Cluff Gold Share Discussion Threads

[stevea171] 24/2/2012 17:08

This has been very strong all week with high volume. 102,153 bought after the close at 104p with 1 million traded for the day which hasn't been bettered in the past 6 months.

It would appear there is something going on. As I commented a few days ago the buyer/s are very stealthy trying not to push the share price up but it's happened anyway!

The heavy buying suggests there is some urgency to acquire the stock wanted. Apparently there was an IC comment yesterday about a possible takeover here.
This could be more than just rumour!
Where there's smoke there's fire .... ??!

[pineapple1] 23/2/2012 18:28

Ronnie.....Yes you,re quite right about what i said but i did add that i will remain with a small holding in some that i had previously had quite largeish positions (for me anyway) in which i sold off many moons ago (just in case i was wrong about them).
Hence i only have a couple of K POG and about 10k here.I still don,t think the sector is going to perform until gold is well over $2000 per oz and that may take a while.
If gold does rise to those levels i will certainly re evaluate my bearishness on the sector.Plus don,t want to be to bearish at or near bottoms like i was higher up......imho

I mentioned the chart pattern here a few weeks ago and bought another 5000 as a result.Hopefully it will play out.

[ronnie corbet] 23/2/2012 17:57

i thought you werent touching gold stocks ever again pineapple?

[pineapple1] 23/2/2012 16:33

I like the chart even more now.Definetly a bullish inverse H&S.....IMHO

[simonbroughton] 23/2/2012 16:32

On the verge of a significant breakout here. Perhaps the gold bandwagon is starting up?

[amargosa] 23/2/2012 16:06

LOL

Practically 2 years to the day since the takeover attempt announcement.

[thetache] 23/2/2012 15:32

Aha, Mr Breakeven, we meet again at last!!

[stevea171] 22/2/2012 09:04

Funds Managed by Libra Advisors, LLC Acquire Shares of Cluff Gold plc for Investment Purposes
TORONTO, Feb. 21, 2012

Libra Advisors, LLC announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. have acquired a total of 4,363,329 Ordinary Shares of Cluff Gold plc at a price of £0.935 per share and subsequently disposed of 55,601 shares at a price of £0.936 per share and further disposed of 17,104 shares at a price of £0.940 per share. In aggregate, these share transactions represent approximately 3.25% of the total shares of Cluff Gold.

As a result of this acquisition and together with securities previously held by the Funds, the Funds now own 14,475,024 shares representing approximately 11.0% of the total outstanding shares of Cluff Gold.

The Funds acquired the shares for investment purposes and may, from time to time, acquire additional securities of Cluff Gold or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to the Funds and maintains its principal office at 777 Third Avenue, 27th Floor, New York, NY 10017.

[stevea171] 21/2/2012 15:29

Large buyers about for stock here but mainly picking up stock on the sell side of the order book. Last night one got impatient and took 25-30k off the buy side in the last couple of minutes before close pushing up the closing price.

Gold and silver rocketing. Gold back to $1750.

Questor buy last month following drill results at Yaoure.

Questor share tip: Drilling polishes up Cluff Gold's Ivory Coast project

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.

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, CLF shares were first recommended at 62.3p on February 14, 2010, and they are up 38pc compared with a FTSE 100 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.

[inside building] 19/2/2012 10:04

Interesting that Cluff are not exhibiting/attending this years PDAC mining conference in Canada at the beginning of March. From memory this is one show that they regularly go to. Obviously too busy with other things going on!!

Citi Group would appear to have retained their shares so not sure where the 4m plus came from. If this was Private Investors it would make sense. Libra want to maintain their shareholding with 11m new shares about to be issued to Orezone.


IB

[amargosa] 17/2/2012 22:33

That's the Big question for 2012. I think a couple more decent drill results and some entity could pounce - before the DFS and accompanying finance package - they won't want to be disadvantaged by any finance CLF may tie itself into.

[inside building] 17/2/2012 21:54

There is a bit of stake building going on and Cluffs US investors keep increasing their position. The question is do they see the end game or will they sell out to the bidder when it comes?

If you were going to make a bid for Cluff (you would do it in the next 4-6 mths) and if you could see what most see here which is one large 3moz plus mine in Sierra Leone, another potential large suphide resource in under explored Ivory Coast and projects in Burkina Faso which could also become much larger assets. Cluff themselves have stated on their presentations that they believe their existing resources could get them to 500k ozs per annum in the long term and 250k ozs in the short term. This is a big chunk of incremental assets which could be purchased very cheap even at £2 per share.

IB

[amargosa] 17/2/2012 20:56

I' say they got them from Citi Group, who (I think) sold them recently, having bought at 68p.Who'd have thought they were common or garden spiv traders.

