Cluff Gold Share Discussion Threads

[pineapple1] 16/4/2012 06:58

Yeah good set of numbers from CLF but when has making a profit made any difference to miners share prices unfortunately.Valuations getting daft now but i guess things can get to stage-ridiculous before a turn .
I didn,t expect them to say Baomahun was dead and buried but did expect to see an RNS saying the forest boundry was not satisfactory therefore go back to the drawing board (and further delays once plans re submitted)
But if imminent is soon then i guess going by other forecasts, it should be approved by year end......lol
Anyway CLF is the only miner i have now so i will continue to curse it if it goes down but my AVM short, in the money, offers up a good hedge should the sector continue to plunge.

[sithuk] 16/4/2012 06:18

Excellent results. I was starting to worry about the lack of environmental permit for Baomahun, and I suspect the delay (originally due Q1) is the reason for the recent fall here. The permit is now "imminent". The share price collapse has been indicating that Baomahun is dead due to the permit delay. I wonder what the price will do today.

Baomahun, Sierra Leone

-- Significant resource increase throughout the year to 2.1 million ounces
in indicated category (46% increase over the previously announced
measured and indicated resources), and 0.9 million ounces of inferred
resources
-- Accelerated investment in 2011 increasing by over US$10m to US$16.3m as
the project transitions to construction
-- Environmental permit expected to be issued imminently
-- Feasibility study remains on track for completion in June 2012 with
construction commencing in November 2012 and first gold pour targeted
for 2014

"Our flagship project, Baomahun, continues to progress well, and is now at a pivotal time in its development.
Indicated resources increased by 46% in September and we look forward to the updated resource statement due for
completion later this month. The environmental permit, which is now the only outstanding item in the regulatory
process, is expected to be issued shortly, and the feasibility study remains on track for completion in June
2012. The work undertaken for the run-of-river hydro-electric power project has demonstrated that it could
provide substantial savings in operating costs, in addition to de-coupling the project economics from the long
term oil price."

"The financing of Baomahun will be a key milestone for the Company, and there is a clear appetite for financing
this project through debt funding from a number of institutions that will help minimise equity dilution.
Management is committed to delivering the most cost effective means of financing the project in the interest of
shareholders, which could mean a mixture of debt and equity. Discussions are on-going with a number of
potential financiers, and the Company intends to announce the preferred financing solution alongside the
feasibility study."

[p@] 16/4/2012 06:17

The Company will host an analyst presentation covering the results, which can be attended live at 09:30BST
today via teleconference at the following numbers:


UK C/Paid: 44 20 7190 1595
UK Freephone: 0800 358 5263


A replay facility will also be available shortly after the conclusion of the presentation via the following
access numbers:


UK C/Paid: 44 20 7959 6720
UK Freephone: 0800 358 9369
Access Code: 4532192#

[mozy123] 15/4/2012 18:31

$30 in cash these really are fire sale share prices

[jdk8] 15/4/2012 17:53

2011 results presentation out on the web site - dated 16th April!!!!

[john148] 13/4/2012 18:37

CLF is a share one should not take their eye off.Just when you think there is no longer reason to hold it will rise and I suspect it will be because of bid speculation.

[pineapple1] 13/4/2012 12:51

Not really as i am flat POG now but wish i had taken my own advice and shorted the dog from higher prices but i did make a loss on it overall after trading it along the way.Glad i never held out for to long.
But hey who is making money in gold miners at the moment
.....on the long side.
My AVM short doing ok though.

Yes its difficult to make ones mind up over this ,but judging by the price action i think the market knows.Most just being perma bulls think no bad things can happen.
imho

As these falls are on low volume i can,t find the confirmation i need to go full on bearish and go short

[ppidkw] 13/4/2012 11:26

About as long as it takes you to make up your mind whether you like this company not Pineapple! You must be sick as a dog about your POG, I've taken a small position there at 505p recently, bit of a gamble being Russia but so is West Africa. Let's see where we are come the end of the June.

[pineapple1] 12/4/2012 22:51

Bearish comments on CLF .Am i dreaming or are a few waking up to the fact that this share like 90% of them are all hype.The only people who get rich are the directors.
How long does it take to agree a forest boundry.lol

[amargosa] 12/4/2012 21:00

The company has indicated they thought the permit would be issued in Q1; before that they thought it was going to be issued within 3 months of their conference call (in November 2011). They appear very confident that this is just a formality and perhaps it is, but they clearly have no idea when the forest boundary is going to be approved; I can't help thinking there is some skulduggery (by the SL government) going on in relation to the timing of the permit being issued. Just a feeling, but the share price is going down atm.........as ever, just a passenger wearing a blindfold and with throat exposed.

