the two mines to extend what are currently short lives of three years at Kalsaka and two years at Angovia. However, the most exciting upside exists at the flagship Baomahun project in Sierra Leone, which is showing potential to develop into a substantial mine. Mr Cluff expects to publish a resource statement for Baomahun soon and targets completing a feasibility study by next spring.

Evolution Securities forecasts 2010 pre-tax profits of $26m and EPS of 16, subject to revision following the results.


CLUFF GOLD (CLF)
ORD PRICE: 76p MARKET VALUE: 93.3m
TOUCH: 75-77p 12-MONTH HIGH: 105p LOW: 44p
DIVIDEND YIELD: NIL PE RATIO: NA
NET ASSET VALUE: 70* NET CASH: $2.27m



Year to 31 Dec Turnover ($m) Pre-tax profit ($m) Earnings per share () Dividend per share (p)
2006 nil -3.5 -8.9 nil
2007 nil -4.8 -7.5 nil
2008 nil -0.9 -1.1 nil
2009 39.7 -35.5 -30.3 nil
% change - - - -
*Includes intangible assets of $44.7m, or 36 a share

1=$1.441

BROKER CALL:Evo sees Cluff as a buying oppertunity
2 June, 2010 09:42:34 AM

Evolution Securities believes that with a share price of around 75p the company was sensible not to sell itself too cheaply, especially with the two gold mines in the Ivory Coast and Burkina Faso turning a corner in the last 6 months. Evolution reiterates a buy rating and 124p price target.

Should see the SP rise today....

4 June 2010 AIM: CLF / TSX: CFG

Cluff Gold plc

("Cluff Gold" or the "Company")



Announces increased Mineral Resource Estimate at its Baomahun Gold Project, Sierra Leone



Cluff Gold, the dual AIM/TSX listed West African-focused gold mining company, is pleased to announce the following updated NI43-101 compliant Mineral Resource estimate at its Baomahun Gold Project in Sierra Leone.



Highlights:



Total Measured and Indicated Mineral Resources have increased by 27% to 1.4 million ounces of gold (15,096,000 tonnes grading 2.92 g/t);



Inferred Resources now stand at 1.03 million ounces of gold (12,168,000 tonnes grading 2.64 g/t);



The new resource figures will be incorporated into the Preliminary Assessment (Scoping Study) which is due to be completed by the end of this month;



Further drilling is planned over new anomalies identified by the encouraging heliborne VTEM (Versatile Time-Domain Electromagnetic) survey announced by the Company on 9 April 2010. This drill programme will continue until the onset of the rainy season in August.



The increase in the Mineral Resources at Baomahun follows the completion of an additional 7,000 metres of core drilling testing the continuity of known mineralisation in all directions as well as additional structures recently discovered. Seventeen holes have been drilled since the previous Baomahun mineral resource estimation which the Company announced on 22nd October 2009.



Mr. Douglas Chikohora, Technical Director of Cluff Gold commented:



"The increase in the Mineral Resource and the preliminary results from the VTEM survey, reconfirm that our Baomahun Project continues to exceed our expectations.



We aim to continue our drilling programme for the foreseeable future and we remain optimistic about the future economic viability of Baomahun, especially with these new figures included in the Preliminary Assessment (Scoping Study)."



Explanation of Tables:


Table 1 below summarises the current Mineral Resource estimates at Baomahun, using a 1.0g/t Au cut off:



Table 1. Baomahun Gold Project NI43-101 compliant Mineral Resources, June 2010



RESOURCE
ORE BLOCK ZONE
TONNAGE (tonne)


g/t Au
OUNCES OF GOLD

MEASURED
EAST
2,774,000


3.28
293,000

FOLD
217,000


2.16
15,000

CENTRAL
740,000


2.87
68,000

WEST1
409,000


2.31
30,000

WEST2
1,314,000


2.41
102,000





5,454,000


2.90
508,000














INDICATED
EAST
3,741,000


3.33
401,000

FOLD
447,000


2.83
41,000

CENTRAL
1,967,000


3.45
218,000

WEST1
1,036,000


2.56
85,000

WEST2
2,451,000


2.08
164,000





9,642,000


2.93
909,000

Total: Measured + Indicated


15,096,000


2.92
1,417,000














INFERRED
EAST
2,132,000

3.64

250,000

FOLD
376,000


2.86
35,000

CENTRAL
3,450,000


3.61
400,000

WEST1
642,000


2.81
58,000

WEST2
5,568,000


1.62
290,000





12,168,000


2.64
1,033,000


































Notes:



(1) The estimates of mineral resources were calculated in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporated into National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI43-101"). The mineral resources estimates were carried out by Andrew Owusu Asante who is a Member of Australian Institute of Mining and Metallurgy (AusIMM) under the direction of Douglas D Chikohora, MSc, MIMMM, CEng., Technical Director of Cluff Gold and the Company's Qualified Person who has reviewed this press release for accuracy and compliance.

(2) Mineral resource estimates are reported in gross ounces and not attributable ounces.

(3)The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.

(4) Grade represents an average, weighted by reference to tonnes of ore type where several recovery processes apply.

(5) Ounces represent estimated gold content present in the tonnes of ore which would be mined and processed. Mill recovery rates have not been applied in calculating the contained ounces.

(6) This mineral resource estimate for the Baomahun property uses a 1.0 g/t Au cut-off.

(7) Cluff Gold's attributable portion of the mineral resource estimate is 100%.

(8) Tonnes and Gold figures are rounded to the nearest '000. Grade is rounded to 2 DP. As a result, rounding errors may occur.



The Baomahun Gold Project covers an area of about 137 km sq and is located 180 kilometres east of Freetown, in the Southern Province of Sierra Leone. The Baomahun licence area covers more than 12 kilometres of prospective strike along the Kangari Hills which is composed of Archaean greenstone belt terrain consisting of banded iron formation (BIF). Gold mineralisation in the drilled areas is intimately associated with the BIF and other lithologies in close proximity to the BIF. Accordingly, future exploration and drilling will continue to use the BIF as a marker horizon for auriferous zones along the belt.



Gold grades were estimated using ordinary kriging and inverse distance weighting interpolation methods. The mineralisation models were constrained within the wireframe with primary block dimensions of 10 metres along the strike and cross structure directions, and 10 metres in the vertical direction. Higher-grade values have been statistically capped to 40 g/t Au. A total of 3,346 density determinations have been undertaken using the displacement method. The density samples falling within each defined wireframe domains were selected and the average density applied. Tonnages and grades are reported using a 1.0 g/t Au cut-off.


Drill cores used for assaying were sampled at a maximum of one metre intervals and were cut with a diamond saw with one-half of the core placed in sealed bags to be sampled at the Company's facility at Baomahun, Sierra Leone. The core samples were then crushed to minus 4mm and split, with approximately 1.5 kg of sample of sample pulverised down to 95% passing 106 microns. Approximately 120 grams of the pulverised sample was then shipped to the SGS Laboratory (which is independent of the Company) in Guinea where the samples were analysed for gold by fire assay using a 50g sample. As part of the Company's QA/QC procedures, internationally recognized standards were adhered to, part of which includes inserting into the sample batches and using interlab comparisons of samples submitted to Omac Laboratories Ltd (Omac) in Ireland.



Metallurgical testwork, which included recovery and communition tests, has now been completed to feasibility stage level. Results obtained from these tests have confirmed earlier preliminary findings that high gold recoveries can be achieved using a conventional direct cyanidation processing method. Communition test results show that the mineralised material at Baomahun requires conventional milling with only medium energy requirements.



About Cluff Gold



Cluff Gold 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 Company has assembled a portfolio of mineral interests at various stages of development in Ce d'Ivoire, Burkina Faso and Sierra Leone. Cluff Gold progressed from being an explorer to a producer in Q1 2008 and is expected to produce a total of 100,000 ounces of gold in 2010 from its Angovia Gold Mine in Ce d'Ivoire and its Kalsaka Gold Mine in Burkina Faso. Cluff Gold is actively evaluating known satellite deposits to expand the resource base at both mines. The Company is also pushing forward with the preliminary assessment at its wholly-owned Baomahun project in Sierra Leone where a measured and indicated resource estimated to contain over 1.4 million ounces of gold, in accordance with NI 43-101, has been announced to date (508,000ozs at 2.92g/t measured; 909,000ozs at 2.93 g/t indicated; plus an additional 1,033,000mozs at 2.64g/t inferred).



For further information, please contact:



Cluff Gold plc

J.G. Cluff - Chairman and Chief Executive

Douglas Chikohora - Technical Director

Tel: +44 (0) 20 7340 9790
Evolution Securities Limited

Rob Collins

Tim Redfern

Tel: +44 (0) 20 7071 4300




Pelham Bell Pottinger



Investor Relations (Global)

Charles Vivian

Klara Kaczmarek

Tel: +44 (0) 20 7861 3232

New article and analysis, click HERE

Don't recall this US_company that Cluff is buying (at a healthy premium, 138%, eh?)....see RNS today....and the sp drops 5% so I'm guessing Market thinks they may be paying too much.
Is this a US-based Gold-prospector...?

Midas share tips: Cluff striking more gold
By Joanne Hart
25 July 2010

Midas looks at a mining company operating in the low-cost west Africa mines of Sierra Leone




Brilliant bullion: Cluff Gold has tapped into a mine's potential

WANT TO KNOW MORE?What's the best way to invest in gold?
Why I'm investing in gold (and how)
FTSE LATEST5334.6021.98


You can also sign up to our premium investment zone, which includes more than 150 exclusive share tips a year for just 10 a month.



