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

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