[jdk8] 12/4/2012 15:49

I thought that we were due an environmental permi Q1 - hope this doesn't turn out to be another ENK!

[amargosa] 12/4/2012 15:18

Management need to start delivering on promises; I don't think the major shareholders will have much good will left. They have had plenty of money for a long time, but just don't seem to be able to deliver anything substantial. I was somewhat taken aback by the nature of the fund raising - how did they manage to persuade investors to stump up all that money - what did they tell them - we are about to use it as wisely as we did the last lot? There must be something else.

[jdk8] 12/4/2012 12:57

Come back Algy - alls forgiven!

[ronnie corbet] 04/4/2012 15:07

edison note

[ppidkw] 03/4/2012 17:41

Can't get enough of that wonderful Duff!

Looks like all change by the end of May, or maybe Algy will stand down at the end of Q3, or maybe Q1 2013...

[jdk8] 03/4/2012 08:14

fitton - I would think so given the history of Cluff companies (eg Ridge).

[fitton] 03/4/2012 07:48

Will the news make a takeover more likley?

[p@] 03/4/2012 07:15

LOL............DOH!

[pineapple1] 03/4/2012 06:16

How about DUFF gold......lol

[jdk8] 02/4/2012 22:18

So Algy is standing down - going back to oil! So I guess that the company will need a new name.

[inside building] 01/4/2012 18:31

Cluff Gold
CFG
Clarus cuts price target to C$3.65 from C$3.75; rating buy

This was on Wednesday i guess following the presentation. At the current rate of exchange this is £2.28.

IB

[fitton] 27/3/2012 21:10

2012 to be 'defining year' for Cluff Gold says broker
Monday, March 26, 2012 by Philip Whiterow
Seymour Pierce has maintained a buy stance on African-focused gold miner Cluff Gold (LON:CLF) after it completed a £23 million fundraising last week.

Cluff will use the funds on its multiple exploration and evaluation programmes, while completing the acquisition and development of the Sega project in Burkina Faso.

Seymour Pierce said: "Although there is notable dilution, we believe Cluff is right in trying to maintain the momentum that it gained in 2011.

2012 is going to bring plenty of news flow and should be a defining year for the company."

The broker expects underlying earnings in 2012 to be US$19.3 million rising to US$36 million in 2013.

Seymour Pierce adds that while the Baomahun project in Sierra Leone remains the top prize, prior to its start up (second half of 2014) the Kalsaka mine in Burkina Faso has become an important operation for Cluff.

The acquisition of Sega has alleviated much of the concern over the dwindling reserves at that mine and brings c.600koz into the group, more than currently outlined at Kalsaka, at a competitive price.

The broker adds that the combined operation can now be continued to at least the end of 2015, when closure next year was a threat based on existing reserves at Kalsaka alone.

Furthermore, Cluff believes that Sega's resources can be high-graded (2g/t+) which would offer a distinct advantage over Kalsaka's current production.

Assuming today's throughput rate is maintained, Kalsaka/Sega production could increase from a 70kozpa to 100kozpa, the broker said.

Initial estimates indicate capital expenditure of just US$8 million would be required to upgrade the existing facilities, road access and fleet, while operating costs would also be much lower.

[inside building] 26/3/2012 23:43

Rogism,

Three years ago i had the time to trade my shares and i actually wished i hadn't having originally picked shares that have subsequently SURGED. I was in GKP at 5p, AMER at 2p, IAE at 28p, AR. at 4p etc. So if i would have been in the job i am in today 3 years ago i would potentially be a very, very wealthy man...

I decided about two years ago to stick with my investments as i had a day job!!

It would be fair to say that in the two years Cluff has not produced results for the longer term investor as yet. The share price is actually lower than it was two years ago after the potential bid etc.

In two years the company has had some bad luck and in my opinion has actually suffered with the cautioness of the previous management. When they should have been raising money to drill out Baomhaun and the other assets they were happy to just repair the balance sheet. This was in my opinion a mistake as the share price and the future prosperity of the business was going to be based on proven gold in the ground. However, i think this cautioness has actually protected Cluff from being taken over.

Now today with the recent fund raising Cluff are in a much healthier position.
One producing asset, £30m plus in the bank after the SEGA acquisition, 4/5 potential operating assets, 4-5m ozs in the ground, a high gold price, Baomhaun two years away from production and a market cap heading towards £170m. They may only need to raise £100m by the time that Baomahun construction is finished and with a raft of institutional investors and bankers on board this could already be sorted. Surely the placing shares suggest that this could be the case???


Anyway good luck to all in Cluff i am here for another 2 to 3 years.

IB