Cluff striking more gold in Sierra Leone


Traded on: Aim market
Ticker: CLF
Contact: 02073409790 or clufffgold.com


Mining can be a complex business. The world's most valuable resources are often found in countries with unpredictable politics and underdeveloped economies.

The mines tend to be miles from anywhere and initial financing costs are heavy.

All of which makes it difficult for smaller companies - and their shareholders - to be successful in this industry.

Investors need as much reassurance as possible and although past performance is no guarantee of future success, it can be a useful indicator.

Algy Cluff has plenty of past performance. Originally an oil man, he has been involved in mining for nearly 30 years, making serious money for investors when he sold Cluff Resources to Ashanti Goldfields in the mid-Nineties. Now he runs Cluff Gold, which focuses on finding and producing the metal from low-cost west African mines.

The group joined the Alternative Investment Market in 2004 and four years later began producing gold from mines in Burkina Faso and the Ivory Coast.

Between them, they are expected to deliver 100,000 ounces of gold this year and Cluff intends to increase this over time.

But the jewel in his crown is the Baomahun mine in Sierra Leone. Last month, independent experts verified that the mine is capable of producing more than 150,000 ounces a year and Cluff expects to achieve this by 2012, financing the project from his other two mines.

Baomahun has considerable potential, too, because 80% of the site has yet to be explored.

Cluff is moving slowly to make sure the firm's finances remain sound. The cash position is healthy and the business is forecast to move into profit this year.

Analysts expect pre-tax profits of $16.7m (10.9m) for 2010 against a loss of $11.6m in 2009 (like most gold miners, Cluff reports in dollars).

Gold surged to more than $1,200 an ounce this year and is now about $1,190, still high by historic standards. Given the economic uncertainty, the metal is likely to remain a popular investment for some time.

Midas verdict: Cluff received an unsolicited offer back in February and talks drifted on until the end of May. During that time, the share price reached 102p. Since bid discussions ended, the price has fallen back to 73p. At this level, the stock is undervalued, taking virtually no account of Baomahun's short or long-term potential. Buy.

Late RNS on Friday, looks ok.

New article and analysis, click HERE

Got to be the gold stock that is most undervalued on the market amongst smaller mid tier producers just look at these Broker BUY figures from hemscott premium.....


A forward P/E of just over 10 into 2011, thats derd cheap.

Cluff Gold PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

W H Ireland Ltd
09-09-10 MPER

Evolution Securities Ltd
09-09-10 BUY 10.78 4.71 15.11 7.23

Seymour Pierce
01-09-10 BUY 17.65 9.64 17.78 9.78

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 13.62 6.75 16.22 8.29

1 Month Change -0.67 -0.45 4.81 2.74
3 Month Change -4.09 -3.57 4.28 1.93


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS % % 22.72%
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA -2.78m 18.44m 21.73m

EBIT -7.35m 18.06m 17.65m

Dividend Yield 0.00% % %

Dividend Cover x x x

PER -13.42x 12.74x 10.38x

PEG f f 0.46f

Net Asset Value PS 21.01p 62.44p 76.94p

Bullish Broker figures, a forward P/E figure of just 10.8 to 2011, thats derd cheap. ........

Cluff Gold PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

W H Ireland Ltd
17-09-10 MPER

Evolution Securities Ltd
13-09-10 BUY 11.76 6.50 16.51 6.50

Seymour Pierce
01-09-10 BUY 17.65 9.64 17.78 9.78

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 14.15 7.78 17.03 7.83

1 Month Change -0.14 0.57 5.62 2.28
3 Month Change -3.56 -2.55 5.09 1.47


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS % % 0.71%
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA -2.78m 18.46m 21.82m

EBIT -7.35m 18.06m 17.65m

Dividend Yield 0.00% % %

Dividend Cover x x x

PER -13.30x 10.96x 10.89x

PEG f f 15.39f

Net Asset Value PS 21.01p 62.44p 76.94p

From Shares Mag

Cluff Gold
(CLF:AIM)
Miner Cluff Gold looks set to shine. It has broken up
through the bear-trend line that had been marking
the extent of any corrective gains since late Marchs
2010 high. This latest move confirms that the bulls
are once more in charge and the stock could retest February
2008s 102p for a new 110p all-time high.
Companies that specialise in getting stuff out of the ground
can offer the prospect of dramatic gains or indeed losses. In
the last two and half years Cluff has been in both camps. It
dived dramatically in 2008 dropping 90% by the time it based
at a lowly 10.3p in late October of that year.
That price was to prove a spike low, something that
chartists recognise as a cathartic event that almost always
leads on to the initiation of a new strong bull trend. Indeed
Cluff embarked on a uptrend that, by March of this year, has
seen it almost completely recover to the 2008 highs.
More recently Cluff has again suffered some weakness,
dropping to 64.5p by late July. In posting this decline, it pressured
the base line of the bull channel whose origin was the
first corrective low after October 2008 and which connects
the lows seen in April 2009 and June of this year. That the
stock has broken up again into the bull channel, should be
taken as a positive.
That the upper line of the bull channel was previously broken
in November of last year when Cluff hit 79p, means the
recent dip below the base should not be given too much significant.
Having recovered back into the channel and
regained is 200-day moving average and subsequently broken
up through the above-mentioned bear trend line the outlook
is bright.
Given the longevity of the bull channel the chances of
further gains focused on a retest of the upper return line,
currently passing through 147p, should not be discounted.
Only a drop back below the 200-day average, above which the
50-day average has just crossed positively, would call into
question the current bullish outlook.

SP moving up nicely.

Worth a read......

http://www.proactiveinvestors.co.uk/companies/news/20873/cluffs-gold-production-beats-estimates-on-track-for-100000oz-in-full-year-20873.html

watch for 110 being all time reached in 2008

Should go higher than that this time round....gold up another $4 as we speak...no stopping it....

I see it got a tip from Questor in the Telegraph today

Online Stock Trading

Managed to get a spread...this should go a lot further....

i am very happy i got in clf 80p i am also in to cey at 153

Doing well.....and still the gold spot price climbs....and so will this...

can see clf sp reaching 130p before december

thanks for the heads up on this one RF ..... just a 50% stake, but it's doing very well thank you

http://www.telegraph.co.uk/finance/markets/questor/8033116/Questor-share-tip-Cluff-Gold-has-hit-a-rich-seam-of-West-African-profit.html

Questor says BUY
Gold is regarded by many as a store of value. It is essentially an insurance policy against plunging currencies and inflation.
The precious metal's price has increased by about 20pc this year, outperforming equities and most base metals. Should the US undertake another round of quantitative easing, then the dollar is likely to fall further. This is positive for gold as it makes its price cheaper in other currencies.
The gold price is currently in excess of $1,300 (822) on ounce and has been hitting new nominal all-time highs on an almost daily basis for the past few weeks.
The positive background has been good for Cluff Gold, the West African-focused gold miner that recently started production.
On Wednesday, the group revealed a maiden interim profit and said it appearred to be on track to hit its full-year production target of 100,000 ounces. In the six months to June 30, production was 52,000 ounces, so this looks a reasonable assumption.
Cluff currently has two producing assets the 78pc-owned Kalsaka mine in Burkina Faso and the Angovia mine in Ce d'Ivoire. Kalsaka is expected to produce 70,000 ounces a year and Angovia 30,000 ounces.
The company is also aggressively developing a site at Baomahun in Sierra Leone. Ultimately, Baomahun is expected to contribute an additional 157,000 ounces of gold a year when fully developed. The company is currently working on the feasibility study to put the board and it has already carried out an airborne geophysical survey of the area. This has identified multiple promising geological formations.
Cluff is also is also working to increase resources and the life of its two operating mines and expects to be able to fund all of this from cashflows.
The executive chairman and chief executive is Algy Cluff. This is the fourth eponymous company for Mr Cluff, who made his fortune in North Sea oil in the 1970s.
However, the highly regarded Peter Spivey, the group's chief operating officer, will take over as chief executive from the start of next year. Mr Cluff will remain as executive chairman, which will sort out any issues of corporate governance.
In the six months to June, revenues were $61m compared with zero sales in the equivalent period of last year. The pre-tax loss of $29.6m was reversed into a pre-tax profit of $8.4m. The group's cash position stood at $8m, compared with $2m six months ago.
The average cash cost of each ounce of gold produced fell to $709 per ounce, compared with $865 in 2009 and when Questor spoke to Mr Cluff yesterday, he said that he expected this to continue to fall. The improvement is primarily due to successful commissioning of a new crushing facility at Angovia.
Gold prices are likely to remain high, supporting the wider sector.
Last week, Capital Economics said it expected gold prices to stay high for several more years which represented a change of view. Capital said that its prior scepticism on gold had been based in part on its long-held view that inflation would remain subdued and that deflation was by far the greater risk.
It argued that fears of runaway inflation or a dollar collapse remained exaggerated. However, it thought prices should continue to be supported by strong demand for a safe haven from other potential economic and financial shocks, such as a US-China trade war and the break up of economic monetary union.
The shares were first recommended at 62.3p on February 14 and they are up 55pc compared with a market up 8pc over the same period. Trading on a December 2010 earnings multiple of 12.6 times, falling to just 8.2 next year the shares are a buy. Significant progress at Baomahun would prompt a re-rating of the shares by the market

clf reached 112p today then dropped back

I suspect I may have made an error of judgement by taking a position in CLF on Friday, on reflection the SP failed to breach what appears to be the all time high of 113p. Not a good idea to open a trade at resistance! See what Monday brings, but I suspect as an intended short term trade, I could be binning this rapido!

