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

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....