raised £ots at 5p with about half as many Warrants (so effectively the placing was a little over 3p - DYOR), but it's been a steady climb to 5p as the Market waits for something to happen.
The company is relying on the founder of Cluff Gold [CLF] and his World-wide contacts to do deals, I'm guessing.

Sadly these are bad times for Listing - and AIM in general and Greece/Spain/Euro woes are no help, IMHO. Still wish them luck in all they survey, etc.
EDIT(27Jn2012): sp down a liitle 5p5 - = halfway between start and peak.
EDIT (29April2016)-April Fundraising covers disasterous 2015 ( eg shut-down of Scottish coal-gas projects ) . . . . and continued low Oil-price, leaving sp abt.1p5 - this must be an all-time low. The cash should see them thro 2016 with a little to spare (they say) for more N.Sea deals, etc.
EDIT(4Nov2016)-Placing at 2pp. damages sp. Will we see 1p5 again, soon?
EDIT (21Nov2017)-sp=1p7 after Oct2017 minor "Dilution"-25m shares Total now 400m. The Plan remains to start on N.Sea licenses =good, but I guess this stock has some way to go before folks think it's worth the 5p of years ago. Mentor likes this stock, FWIW.

Bought some last Friday @ 2.935p

3.15p +0.15p

on the way up as demand for the shares is strong for the last 45 minutes
The breakout an the Inverted Head & shoulders now taking place is working wonders for the share price
spread of 3.10 v 3.20p
Level 2 of 2 v 1

Good to see on the RNS confirmation of hat we're speaking with potential farm-out partners

Even if CLNR and PMG( or another) embark on a jv, ultimately one of the very big boys will come fishing, once the reserves have been proven.
Cluff are sitting on a huge amount of potential in just the right area, and at an opportune time.
One has to conclude that this share is still probably unbelievably cheap

Share price is now over the 50 days MA another bullish signal

Target 10p

Analyst Target Changes
January 5, 2017 6:45 am Writer: Camille Ainsworth Posted In: European Broker Ratings

A number of investment brokers have recently updated their price targets on shares of Cluff Natural Resources (LON:CLNR). According to the latest broker reports outstanding on Thursday 5th of January, 0 analysts have a rating of “strong buy”, 0 analysts “buy”, 0 analysts “neutral”, 0 analysts “sell” and 0 analysts “strong sell”.

Recently released broker ratings:

23/03/2016 – Cluff Natural Resources had its “Buy” rating reiterated by analysts at Panmure Gordon. They now have a GBP 10.00p price target on the stock.

The share price of Cluff Natural Resources (LON:CLNR) was up +0.96% during the last session with a day high of 2.65. 2276729 shares were traded during the last trading session.

The stock’s 50 day moving average is 2.55 and its 200 day moving average is 2.68. The stock’s market capitalization is 6.76M. Cluff Natural Resources has a 52-week low of 1.00 and a 52-week high of 7.74.

Cluff Natural Resources Plc is engaged in the exploration, evaluation and development of mineral exploration targets. The Company focuses on the development of its gas licenses in the Southern North Sea. The Company has working interest in approximately nine underground coal gasification (UCG) licenses in the United Kingdom covering a total of approximately 640 square kilometers. The Company’s UCG licenses are located in approximately five coal basins in Central Scotland, the Dee Estuary, Cumbria, Durham and South Wales. Its Loughor Estuary license is located in Carmarthenshire, South Wales and covers an area of approximately 42.1 square kilometers. Its point of Ayr license straddles the England Wales boarder, covering approximately 69.5 square kilometers. Its Cumbria license covers an area of approximately 182.5 square kilometers. Its Largo Bay license covers an area of approximately 80 square kilometers.

3.50p +0.425 (+13.82%)

There is volume on the rise lately always positive, but it takes it time to do a proper rise, but today could be the day with a BREAKOUT

eerlier Today 10:37

SHAME on them
WINS and SCAP done the shake at the same time, needed stock to fill their empty book by then, since both they have move up and now at bid 3.30p, and only Cantors ( CFEP ) trying to put some order and back at offer alone @ 3.40p
---------------
now
3er round under way, lets see where it takes us
the bid is higher than earlier 3.50p now at 3.55p

KEEP an EYE

CLNR 3p ( 2.95/3.05p )

Have done the 68.2% Fibonacci retracement @ 2.95p after the last rise and now 3 days of holding at around this bottom, also a 50% retracement from the 2p bottom . ( considering the CUP and Handle chart ) with the CUP already done is now doing the handle before climbing to the 5/6p.

