Corporate - Company Profile
The Board, which has considerable experience developing mining operations across Africa, believes that West Africa is one of the most exciting regions for gold exploration and production today. West Africa combines prospective geology with sound mining investment codes, indicative of a region which is keen to attract and retain foreign investment.
Cluff Gold plc has made significant progress since the Company floated on AIM in December 2004, increasing gold resources across its projects, transforming from an explorer to a producer, expanding the project portfolio and broadening the investor base to an increasingly international audience.
Key Investment Criteria
- Good spread of assets within West Africa, one of the most exciting un-developed regions for gold exploration
- Successful development of two gold mines within four years from listing on AIM
- Annualised Gold production in 2009 estimated to be in region of 100,000 ounces
- Potential to increase reserves at current operating gold mines
- Excellent exploration potential of a million + ounce resource
- Proven exploration and development teams
- Experienced Board of directors and management with proven track record
Highlights 2008/09
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Construction of two gold mines
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Successful fundraising in March 2008
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First gold poured at the Angovia Gold Mine in March 2008
- Seven fold increase in Measured and Indicated resource at Baomahun Gold Project announced in June 2008
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Acquisition of remaining interest in Baomahun in August 2008
- 25 year Mining Lease issued by the Government of Sierra Leone for the Baomahun Gold Project September 2008
- First gold poured at the Kalsaka Gold Mine in October 2008
- Listing on the TSX in February 2009
- Successful fundraising in March 2009
- Kalsaka gold mine exited Commissioning on 30th June 2009
- Angovia gold mine exited Commissioning 30th September 2009
“2008 has been a pivotal year for the Company in that this was the year which saw us emerge from an explorer to a producer. To bring two mines onto production in two countries, neither of which has a strong mining support framework, was a formidable task but with a good team, hard work and a little luck, we won through. I am pleased to report that production this year has improved month on month and I expect both operations to be out of commissioning by mid-year with indications supporting combined production of 100,000 ounces of gold for 2009."
JG Cluff, Chairman and Chief Executive 27 May 2009
“For the fourth year running our Group resource position has increased and is now over 2 milion ounces of Measured and Indicated resources of gold with an additional Inferred resource of over 600,000 ounces of gold. Most of this increase came from Baomahun, our flagship Gold Project located in Sierra Leone, where we acquired the remaining 40% interest in August 2008. "
DD Chikohora, Technical Director 27 May 2009
Last updated: 2010/02/15 02:36:27 PM