Not if the price of gold continues to rise.....you are just unlucky with the timing....that happens to me all the time...don't drop this just yet.....

clf will fly as soon as markets pick up they reached 114 today it is cey who i am worried about down again today

Poked its nose through resistance at 113p again today, but failed to hold. Indicators starting to look toppy/ Just in profit, but still minded to chuck these sooner rather than later.

clf are a secure holding and are a prime target for a takeover hold on

Chucked them today, I don't like the chart set up and as a short term trade I think a retracement is due.

ditto .... just filled my sell at 110.5 ..... nice profit and thanks RF

Stock to watch CLF

http://www.iii.co.uk/articles/articledisplay.jsp?section=ShareDealing&article_id=10119669http://www.iii.co.uk/articles/articledisplay.jsp?section=ShareDealing&article_id=10119669

Deputy

I cannot reply to your email unless you enable the email facility on your MAM account or alternatively send me your contact email. In any event I'll post a chart soon as to why I binned CLF today.

Reasons why I binned CLF today:

SP has had two attempts at breaking through the all time high at 113p and failed, which isn't to say it won't happen. What really concerned me was the double top on the MACD and also resistance, which seemingly indicates a retracement is due. What isn't apparent on this chart is the SP's natural inclination to retrace following a decent run (and it's nearly doubled since mid-July).

As a short term momentum trade, it didn't happen for me so out it went. Longer term I like the chart, the shallow trendline will hopefully provide support at 85p+, so unless you want to take profits and perhaps buy back in later on at a lower price, no reason for concern. Of course those who do take profits may not be able to get back in at their hoped for low level. Pays yer money take yer chances. Finally, the gold price is nuts at the moment (although I understand why) when that particualr rush comes to an end, I guess all producers will see the effect in the SP.

Gold's star just keeps on shining

Fiona Bond
05.10.10 14:42


There seems to be no end to gold's famed allure as it soared to yet another fresh record high on Tuesday.


The precious metal hit $1,328 an ounce after the Bank of Japan slashed its key interest rate and the US dollar weakened.
It is now up some 21% this year and headed for its tenth annual gain on the trot - its longest winning streak since 1920.


"There seems little sign to the end of gold's rally and with a global race on to devalue currencies, gold is the main market where confidence goes from strength to strength," trader Phil Gillett at spread betting group Spreadex said.


The Bank of Japan lowered its interest rate to virtually zero for the first time in two years, as it seeks to stimulate the country's economy which has been hit by falling prices and a strong yen. It will also purchase $60 billion of government bonds and other assets.


Joshua Raymond, currency strategist at City Index, commented: "The move by Japan to cut interest rates to zero and purchases assets worth $60 billion have taken traders a little by surprise. What the move does is boost confidence that central banks are acting to maintain the recovery and this also raises optimism that the Federal Reserve and Bank of England may follow suite next month in announcing their own second round of quantitative easing."


But the rising uncertainty surrounding the state of the global economic recovery and the tug of war between currencies has heightened interest in the commodity.


Gold spent much of the latter half of September clawing its way higher, culminating in its previous record high of $1,322 on Friday - its 11th record since 14 September.


Indeed, since the start of 2008, gold has risen head and shoulders above its contemporaries, having jumped some 58%.


The growing demand for bullion spurred JPMorgan Chase to reopen an underground gold vault in New York that was closed back in the 1990s.


Consultancy GFMS estimates that private investors now hold as much as 30,000 tonnes of gold - more than a sixth of the world's loot and now more than central banks.


And there's good news for gold bulls as analysts forecast more highs on the horizon.


Commerzbank said: "A sharper fall in prices is not on the cards as gold should profit from the prospect of quantitative easing today. Gold is thus likely to sustain its upward trend for now."


John Meyer, analyst at Fairfax, sees the prices edging towards the next resistance level of $1,350 an ounce in the next few weeks, while Bank of America Merill Lynch predicts further rises in 2011 should the Fed expand its quantitative easing programme.


"We estimate the gold prices could rise by 3% on the basis of quantitative easing alone. More broadly, if we see global money supply expanding at the same pace, gold would move 15% higher," commodity analysts at the bank said.


It looks like gold's star will continue to shine brightly.

http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10119760

Sold out too soon Cynic...that is what happens to me most of the time.

is clf heading for 150 cey up aswell

who cares? ..... did i bank a profit? .... yes!

So many good'uns out there at the moment...spoilt for choice.

And just look at these figures from Digital Look , very very bullish.

Look at the increase in forecast EPS for 2011 105% and the miserly P/E rating of just over 8. PEG 0.1 !!!!!!!!!!!!!!!!!! amazing.

Now if there isnt value here I dont know where there is value.

Cluff Gold ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield

31-Dec-11 80.03 14.81 12.69p 8.7 0.1 +105% n/a 0.0%


We also have a target SP of 1.37p which no doubt has or will be upgraded.

29-Jun-10 Seymour Pierce Buy 73.00p 137.00p - Reiteration

137p SP target with a likely upgrade.

SP, all over the place today and whilst arguably I sold too early, the dip demonstrated I did not, all about timing and as I can't watch the screen all day, I have no regrets. SP in no-man's land today and no idea what tomorrow will bring. Mind you, keep knocking on resistance enough times, it usually gets through.

As long as we have this tremendous increase in gold values : there is no reason for the sp's in gold stocks to stop (the unhedged ones)....don't forget that rather than following the spot price of gold : these stocks are geared to getting the gold out of the ground...the cost base remains the same or drops, but their profit increases tremendously as the difference between the selling at market prices and their expenses increases.

clf up again today hope it holds on

some big sells today

share price drop a little bit political unrest

CLF Chart (cluff gold) looks primed for a bullish upside breakout:

Let's hope so.....been a good 'un for me.
EDIT (today) Hellsing001 - interesting Take . . . . but there needs to a real "prospect" of getting to their gold to Market...not just the proverbial, standing by a hole?
EDIT-(10Jan2010) - Chakli, IMHO, Dir buying below 50k says "stay away", I hold from 30p.

Seems to have a problem breaching the 117p mark.

Needs Gold to break through $1420 to get above this mark, without any drilling news.

When Gold hits $1360 it drops to the 105-109 range.

fd buys at 104.5 10k shares ! intresting

has any one heard if cluff gold is pulling mine staff out of ivory coast

Edmond Jackson on CLF this weekend...

http://bcove.me/5exo7kya

Broker guidance, pretty very much Bullish...

Cluff Gold PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

W H Ireland Ltd
11-01-11 MPER
Evolution Securities Ltd
10-01-11 BUY 10.92 4.72 28.88 13.18
Seymour Pierce
10-01-11 BUY 21.13 13.45 29.79 18.67

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 15.55 8.68 29.29 15.67
1 Month Change 0.79 0.47 7.15 3.22
3 Month Change 2.55 1.05 12.55 7.99


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS % % 80.60%
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA -2.78m 22.35m 38.95m
EBIT -7.35m 16.03m 29.14m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER -17.16x 12.68x 7.02x
PEG f f 0.09f
Net Asset Value PS 21.01p p p

Given as a Buy in Todays Sunday Telegraph at 104

bigger chart below ..... this OUGHT to be a much better performing share/company, but not sure if i want further exposure in the current market climate ... it is also something of a concern that it's recent trading range is very narrow indeed

Brokers supporting CLF I reckon its at least 100% undervalued after that last market update.... Forward P/E of just 7.3 to 2011, got to be joking.

Cluff Gold PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Seymour Pierce
07-02-11 BUY 21.13 13.45 29.79 18.67
Evolution Securities Ltd
07-02-11 BUY 10.92 4.72 28.88 13.18
W H Ireland Ltd
02-02-11 MPER

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 15.62 8.74 29.30 15.71
1 Month Change 0.11 0.09 0.01 0.06
3 Month Change 0.63 0.34 6.88 3.03


GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 79.80%
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA -2.78m 22.35m 38.95m
EBIT -7.35m 16.10m 29.14m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER -17.86x 13.11x 7.29x
PEG f f 0.09f
Net Asset Value PS 21.01p p p

Guys : take a look at Norseman Gold (NGL)(Aim).....forecasts of 120000 ounces of gold to be met....and the graph is a gem to dive into....

Last note from Evolution......

Cluff Gold set for pivotal 2011 - Evolution Securities

Friday, January 07, 2011 by Jamie Ashcroft Evolution Securities today gave an upbeat assessment of the prospects of Cluff Gold LON:CLF, TSX:CFG) as it said 2011 could be a pivotal year for the miner.

Analyst Louise Collinge recently visited Cluffs Kalsaka gold mine in Burkina Faso and was very impressed with the operation.

However she says the market remains largely unaware of the propertys exploration potential. We came away with the impression that the company has a good chance of increasing the life of the existing operations and making potentially significant discoveries on its existing licences, Collinge said in a note to clients.

She added: Cluff Gold will shortly embark on a 63,000m drilling programme in Burkina Faso.

It has the aim of identifying additional near-mine oxide resources at Kalsaka, investigating the sulphide potential at this mine and further exploring the Yako licence. Importantly, Yako is only about 20km from the Kalsaka licence, and is where Cluff has already identified a 150,000oz inferred gold resource.

In conjunction with the work being undertaken at Kalsaka, Cluff will also commence a drilling programme at the Baomahun project in Sierra Leone.

The analyst reiterated her buy rating on the stock, and raised her price target from 150 to 160 pence per share, giving almost 50 percent potential upside from the current price.

Looking at Baomahun, Collinge says Cluff has identified seven new top priority targets.

Notwithstanding the worries in the Ivory Coast, we believe that the company is now very well positioned as a c95,000-100,000oz/year West African gold producer with significant exploration potential, she added.

