Proactiveinvestors recommends

Additional Information

Market:	AIM / TSX
Sector:	Gold Mining
EPIC:	CLF
Latest Price:	94.25 (2.17% )
52-week High:	125.75
52-week Low:	66.50
Market Cap:	124.31M

1 year chart

1 day chart

Cluff Gold Full Cluff Gold profile here

Cluff Gold plc 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 Group has assembled a portfolio of mineral interests at various stages of development in Côte d’Ivoire, Burkina Faso, Sierra Leone, Mali and Ghana. Cluff Gold progressed from being an explorer to a producer in Q1, 2008. The aim is to provide a steady progression of mines coming into production and to have the capacity to produce 300,000 ounces of gold annually.

Cluff Gold appoints technical director Chikohora as non-exec

Friday, September 03, 2010

West African-focused gold mining company Cluff Gold (LON:CLF) has appointed its technical director Douglas Chikohora as a non-executive director and consultant to reflect its focus on development.

Both the Angovia and Kalsaka mines are now fully operational and the Baomahun asset in Sierra Leone is advancing towards the feasibility stage. Cluff is now transitioning into a development company less focused on exploration.

The company said that this, and earlier appointments of Pete Gardner joining as CFO (Chief Financial Officer) and Peter Spivey as COO (Chief Operational Officer), were made to support the “next stage of growth and development”.

Chikohora was one of the co-founders of Cluff Gold and had an overall responsibility for the acquisition and development of the Angovia and Kalsaka mines, together with the successful exploration programme at Baomahun.

In his new capacity of COO, Spivey took over responsibility for Cluff’s producing and development assets, including a remit to drive the development of Baomahun.

Chikohora has now taken the decision to relinquish his executive position to focus on building up a new exploration portfolio of base metal projects in Africa.

“The company's strategy is now geared to increasing production at its two producing mines and developing Baomahun into a world class gold asset. Whilst I am keen to further use my exploration skills, as a non-executive director, I will continue to work closely with the new management team and assist in the future growth of the company,” said Chikohora.

The Kalsaka and Angovia mines produce 100,000 oz (ounces) of gold annually. The company aims to become a second tier producer through the development of Baomahun, which is expected to contribute an additional 157,000 ounces of gold per annum, with significant exploration potential along strike.

Back in June, Cluff Gold upgraded Baomahun’s NI43-101 Mineral Resource, increasing total Measured and Indicated Resources by 27% to 1.4 million ounces (Moz) of gold – with over 15 million tonnes of mineralisation grading 2.92 g/t (grammes per tonne).

Baomahun contains a further 1.03 Moz from 12.1 million tonnes grading 2.64g/t in the inferred resource category.

Chikohora said then that Baomahun could exceed the company’s expectations.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.