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

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.