Given that the mines are operating well and coupled with a strong gold price environment, Cluff is generating meaningful profits and cashflow.

By mid-morning, shares in Cluff were down 1.8 percent trading at 107 pence each. The stock nearly doubled in value during 2010, rising from around 62 pence to reach almost 120 in October.

At 107 pence per share the company is valued at 140 million.

good post goldfinger i am in at 80p will hold could be a take over target do you think

From Investtech the TA experts this morning commentating on CLF......

Positive candidate

Positive signal: Moving average.

CLUFF GOLD PLC has broken up from an approximate horizontal trend. This signals a continued strong development, and the stock now meets support on possible reactions down towards the ceiling of the trend channel. It also gave positive signal from a rectangle formation at the break up through the resistance at 113. Further rise to 130 or more is signaled. Has also received a positive signal from the moving average indicator, thus signaling a continued rise. The stock has broken up through the resistance at pence 118. This predicts a further rise. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the trend break. The RSI curve shows a rising trend, which could be an early signal for the start of a rising trend. The stock is overall assessed as technically positive for the medium long term.

Medium term: Positive candidate

http://www.investorschronicle.co.uk/Companies/ByEvent/Risk/Analysis/article/20110629/9c0f6c72-a237-11e0-afe0-00144f2af8e8/Avocet-chief-warns-against-too-high-gold.jsp

Whilst IC are reporting the feelings of a rival's labour cost, Cluff investors should remember the company believes its energy-costs at one African mine are substantially below normal, due to the proximity of an electrical plant nearby.

It's even possible the resurgence of self-governace in Eastern Countries and part of N.Africa could spill into middle Africa - but LT Africans need the West's technology to gain currency and utilise labour (from mining) . . . . . there isn't much else they have worth exporting.
I hold a few.

Evolution Securities highlights undervalued gold stocks
Tue 11:44 am by Kam Patel Broker Evolution reckons a number of gold stocks it covers are undervalued


The price of gold has been on the rise in recent months, thanks in large measure to the crisis in Greece and worries about the future of the eurozone. Yet, on the whole, gold stocks covered by Evolution Securities have been retreating, leading the broker to argue that a number of them are now significantly undervalued.

In a research note Evolution analysts Charles Kernot and Louise Collinge point out that at the beginning of April the gold price stood at US$1,430 per ounce, rising to US$1,500/oz by the end of June, and averaging US$1,510/oz for the period.

The performance of bullion, however, has not translated into the performance of gold stocks in general, with Kernot and Collinge estimating that gold plays in the Evolution universe have lost 16% of their value during this time.

Their disappointing performance is all the more notable when it is considered that although mining equities generally have suffered a correction on worries about Greece and eurozone, their retreat was broadly correlated to underlying commodity prices.

The disproportionate retreat by gold stocks strongly suggests to Kernot and Collinge that a number of sector players are now suffering from significant undervaluation.

Amongst gold stocks in the Evolution universe the analysts particularly like Petropavlovsk, Aureus Mining, Avocet Mining and Cluff Gold.

While many gold equities have underperformed the gold price recently, the analysts note that situation has been worse for Russia-focused Petropavlovsk (LON:POG), which has underperformed its peers since the second half of 2010. This was initially caused by the markets realisation that 2010 production targets did not look achievable.

While Petropavlovsk is on track to meet its 2011 production guidance, Evolution anticipates that full year production will be weighted towards the second half, and more specifically to the third quarter. We believe that once the market gets more comfort that this production target looks achievable, the shares will appreciate significantly, say the analysts.

As for Aureus Mining (LON:AUE), Evolution reckons the gold company has suffered from portfolio rebalancing in the wake of its split away from African Aura and despite some very positive announcements from the group.

We believe that this represents a buying opportunity given that this group is fully funded to completion of the definitive feasibility study for its New Liberty project in Liberia, say the analysts.

Avocet Mining (LON:AVM) shares, meanwhile, have suffered weakness on market jitters as to whether the sale of its South East Asian assets was going to proceed before the end of June.

The vast majority of the asset sale has actually been concluded. But while the shares have since appreciated, the stock is currently at around 213 pence versus Evolutions target price of 252p, indicating there is upside potential yet.

The analysts are also positive on Cluff Gold (LON:CLF). At 86pence per share, the analysts believe that Cluff Gold is significantly undervalued, as indicated by their 135p target price for the stock.

Kernot and Collinge note, furthermore, that their current target price for Cluff makes no assumptions on future exploration success. They believe such success could be particularly significant at both the Kalsaka mine in Burkina Faso and Baomahun project in Sierra Leone.

Investors will not have to wait long from key newsflow from Cluff, with drilling results due soon from both Kalsaka and Baomahun. The results of a feasibility study for Baomahun are also in the near-term pipeline.

On an additional note, the analysts also reiterated their buy recommendation for Kryso Resources (LON:KYS), with a 26p target price.

Kryso is pushing ahead with its plans to develop the Pakrut gold mine in Tajikistan and Evolution believes the start of production there will transform the group into a significant profit generator and further enable it to push ahead with the additional exploration of its licence areas.

Importantly, Kryso has a supportive major shareholder and a letter of intent from the Export Import Bank of China, which should cover the bulk of the capital costs of the mine.

The analysts say Kryso has worked hard over the past five or so years as it has pushed forwards with the exploration and development of the Pakrut, with the company having already outlined some 3.6Moz of gold for the project and considerable additional potential.

Studies so far suggest that a mine building up to ore production of about 720,000 tonnes/year would have an initial 14-year life and start producing at an average rate of about 82,000oz/year. While initial output will be at a higher level there is scope for expansion over time.~

Evolution believes Kryso represents a relatively low-risk entry opportunity into a new gold mine.


http://www.proactiveinvestors.co.uk/companies/news/30245/evolution-securities-highlights-undervalued-gold-stocks-30245.html

Cluff Gold PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Evolution Securities Ltd
11-07-11 BUY 6.11 0.25 7.46 1.73


Hemscott Premium

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8635523/How-to-invest-in-gold.html

September 5, 2011

Cluff Gold: Significant Resource Increase at Baomahun

Total Mineral Resources Increased by 46% to 2.1 Million Ounces of Gold (Indicated) Together With 0.9 Million
Ounces of Inferred Resources at Baomahun

LONDON, UNITED KINGDOM--(Marketwire - Sept. 5, 2011) - Cluff Gold plc ("Cluff Gold" or the "Company")
(AIM:CLF)(TSX:CFG), the dual AIM/TSX listed West African focused gold mining company, is pleased to announce
the results of an independent mineral resource estimate for the Company's 100% owned Baomahun Gold Project
("Baomahun") in Sierra Leone.

Highlights:

-- The indicated resources have increased to 2.1 million ounces of gold
(25.6Mt grading at 2.5g/t) representing a 46% increase over the measured
and indicated resources announced in June 2010.
-- Inferred resources now stand at 0.9 million ounces (9.6Mt grading at
2.8g/t).
-- These new resource figures will be incorporated into the definitive
feasibility study for Baomahun, which is progressing well, and is
expected to be completed during Q4 2011.

Peter Spivey, Chief Executive Officer of Cluff Gold, commented:

"We are extremely pleased with the significant increase in the mineral resources in the current resource area
at Baomahun. The new resources underline the opportunity for Cluff Gold to achieve its objective of developing
an open-pit gold mine at Baomahun, which has the potential to produce over 150,000 ounces of gold per annum.

Furthermore, we believe that there is significant potential to further expand the resource base at Baomahun:
within the existing open pittable areas, at depth accessible by underground mining methods, and within the
remainder of our mining and exploration permits. Our drilling programme will resume at the main resource area
following the end of the wet season in November 2011, focusing on further opportunities that have been
identified to increase our resource base through converting inferred resources to the measured and indicated
categories. Exploration drilling will also resume along trend.

Work is progressing well on the definitive feasibility study, and we believe that the currently estimated
mineral resources form a strong platform to justify the capital requirements for developing the mine. A number
of new opportunities for cost savings have been identified and will be incorporated in the final study, which
is on track for completion during Q4 2011."

Peter Spivey, CEO, and Pete Gardner, Finance Director, will host a conference call for analysts and investors
at 9:30am BST on Monday 5 September. The dial-in details are as follows: +44 (0)20 3364 5381; PIN: 6293470.

The resource estimate was undertaken by SRK Consulting (UK) Limited ("SRK") in accordance with the requirements
of National Instrument 43-101 "Standards of Disclosure for Mineral Projects", of the Canadian Securities
Administrators ("NI43-101").

A summary of the updated mineral resource as at September 2011 compared to the resource estimate announced in
June 2010 is set out in the table below:

Baomahun NI43-101 compliant mineral resources

----------------------------------------------------------------------------
As at September 2011 As at June 2010
Tonnes Grade Gold Tonnes Grade Gold
(Kt) (g/t) (Koz) (Kt) (g/t) (Koz)
----------------------------------------------------------------------------
Measured and Indicated (1) 25,610 2.5 2,070 15,096 2.9 1,420
Inferred 9,600 2.8 860 12,168 2.6 1,033
----------------------------------------------------------------------------

(1) September 2011 resources are solely in the indicated category. The
resource estimate as at June 2010 was comprised of 510Koz (5,454Kt at
2.9g/t) in the measured category and 910Koz (9,642Kt at 2.9g/t) in the
indicated category.

Details of the resource estimation parameters are set out in the appendix below.

The increase in the mineral resources at Baomahun results from the completion of 16,021 metres of drilling
across a total of 53 holes, taking the total drilling at Baomahun to 96,474 metres (including geotechnical
holes).