[mozy123] 17/2/2012 20:07

Morro - Private investors who sell on the way down and buy on the way up. Nothing ever changes lol

[morro] 17/2/2012 19:14

I wonder where Libra got the extra 4 million shares from?

[stevea171] 15/2/2012 11:17

Cluff Gold's Ivory Coast sulphide drilling points to significant operation
19th Jan 2012

Initial work suggests that a significant open pit resource could be delineated at favourable stripping ratios said Cluff. Gold sulphide drilling results from Cluff Gold's (LON:CLF, TSE:CFG) Ivory Coast acreage indicate a lot of future potential, brokers said today.

Shares rose 8% to 86.75p as Cluff itself described the results from the Angovia project - now called the Yaoure project - as "very promising".

Broker Shore Capital added Yaoure has the potential to become a significant operation in future and today's news was a positive for the shares.

The company said it was confident that the existing resources at Yaoure - consisting of 169,000 ounces in the measured category and 123,000 ounces in the indicated - can be significantly increased during this year.

Initial work suggests that a significant open pit resource could be delineated at favourable stripping ratios.

Importantly, testwork indicates that the sulphides are not refractory, suggesting that recovery from a standard CIL plant will not be a problem.

"To this end, we have approved a US$6.6 million budget for an aggressive 79,000m exploration drill programme in 2012 which is currently underway," said Cluff's chief executive Peter Spivey.

"Our focus is to delineate sufficient sulphide resources to sustain a CIL operation, whilst at the same time continuing to search for lateritic and saprolitic oxide resources, which could result in an early re-opening of the heap leach operation."

Spivey added that Cluff remained confident the project could deliver considerable value for shareholders.

The company decided to re-evaluate Yaoure last year and has now decided to concentrate on the sulphide potential rather than the oxide resources - hence the change of name.

Today's results mainly stem from the Yaoure Central area, where 23 diamond holes were sunk in a 1,967 metre programme.

The results include 28.35 metres at 3.24 grammes of gold per tonne in hole YD0021, 31.60 metres with 1.97 g/t in hole YD0014 and 13.25 metres at 4.14 g/t in hole YD008.

The project is also within 5km of a hydro-electric power source and in a location where abundant water is available.

It added that a second phase of diamond drilling focusing on the N-S structures, consisting of 2,000 metres across 9 holes, has begun with results expected in March this year.Meanwhile, an additional 1,000 metre drilling programme following up on the E-W structures is planned for February this year, with results expected this April.

Shore Capital added that if the group is successful in its search for lateritic and saprolitic oxide resources at its Angovia prospect, this would enable the moth-balled heap leaching operation to restart and provide a source of early cashflows to help fund further Yaoure's development.

Oriel Securities added that Cluff's commitment to a US$6.6m budget for the Yaoure project suggests it is confident of delineating a significant sulphide resource and that the proximity of infrastructure will support a CIL/CIP operation.

[selkirk69] 15/2/2012 10:50

Yes definately a scam, they tried that on me with Logica shares that I had sold yrs ago.

[labatie] 15/2/2012 10:43

SCAM WARNING? I assume

Has anyone been contacted by an outfit called Leroy something, who claim to be stock transfer agents? International call

They claim that CLF has been taken over by Suncore(?) Energy and are presumably trying to get their hands on certs.

[amargosa] 15/2/2012 09:07

Same number of shares bought by Citi recently.

[inside building] 15/2/2012 08:56

Expect another RNS on holdings.
4,363,329 shares transacted at 17.18hrs last night.
Difficult to see if this was a purchase or sale with the mid price of 93.5p quoted.

Any ideas?

IB

[inside building] 14/2/2012 18:55

I don't think the Cluff non exec's have ever purchased their shares. In the past it has always been the freebies that have built up their holdings which are not large. So would tend to agree that 20k of shares is a nice sign but not a massive purchase.

The share price movement at the moment looks as though it is trying to shake out a few private investors. In particular those that bought recently at 65-75p and might be tempted to capitalise on a nice % profit.

I was reading the RNS on Yaoure last night and it does look as though the Sulphide resource could be significant. They have only drilled under the existing pit basin and it would not surprise me if the next RNS highlights that the resource could double to 500k ozs. This would be just in this small section of the overall area. There are several targets that are in line for the 70,000mtr drill programme budgeted for 2012.

IB

[nottud] 14/2/2012 13:12

Just seen today's RNS @ 13:00 - At least one of the non-exec directors has bought 20K @ 93p. Should be a good sign.

[ppidkw] 10/2/2012 17:21

Latest presentation from recent Mining Indaba in South Africa on the Cluff website