CUP done handle in the process aiming for 5 to 6p

After 3 weeks of going side ways today is on the bounce with volume, maybe finally will make the move to that 4p first and then 5 or 6p.
The chart is on the proces of a CUP and Handle shape
The CUP took about 92 days to be formed and the Handle takes half the time ( now 40 days ) so ready for the move up

Today's CUP & Handle

3.20p +0.15 (+4.92%)

Nice follow through of yesterday's rise with volume
A 250k buy delayed trade just appeared on the ticker

After a few days at low for some time, today the buys are returning and now paying full offer and the sells are gone. There is a target of 10p by brokers. Double bottom on the chart.

--

Cluff Natural Resources PLC (CLNR.L, 2.58p, £8.6m)

Operational Update
Further de-risking supports SNS farm-out

CLNR has recently announced a further de-risking of licence P2248 in the Southern North Sea (SNS). This should support free-carry farm-out negotiations. Drilling is a distinct possibility in 2018.
Over the past two years a rigorous data evaluation programme for P2248 and P2252 has been undertaken leading to a substantial prospective resource base by junior standards of 2.4 tcf.

The latest appraisal work has significantly enhanced the chances of success and boosted risked resources. We believe that a combination of the advanced technical work undertaken, the positive findings of an independent scoping study, encouraging data room traffic and the prospectivity of the Carboniferous zone of the SNS all bode well for concluding a farm-in deal by early Q4 2017.

The forthcoming results of the BP Ravenspurn North exploration well, which is targeting a Carboniferous prospect analogous to those on nearby P2248, could be highly influential in the farm-out process. Near-term CLNR is in part, at least, a play on the outcome of the BP well. (Peter Dupont)

Motoring just now after being lower earlier

Evening Standard - Anthony Hilton: The perils of ignoring North Sea oil are very real

Algy Cluff, one of the pioneers of the original oil discoveries in the North Sea a generation ago, received an OBE last weekend in the Queen’s Birthday honours list for his contributions to business, of course, but also to his substantial but unsung charity work.

Then, yesterday, he received a further present in the shape of a broker’s report singing the praises of his venture, AIM-listed Cluff Natural Resources, which is at present trading at around 2.5p having been as high as 5.8p and as low as 1.07p in the past 12 months.

Remarkably, however, the broker Allenby Capital reckons that the shares could be worth 12.5p, five times as much as they are now, albeit the caveats which surround any mining and exploration venture.

This column does not tip shares for the good reason that it normally gets it wrong but Cluff deserves a break.

At an age when most people would long since have retired from the scene he has had the energy and nerve to assemble a small bundle of properties in the southern North Sea, at a time when with the collapse in energy prices scared off most of the competition.

In late April the petroleum engineering company Xodus released a report which said that if gas stayed within the price range predicted for it in the next few years then the Cluff properties had the potential to make significant money. It has been established that there is certainly gas there, but the question is whether Cluff can persuade someone else to come and drill it for him, in return for a slice of the profits, because he does not have the money to do it himself.

Obviously landing this kind of deal is harder than it might be because of the squeeze on energy prices has reduced the appetite in the industry for drilling yet more holes, even when the prospects are good. But Allenby is excited because BP is drilling nearby at the moment in similar geology, and if they get good results then clearly that will kickstart interest in Cluff’s assets.

Nothing is ever certain but the brokers clearly think he has a good chance of finding a partner and, if he does, on the basis of what they think is down there, the shares could take off. And one has to say that if they do, it is no more than Cluff deserves.

Anthony Hilton: At long last, Algy is getting the returns he deserves

Signs on turn around after the large rise and retracement again

Up to 3.30p and down to 2.525p this morning, now 2.625p

CLNR - 2.425p + 0.225 +10.23%

On the way up with volume, also share price moving over the 50 day MA, very important if it holds

Is motoring today, after yesterday's smalleer rise

The chart is signalling the end of the downtrend at the end of July

Well after an Official "Extension" to two(?) N.Sea plots (Nov2018-DYOR), it looks like the Market's not impressed - there should be drilling long ago. sp 1.68 Seems AH is pleased with this, though as it strengthens their hand in negotiations.... well get on with it, or is the Drilling Co. working on even bigger gas fields, perhaps with oodles of cash....? We should be told, their cash-position each time, as this reduces risk, IMHO.