The drilling programme provided sufficient data to demonstrate greater continuity of the deposit within the
existing mineralised areas. This resulted in a significant increase in the total tonnage of the mineralised
zones within the indicated category. The additional tonnes are however at lower grades leading to a reduction
in the overall grade of the measured and indicated resources compared to those announced in June 2010.

The updated mineral resource estimate has been classified on the basis of a different geostatistical
interpolation compared to that used for the June 2010 mineral resource estimate. In addition, the mineral
resource above is reported based on the definition set out by the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM) which states that "the cut-off grade or economic limit used to define a mineral resource must
provide 'reasonable prospects for economic extraction'." Full details of the methodology are set out in the
appendix below. As a result of the updated methodology, a more conservative approach to classification has been
applied, such that the previously reported measured resources have now been included within the indicated
category. This new methodology provides a robust mineral resource estimation which will form the basis of the
Baomahun definitive feasibility study.

Definitive Feasibility Study

Work for the definitive feasibility study is well underway, focusing on an open-pit only mining scenario
(compared to the higher risk combined open-pit and underground mining schedule set out in the Preliminary
Economic Assessment, previously announced on 13 August 2010). This is expected to be completed during Q4 2011,
incorporating a number of additional cost saving options recently identified by the Company.

The resource estimation and mining engineering aspects are being performed by SRK Consulting in the UK and
South Africa. Metallurgical engineering, process plant design and cost estimation work is being completed by
Senet Engineering of South Africa. The environmental and social impact assessment and management plans are
being completed by Amec in the UK. Amec have also undertaken the work on the tailing storage facility,
geotechnical engineering and hydrological and hydrogeological aspects.

As previously announced on 3 May 2011, the Company is also carrying out additional cost optimisation studies in
parallel with the definitive feasibility study. Knight Piesold of Canada is completing a separate feasibility
study for a run-of-river hydro-electric power facility which could provide the majority of the power
requirements for the mine at significantly lower costs than heavy fuel oil ("HFO") generation at site, as
envisaged for the base case in the definitive feasibility study. This is also expected to be completed during
Q4 2011.

Appendix: Resource estimation parameters:

(1) The estimates of mineral resources were calculated in accordance with
the definitions adopted by the Canadian Institute of Mining Metallurgy
and Petroleum and incorporated into National Instrument 43-101-
Standards of Disclosure for Mineral Projects ("NI43-101"). The mineral
resource estimate was carried out by Dr. John Arthur of SRK with
assistance from Andrew Owusu Asante of Cluff Gold. Dr John Arthur (CGeol
FGS, CEng MIMMM) is a Qualified Person under the guidelines set out in
NI43-101 and has reviewed this press release for accuracy and
compliance.

(2) The estimate of mineral resources may be materially affected by
environmental, permitting, legal, marketing, or other relevant issues.
For a full list of associated risk factors, please see the Risk Factors
section of the footnotes.

(3) Ounces represent estimated gold content present in the tonnes of ore
which would be mined and processed. Mill recovery rates have not been
applied in calculating the contained ounces.

(4) In accordance with the guidelines set out by the CIM and contained
within NI43-101, this mineral resource estimate for the Baomahun
property uses a 1.0g/t Au cut-off within a pit shell optimised using a
$1,500/oz Au to represent that portion of the resource which has
"reasonable prospects for economic extraction" from an open pit mining
scenario. In addition the block model below this pit shell has been
interrogated using a 1.5g/t cut-off to represent those blocks with
potential to satisfy an underground mining scenario. The resource
estimate announced in June 2010 was not constrained by an economic pit
shell and was calculated at a 1.0g/t Au cut-off for the entire resource.

(5) Cluff Gold's attributable portion of the mineral resource estimate is
100%.

(6) Tonnes and gold figures are rounded to the nearest '000. Grade is
rounded to 1 decimal point. As a result, numbers may not add up due to
rounding.

(7) The geostatstical classification methodology used by SRK in 2011 was
based on the QKNA methodology, compared to the drill density search
approach used in the 2010 resource estimate. The QKNA methodology
provides a detailed audit of the kriging parameters used for grade
interpolation and allows a sensitivity analysis to be performed to
identify the optimum search parameters to be used for the final
estimate. For the Baomahun deposit, this has provided additional
information which has resulted in a change of the classification from
measured to indicated. In the opinion of SRK this is a more appropriate
methodology for the Baomahun deposit and generates a more robust
classification with greater confidence than that generated by the
previous methodology used.

About Cluff Gold

Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates significant cash flow
through its Kalsaka gold mine in Burkina Faso. The Company remains focused on its objective of becoming a mid-
tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected
to contribute an additional 157,000oz of gold per annum, with significant exploration potential along strike.
With its experience of bringing new mines into production and a project pipeline of exploration licenses in
Burkina Faso and Mali, the Company aims to further increase its production profile with its highly prospective
exploration work across all assets.

Baomahun is Cluff Gold's defining development gold project in Sierra Leone. Definitive feasibility study work
is progressing in the immediate resource area, where 2.1Moz of measured and indicated resources 25.6Mt at
2.5g/t) and a further 0.9Moz of inferred resources (comprising 9.6Mt at 2.8g/t) have been delineated to date.
The current resource base is limited to only 1.5km of a total 12km strike length which remains largely
unexplored to date.

The Company is employing a two-fold strategy for Baomahun: to advance towards production with the current
resources while delineating additional ounces along strike.

This press release includes certain "forward-looking information" within the meaning of applicable Canadian
securities legislation. All statements other than statements of historical fact, included in this release,
including, without limitation, the positioning of the Company for future success, statements regarding
potential future production at Baomahun, the expansion of the resource base within existing pittable areas or
by underground mining methods, the potential generation of hydro-electric power at Baomahun, the timing of the
feasibility study and exploration and future drilling results at Baomahun, and future capital plans and
objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors that could cause actual results
to differ materially from Cluff Gold's expectations include, among others, risks related to international
operations, the actual results of current exploration and drilling activities, changes in project parameters as
plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify
important factors that could cause actual results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such statements will
prove to be accurate as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does
not undertake to update any forward-looking statements that are included herein, except in accordance with
applicable securities laws.

Dr John Arthur, (CGeol FGS, CEng MIMMM), of SRK Consulting (UK) Limited and a "qualified person" as such term
is defined in National Instrument 43-101, has reviewed the contents of this press release. Dr Arthur has
verified the data disclosed in this release and is independent of the Company.

Risk Factors:

Baomahun does not have identified Proven and Probable Mineral Reserves, which will be required as a basis for
determining if Baomahun has bodies of commercial mineralisation. The costs, timing and complexities of
upgrading the Mineral Resources at Baomahun to Proven and Probable Mineral Reserves could have a material
adverse effect upon the Company and would materially and adversely affect our potential mineral production,
profitability, financial performance and results of operations. Significant time and financial requirements are
needed for bringing Baomahun into production and there can be no assurance that we will be able to accomplish
this by 2013/2014, or at all.

Mineral exploration and development involves a high degree of risk and few properties which are explored are
ultimately developed into producing mines. With respect to Baomahun, substantial expenditures will be made by
Cluff Gold to confirm Mineral Reserves which are sufficient to commercially mine such property, and to conclude
appropriate fiscal stability agreements required to commence commercial operations. There can be no assurance
that the Mineral Resources at Baomahun can be commercially mined or that the metallurgical processing will
produce economically viable, saleable products. The decision as to whether a property contains a commercial
mineral deposit and should be brought into production depends upon the results of exploration programs and/or
feasibility studies, and the recommendations of duly qualified engineers and/or geologists, all of which
involves significant expense. This decision will involve consideration and evaluation of several significant
factors including, but not limited to: (1) costs of bringing Baomahun into production, including exploration
and development work, preparation of feasibility studies and construction of production facilities; (2)
availability and costs of financing; (3) ongoing costs of production; (4) market prices for the minerals to be
produced; (5) environmental compliance regulations and restraints; and (6) political climate and/or
governmental regulation and control. With respect to Baomahun we are currently preparing our new mine plan and
economic analysis of the proposed operations. Until such is done, there can be no assurance that our proposed
operations at Baomahun will be profitable. Our ability to sell, and profit from the sale of any eventual
mineral production from any of our properties will be subject to the prevailing conditions in the minerals
marketplace at the time of sale. The global minerals marketplace is subject to global market conditions and
changing attitudes of investors, consumers and other end-users' demand for gold. Many of these factors are
beyond our control and therefore represent a market risk which could impact the long term viability of Cluff
Gold and its operations.

FOR FURTHER INFORMATION PLEASE CONTACT:

Cluff Gold plc
J.G. Cluff
Chairman
+44 (0) 20 7340 9790

OR

Excelent results from Cluff Mining.....http://moneyam.uk-wire.com/cgi-bin/articles/20110912070006M1504.html

Best period to date and the sp is marked down . .. don't get that.

This is crashing... what's happening???

Lot's of good new's , just a matter of waiting

I've been waiting in vain...

http://www.investegate.co.uk/Article.aspx?id=20120112070026M0263

Libra Advisors up their stake by 3 million shares to 10.3 million

..Questor share tip: Drilling polishes up Cluff Gold's Ivory Coast project

Telegraph – 12 hours ago

......
Africa-focused miner Cluff Gold has reported significant drilling results from its Yaoure project in Ivory Coast. This is important because the project is not yet included in any analysts' valuations of the company.

Cluff Gold 86p +6p Questor says BUY

luff shares slumped over the last two months of 2011 after previously hitting highs of 125¾p earlier in the year. However, a series of positive announcements in 2012 has got the shares back on the up. Indeed, they have bounced almost 30pc since the end of December.

Cluff said results at the site, previously known as Angovia, gave it confidence that existing resources could be significantly increased during 2012. Currently reserves of gold are 169,000 ounces in the "measured" category and 123,000 ounces in the "indicated" category.

The company has changed the focus of the project (hence the name change) from gold oxides to gold sulphides. Gold oxides are easier to process, as they have been exposed to oxygen. This means they are contained in weathered material such as clay. Sulphides, however, are found in hard rock that has not been exposed to oxygen. This takes more processing but it looks as though this method will be more commercially viable.

"Yaoure, with existing mine infrastructure, is near a hydroelectric dam capable of supplying low-cost power for a sizeable milling operation, and abundant available water. [This] adds to our belief that Yaoure has the potential to become a further significant project for Cluff Gold," Peter Spivey, Cluff's chief executive said.

This followed some upbeat production numbers from Cluff's Kalsaka mine in Burkina Faso, released last week. Production at the mine in 2011 beat guidance, with 71,505 ounces mined, compared with the expected 70,000 ounces.

The company was strongly cash-generative last year and it had a year-end closing cash balance of $28.9m (£18.7m) and no debt.

The entire gold equity complex has underperformed significantly over the past year, despite the gold price hitting record highs. The proliferation of exchange-traded funds (ETFs) is likely to be the cause of this underperformance because they allow investors to play the gold price without any operational risk.

Miners have been facing costs pressure and there are exploration and political risks that investors do not get with an ETF. However, the main benefits of gold equities over ETFs is the upside risk from exploration success. This gives extra leverage to the gold price that an ETF does not have.

This week, broker Nomura issued an upbeat sector report on gold, saying it was initiating coverage of the sector with a "bullish rating".

"A cash build in the producers should drive growth, spur M&A and push dividends higher," Nomura said. "This improving outlook has yet to be priced into gold equities, which are trading at historical lows in terms of valuation, offering an attractive entry point given current market instability. We see light at the end of the tunnel for gold equity investors."

Trading on a 2012 earnings multiple of 15.9 times, the shares were first recommended at 62.3p on February 14, 2010, and they are up 38pc compared with a FTSE 100 (Euronext: VFTSE.NX - news) up 11pc. They have been tipped as high as 104½p and they are now 18pc below this level.

Of the six analysts in the City that cover the shares and are monitored by Bloomberg, all have buy rating with an average price target of 128½p.

The shares remain a buy.

..

Broker BUY backing for CLF.

Hemscott premium

Cluff Gold PLC

FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

GMP Securities
16-01-12 BUY 3.14 1.77
W H Ireland Ltd
05-12-11 MPER
Evolution Securities Ltd
05-12-11 BUY 9.00 2.33 8.10 0.97
Seymour Pierce
29-11-11 BUY 9.01 2.90 19.23 8.68
Westhouse Securities
12-08-11 BUY 6.60 0.70 16.80 7.00

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 9.39 2.92 13.39 4.24

1 Month Change -0.89 -0.74 -3.19 -2.76
3 Month Change 0.02 0.04 -1.32 -1.36


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS % % 44.92%
DPS % % %

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £12.27m £24.04m £20.67m
EBIT £-0.42m £8.88m £19.04m
Dividend Yield % % %
Dividend Cover x x x
PER -30.70x 30.11x 20.77x
PEG f f 0.46f
Net Asset Value PS 22.70p p p

Excelent update this morning.....

http://www.investegate.co.uk/Article.aspx?id=2012022907002

thanks gf

Brokers turning more and more positive
on CLF CLUFF GOLD.........

Cluff Gold PLC

FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

GMP Securities
27-02-12 BUY 3.16 1.90
Seymour Pierce
01-02-12 BUY 9.01 2.90 19.23 8.68
W H Ireland Ltd
30-01-12 MARK
Edison Investment Research
17-01-12 None 10.11 3.24 11.87 5.09
Evolution Securities Ltd
05-12-11 BUY 9.00 2.33 8.10 0.97
Westhouse Securities
12-08-11 BUY 6.60 0.70 16.80 7.00

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 9.43 2.98 13.78 4.35

1 Month Change 0.04 0.06 0.39 0.11
3 Month Change -0.04 0.00 -1.15 -1.40


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS % % 45.97%
DPS % % %

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £12.27m £23.82m £20.49m
EBIT £-0.42m £8.88m £19.04m
Dividend Yield % % %
Dividend Cover x x x
PER -35.41x 34.08x 23.35x
PEG f f 0.51f
Net Asset Value PS 22.70p p p

Hemscott Premium.

Wednesday, Feb 29 2012 by Fox Davies Capital

http://bit.ly/zsNBe7

Cluff Gold pleased with progress at Baomahun 29 February 2012 | 09:38am

http://bit.ly/yg3gcI

IG INDEX CLIENT SENTIMENT

a proxy for short selling updates
every 15 minutes.

Client Sentiment

LONG 100% of IG clients with open positions in this market expect the price to rise

0% of IG clients with open positions in this market expect the price to fall

Was an article out about Tom Winnifrith
at tips rating clf as 300/350p per share.

Il post it up if I can find it again.

Here we are CLF CLUFF GOLD

Cluff – we are buying aggressively. Shares are 106p but plausibly worth 350p

http://sharecrazy.com/beta/

Broker Upgrade....

Cluff Gold ALL-AIM Basic Materials Buy 136 101 34.7% Seymour Pierce

SP target 136p Upside 34.7%

CLUFF/NYO Ocean Equities looks at East African vs West African gold stocks Monday, March 05, 2012

http://bit.ly/zb1lQa

Came across this interview with Cluff Gold.

Pretty interesting interview with Pete Gardner the FD.

Well worth a listen:
http://www.brrmedia.co.uk/event/98441/pete-gardner-finance-director

Just bought back into Cluff. Recent results make good reading and the price of gold looks set hopefully to be breaking out from a triangle to the upside. Further QE here and Europe plus US should help.

Found this recent news item across the road....

CLUFF GOLD (LON:CLF) today revealed more encouraging results as it continues to work towards a maiden gold resource at its Yaoure project in Cote d'Ivoire this fourth quarter.

John Meyer, at broker FAIRFAX, says the company is ‘progressing well’ towards that target.

Meanwhile, WESTHOUSE SECURITIES analyst Rob Broke explained that no value for Yaoure is yet factored into his ‘STRONG BUY’ recommendation and 117p price target.

As such he says there is ‘potential for upside’ to his current view on the stock if a significant resource can be delineated by the end of this year.

Brokers SOUNDLY behind cluff....

Cluff Gold PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

W H Ireland Ltd
16-08-12 BUY 13.82 8.79 21.47 10.38
Westhouse Securities
15-08-12 SBUY
Seymour Pierce
07-06-12 BUY 2.36 6.94
GMP Securities
28-05-12 BUY 3.71 10.36
Edison Investment Research
25-05-12 None 13.28 4.91

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 13.63 5.57 0.00 21.47 9.45 0.00
1 Month Change -1.20 1.53 0.00 -0.80 1.88
3 Month Change 0.11 2.51 0.00 21.47 3.75


GROWTH
2011 (A) 2012 (E) 2013 (E)
Norm. EPS % -6.61% 69.79%
DPS % % %

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £22.95m £23.86m £49.88m
EBIT £13.32m £m £m
Dividend Yield % % %
Dividend Cover x x x
PER 11.11x 11.90x 7.01x
PEG f -1.80f 0.10f
Net Asset Value PS 18.76p p p

CLF CLUFF GOLD
A BUY signal on the weekly candles....

http://www.britishbulls.com/weekly/StockPage.asp?CompanyTicker=CLF&MarketTicker=Basic Materials&Typ=S

CLF Cluff Gold

Broker Concensous figures going
forward to 2013 look very bullish.

Fantastic growth... 73% increase in EPS predicted.

Cluff Gold ForecastsYear Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield

31-Dec-13 80.50 17.48 5.81p 11.4 0.2 +73% n/a 0.0%

I have two long positions in Cluff, 1 Sept and 1 Dec future. Sept is a small loss, Dec a small profit, overall I'm slightly up. Both futures set to auto-rollover. Forward looking at gold Mexico has my attention at the moment, one cheap labour and two ever increasing JORC, Newstrike and http://tmx.quotemedia.com/article.php?newsid=53205176&qm_symbol=NES rns currently has my attention.

Certainly a volatile little devil shortie. Im betting the beta is well above 1.

CLF CLUFF GOLD

Lets put some SP targets on them
Broker buy notes.

Cluff Gold Broker Views

Date Broker Recommendation Price Old target price New target price Notes

16 Aug WH Ireland Securities Buy 66.88 101.00 90.00 Reiterates
15 Aug Seymour Pierce Buy 66.88 136.00 136.00 Reiterates
15 Aug Westhouse Securities Strong Buy 66.88 117.00 117.00 Retains
14 Aug Seymour Pierce Buy 66.88 136.00 136.00 Reiterates
14 Aug Westhouse Securities Strong Buy 66.88 117.00 117.00 Retains

Source...Norwich and Peterborough B/Society.

Excelent reading material on Gold
and gold miners...........

http://www.moneyweek.com/investment-advice/how-to-invest/strategies/right-side-things-are-looking-up-for-gold-60222

Gold is an attractive unimpaired commodity however there are many others that aren't at an all time high. Not really sure I like that article GF....

yep had a mixed response.

Broker snap just out and its
a Strong Buy..........

24 Aug Cluff Gold PLC CLF Westhouse Securities Strong Buy 68.50 68.00 117.00 112.00 Retains

http://www.advfn.com/newspaper/tom-winnifrith/8258/cluff-gold-takeover-target-yes-but-also-a-mega-buy-on-fundamentals


An interesting read - apologies if already posted.

Brokers note......

http://www.proactiveinvestors.co.uk/companies/news/47292/westhouse-says-cluff-gold-represents-good-value-repeats-strong-buy-recommendation-47292.html

Worth a read....

http://www.tradersown.co.uk//magazine/read/gold-is-in-very-strong-bull-market_765.html

Next stop 85p?

That and more I hope Harry.

Cluff Gold has "packed" newsflow schedule, says Edison
3:30 pm by Giles Gwinnett

It also said it expected further improvements in grades and output from its producing asset - the Kalsaka mine in Burkina Faso
Investors can look forward to plenty of newsflow from West Africa focused Cluff Gold (LON:CLF, TSE:CFG) in the rest of the year, says research house Edison.

Scheduled is a resource update for the fomer producing Yaoure project in the Ivory Coast in the fourth quarter and a preliminary economic assessment for the Sega project, which neighbours the Kalsaka project, analyst Charles Gibson points out.

Meanwhile, in Sierra Leone, a resource update is scheduled for Cluff's flagship Baomahun project in October this year.

At Yaoure, Cluff is assessing a “potentially very large” sulphide resource, which is believed to sit beneath the previous open pit mine.

It comes after, last month, the company revealed a 21 per cent increase in production in Q2 this year compared to the first quarter.

It also said it expected further improvements in grades and output from its producing asset - the Kalsaka mine in Burkina Faso.

Gibson said that for the remainder of the year at Kalsaka, the higher grade is expected at least to be maintained, the stripping ratio to remain below 6.7 and a degree of the gold locked-up in inventory to be released.

Consequently, output from the project is still expected to be in the range of 60,000 to 70,000 ounces at a cash cost for production of US$986 per ounce, he said.

Edison puts a valuation of the company at over £1.

"Assuming the efficient evolution of operations from Kalsaka to Sega and the successful execution of the Baomahun mine plan, which is on track to produce first gold in FY15, Edison estimates a current value to investors from future potential dividends of US$1.62 (£1.02) per share after exploration expenditure (at a long-term gold price of US$1,350/oz and a discount rate of 10 per cent to reflect general equity risk), says Gibson.

This afternoon, Cluff shares were up 1.44 per cent, changing hands at 70.25 pence.

Starting to move up nicely after a few days were it looked like a seller was bailing out.

CLF

Broker views and Target SPs.

Date Company Name Broker Rec. Price Old target price New target price Notes

24 Aug Cluff Gold PLC Westhouse Securities Strong Buy 72.38 117.00 112.00 Retains
16 Aug Cluff Gold PLC WH Ireland Securities Buy 72.38 101.00 90.00 Reiterates
15 Aug Cluff Gold PLC Seymour Pierce Buy 72.38 136.00 136.00 Reiterates

Gold spiking up to 1700 and above?.

WOW that finished well.

Not sure that is the 'wow' factor yet! I want another 10p at least, please! 85p my target and then will reassess.

Yep was wanting 100p plus myself. Cant get greedy though.

Harry check the ohlc chart, breakout from a pennant pattern.

Cluff Gold

Broker SP targets....

Cluff Gold Broker Views

Date Broker Recommendation Price Old target price New target price Notes

24 Aug Westhouse Securities Strong Buy 74.38 117.00 112.00 Retains
16 Aug WH Ireland Securities Buy 74.38 101.00 90.00 Reiterates
15 Aug Seymour Pierce Buy 74.38 136.00 136.00 Reiterates

Norwich And Peterborough B Society.

Paul Kavanagh ‏@KavanaghKillik

Probability of QE3 next week above 50% ....Goldman

Looking good.

Ahhh broken that resistance at 75p. Fingers crossed.

Fingers crossed indeed if it doesn't stall at 85p, this is where I'm expecting heavy resistance.

Line from March to May Yep. good point.

Is a lot of news though forecast for CLF so if its good we should blast through the resistance at 85p.

Lets see if momentum holds up first GF, I'd love to see this one 'blasting' through 85p however I anticipate strong resistance here. Lets hope for positive news to maintain traction. With a bit of luck we're be selling before Christmas with a very nice profit in hand.

Yep "Lets get Shortie"......... wink........ mate.

Holding(s) in Company
FOR: Cluff Gold PLC

AIM SYMBOL: CLF
TSX SYMBOL: CFG
September 10, 2012

Cluff Gold: Holdings in Company

LONDON, UNITED KINGDOM--(Marketwire - Sept. 10, 2012) - Cluff Gold PLC (AIM:CLF)(TSX:CFG) -

For filings with the FSA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)

1. Identity of the issuer or the Cluff Gold PLC
underlying issuer of existing shares to which voting rights are attached:(ii)

2 Reason for the notification (please tick the appropriate box or
boxes):
An acquisition or disposal of voting rights X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the Libra Advisors, LLC
notification obligation:(iii)
4. Full name of shareholder(s) (if Libra Fund, LP
different from 3.):(iv) Libra Offshore Master Fund, LP
5. Date of the transaction and date on September 7, 2012
which the threshold is crossed or
reached:(v)
6. Date on which issuer notified: September 10, 2012
7. Threshold(s) that is/are crossed or
reached:(vi, vii)
8. Notified details:
A Voting rights attached to shares(viii, ix)
Class/ Situation previous Resulting situation after the triggering
type of to the triggering transaction
shares transaction

if possible using the ISIN CODE
Number Number Number Number of voting % of voting
of of of shares rights rights (x)
Shares Voting
Rights
---------------------------------------------
Direct Direct (xi)Indirect Direct In-
(xii) direct
=---------------------------------------------------------------------------
common 15,581,221 15,581,221 14,692,846 14,692,846 8.7%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of % of voting
instrument date(xiii) Conversion voting rights
Period(xiv) rights that may be acquired if the instrument is exercised/converted.
=-------------------------------
C: Financial Instruments with similar economic effect to Qualifying
Financial Instruments (xv, xvi)

Resulting situation after the triggering transaction

Type of Exercise Expiration Exercise/ Number of % of voting
financial price date (xvii) Conversion voting rights rights (xix,
instrument period(xviii) instrument xx)
refers to Nominal Delta
Total (A+B+C)
Number of voting rights Percentage of voting rights
=---------------------------------------------------------------------------
14,692,846 8.7%

9. Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable:(xxi)

Libra Fund, LP: 13,606,570
Libra Offshore Master Fund, LP: 1,086,276
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder
will cease to hold:
12. Date on which proxy holder will cease
to hold voting rights:

13. Additional information:
14. Contact name: Ranjan Tandon
15. Contact telephone number: 212-350-5125
FOR FURTHER INFORMATION PLEASE CONTACT:

Cluff Gold PLC
Ranjan Tandon
212-350-5125


Cluff Gold


I hold

Anyone agree its about time we got director deals shorter and more to the point.

sorry GF

Gold miners in general seem to be doing well at mo, my VGM has suddenly come to life along it seems with MARL on the climb.,.

StockMarketWire.com
Cluff Gold has signed a memorandum of understanding for a long term strategic partnership with Samsung C&T Corporation.

This alliance starts with an unhedged US$20m facility to provide additional funding to Cluff Gold to further the development of its portfolio of assets.

The MoU provides a general framework for the potential long term funding of Baomahun and other development opportunities.

The initial facility forms part of a wider strategic alliance between Cluff Gold and Samsung which is a global trading company.

Cluff Gold has a producing mine, Kalsaka in Burkina Faso, and a strong pipeline of development assets which is expected to generate a long term production profile.

Through this long term partnership Samsung will have access to a reliable supply of gold bullion, underpinned by the company's strong operational and management team whilst Cluff Gold will benefit from Samsung's financial support.

The relationship is expected to result in a significant financing in Cluff Gold's Baomahun project, subject to the outcome of the feasibility study, together with an ongoing commitment to jointly assess other opportunities in the region.

80p! Now we're talking!!! ;o)

Hey riv not having a go at u mate. Just mean the way they display directors dealings could be lot shorter and more to the point.

Yep great news Harry re - funding. Game on but dont forget this is one spikey little devil.

UPDATE 2-Samsung C&T to fund Cluff Gold in Africa<000830.KS>12 Sep 2012 - 10:20

* Cluff to get an initial $20 mln loan * Samsung C&T can buy gold at 2.25 percent discount * Funding deal could eventually be worth more than $100 mln * Cluff shares up 2.6 percent (Adds comment from FD, analyst, share price) By Sarah Young LONDON, Sept 12 (Reuters) - South Korean group Samsung C&T <000830.KS> is to fund Cluff Gold's activities in west Africa in return for being allowed to buy gold from the British miner at a discount. Cluff will get an initial $20 million loan from Samsung C&T, which could rise to around half the estimated $200 million costs of the British group's Baomahun project in Sierra Leone. Finance director Pete Gardner said on Wednesday the deal removed concerns over funding at a time when weak equity markets meant investors were questioning how firms which needed to raise sums for development projects were going to be able to do that. "It takes a huge burden off our back," he said. Cluff shares were up 2.6 percent at 0900 GMT. The deal with Samsung C&T, a company valued at $9 billion and dwarfing Cluff's 129 million pound ($207 million) market capitalisation, is unhedged, meaning Cluff retains direct exposure to the gold price. Gardner said that was positive for the company since he expected the price of gold to continue rising. Gold, seen as a way to preserve value, has more than doubled in value since late 2008 when the United States first used quantitative easing as a means to encourage economic growth. [ID:nL5E8KA9OA] Cluff will sell 1,929 ounces of gold per month to Samsung C&T at a 2.25 percent discount to a benchmark market price the day prior to delivery. Westhouse Securities analyst Rob Broke said the deal seemed "an attractive arrangement for Cluff as it will allow them to develop their existing projects while potentially addressing some of the capital expenditure funding concerns at Baomahun". Cluff said it would use the $20 million to develop its Sega project in Burkina Faso, adding that, under the deal, Samsung C&T could become a cornerstone investor in its other projects such as Baomahun. ($1 = 0.6226 pound) (Editing by Dan Lalor) (sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net) Keywords: CLUFFGOLD SAMSUNGC&T/

12 Sep Cluff Gold PLC CLF Seymour Pierce Buy 81.88 76.25 136.00 136.00 Reiterates

136p SP Target

CLF(79p)

Cluff Gold boosted by Samsung tie-up.(ProactiveInvestors):-

12/8/12 by Jamie Ashcroft

Shares in West Africa focussed miner CLUFF GOLD (LON:CLF) advanced today as the company revealed the strategic partnership with Samsung.

The initial agreement sees Cluff receive a US$20 million loan. And it will lead to Cluff to supplying Samsung with gold bullion.Cluff says the new partnership is expected to result in a ‘significant’ financing for the development of Baomahun subject to a positive outcome of the ongoing feasibility study.

In a conference call today chairman John McGloin stressed that importantly the new Samsung deal still allows Cluff to benefit from rising gold prices, as it does not ‘hedge’ the production that’s earmarked for the North Korean firm earmarked gold product.This, he says, is a positive for Cluff.

“We believe that the outlook for gold companies is not too dissimilar to that seen in recent years with worldwide inflation leading to rising gold prices and higher production costs. And this financing ensures that Cluff retains full exposure to the gold prices that will more than offset any costs of inflation.”

Cluff will begin supplying gold to Samsung one month after the first drawdown under the initial $20 million loan.
The deal has much greater significance for Cluff beyond this initial loan however as it paves the way for a pivotal and much larger financing deal that will play a part in the development of the Baomahun mine.

“The key issue (announced) today is not the initial $20 million facility (itself), but the longer term opportunities that it unlocks. Importantly the initial facility provides a framework the potential funding of Baomahun, and other development opportunities.”

McGloin explains that the terms of the financing are competitive compared with other debt-based options available. And, he says, that it provides Cluff with sufficient flexibility in its balance sheet to allow it to use existing cash-flows from production for further exploration whilst maintaining momentum in the continued development of the Kalsaka/Sega project.

Cluff is on target to produce between 60,000 and 70,000 ounces of gold this year from the Kalsaka gold mine in Burkina Faso, and it will soon enhance the project as it starts mining ore from the nearby Sega mine.

In the meantime the company continues to advance its growth plans with the focus on delivering Baomahun.The project hosts 2.1 million ounces of gold resources. A new resource model and calculation are due next month. That will be an important milestone in the completion of the feasibility study, which is already said to be at an advanced stage.

It is expected that the start up of Baomahun will tip Cluff’s annual gold production beyond 100,000 ounces in 2015, and that figure will rise significantly to around 135,000 ounces by 2016.

Earlier today, City firm OCEAN EQUITIES described the new partnership as a ‘great deal’ for Cluff.

“It also demonstrates a trend in the market for miners to pursue alternative funding options to equity raises,” said analyst Christopher Welch.“Cluff benefits on several fronts but most importantly it has brought in an instantly recognisable strategic partner into its future developments; a partner with deep pockets and cache in the international community.”

Welch adds: “There is an immediate benefit for Cluff in that this deal really strengthens Cluff’s financial position as it brings Sega into production and so we expect Cluff shares to have a positive reaction to the news.

“However, the larger benefit is that Cluff has forged a relationship with a global conglomerate that is a large gold consumer. The implications for this are great and reduce Cluff’s overall funding risk as well as secure gold supply for Samsung.”

Positive, positive, positive, been away for a couple of days and come back to good news... Surely the sp has to hold its bite! Think I'll add a 3rd Future in these.

I have.

Broker Brief.....

14 Sep Cluff Gold PLC CLF Westhouse Securities Strong Buy 81.00 78.00 112.00 112.00 Reiterates

112p SP target.

87p resistance to get through first.

3 month chart, DMA 13,25 & 50 - Doesn't get much better than this, second is FS. This stock has to now be on the radar of most technical trackers... 85-87p resistance level I'm guessing we'll smash, 100p psychological level though might be more of a challenge.

Just tipped on Growth Company
Investor........

ecogz Updates ‏@Precogz

#CLF Cluff Gold BUY http://precogz.com/N04E6846D3A


http://www.growthcompany.co.uk/

14/09/2012
This gold miner looks a steady bet in challenging times...


Sorry not a subscriber to GCI therefore no live link..

Am out at fractionally over 88p. Having got in at 69.5p that will do for me for the moment. Thanks to gf for the heads up with this one.

And theres the debate, do I take profits or stay in, not one to buck the trend especially when its firmly positive for me. A look at level 2 dissappoints though, very low volumes in this stock making me wary. Stop losses at the ready, I think this has further to go.

Excelent day. Still looking for 120p plus.

Adding a further 4% today, I guess gold is set to soar with the Fed's QE3 plans of $40b every month till further notice...

Fingers crossed shortie.

Got a good read across the road.

Ill transport it.

jim sinclair has picked up on the samsung deal

http://www.jsmineset.com/

Found the article a good read GF, the first article on QE3 coming into unimpared commodities gold/silver etc. was also a good read and backs my own sentiment on QE3. Must resist the temptation to weight my spreads in the direction of Cluff at the moment.

Just one more push.....


CLF

Technicaly nearing a down channel
breakout through the ceiling at 90pish

Very positive.

Volume looks very perky, and some
would say overbought but these lower
indicators the oscilators can plateau
for long periods.

Golden Cross in the making this looks like

Very Yodaesk!

Broker Buy Targets

Date Company Name Broker Rec. Price Old target price New target price Notes

18 Sep Cluff Gold PLC Westhouse Securities Strong Buy 80.88 112.00 124.00 Reiterates
13 Sep Cluff Gold PLC HB Markets Speculative Buy 80.88 - - Initiates/Starts
12 Sep Cluff Gold PLC Seymour Pierce Buy 80.88 136.00 136.00 Reiterates
16 Aug Cluff Gold PLC WH Ireland Securities Buy 80.88 101.00 90.00 Reiterates

Seymour pierce lading the way
with a 136p SP Target.

Looking for 120p myself.

NORWICH & PETERBOROUGH BUILDING SOCIETY

You are going to jinxed this now, goldfinger ;-)

StockMarketWire.com
West Africa-focused Cluff Gold has changed its name to Amara Mining and confirmed the resignation of three non-executive directors as part of the board's review of its structure.

It says these changes mark the beginning of the company's transition into a mid-tier gold producer, through the extension of production at the Kalsaka/Sega gold mine, which funds the progression of its pipeline projects, Baomahun and Yaoure, where the company is completing a feasibility study and expanding the resource base respectively.

It says they also symbolise a new era for the company in terms of leadership, with John McGloin's appointment as executive chairman on 28 May and the resignation of Nicholas Berry, Dr Bobby Danchin and Ronald Winston, effective 30 September.

From today (1 October), the board will comprise of three executive directors and three non-executive directors, a more appropriate number for a company of Amara Mining's size.

Change of name...... new ticker.....

AMA

http://www.investegate.co.uk/Article.aspx?id=201210030700107728N

Change of name and leadership not exactly been the best move for shareprice. Think I'll take some profit..!

Taken a roasting this morning.

Piss poor start by new management.

A lot of confusion was present at the open.

Havent sold any but showing a paper loss now. Plenty of hopefully positive news flow to come going up to JAN.

December spreads bought for 55p profit now realised. John McGloin's appoinmtment I'm not sure is a good one, the company requires leadership and direction not analysts. This shite start by the reduced board has put me on the fence.

With a high of around 92p and the sp now sub 80p, shouldn't you guys have taken profits somewhere around 83p (assuming a 10% stop from the high)? No critism intended, but interested if you were using stops or other strategy.

In hindsight yes I should have applied a stop loss to the trade but didn't. Although the sp has taken a dent I wouldn't have normally sold out a position on this alone. The thechnicals are still bullish as is the trading picture. I'm at a loss however with the name change which I regard as unnecessary and McGloins appointment to add any real value. I don't consider a board change to restructure the business necessary either, if Cluff were failing to meet milestones then it would be different but they aren't so whilst rns talks about a new era as a mid-tier producer I see nothing within the changes announced that will smooth the transition!

nah harry only use following stops myself to lock in profits. In 2008 the markets spiked tremendously and you were wiped out in just seconds. It still happens. Certainly was the case a couple of weeks back.

Tend to use a winning ratio of 2.5 to 1 and place a note on my Stock watch list so I have a mental stop loss.

Still looking for 120p, just think it was a technical cock up today by the market admin who were taken by suprise, supposed to be end of week new name ticker etc.

Panicked out and some of the herd followed.

Thought it was today when BOE monthly meeting was on??. Is it next week?.

QE and all that.

http://www.businessinsider.com/charles-gibson-unearths-hidden-mining-gems-in-africa-2012-10


Worth a read

I Hold

1stOct2012:
Name change -
"...West Africa-focused Cluff Gold has changed its name to Amara Mining . . . [AIM: AMA]
and confirmed the resignation of three non-executive directors
as part of the board's review of its structure...."

I guess now that Mr Cluff has other interests with his name CG wants to break free . . .

duplicated - pse remove