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Production progress for Cluff

Article Date:  Nov 03 2008

Cluff Gold expects an annual 100,000 oz of gold from two West African mines as from next year.

The AIM-quoted company says its Kalsaka project in Burkina Faso has poured its first gold after being officially opened by the country’s prime minister, Tertius Zongo. This follows the opening earlier this year of London-based Cluff’s Angovia gold mine in Ivory Coast.

With two mines now in production, Cluff’s technical director Douglas Chikohora claims the company is ‘optimistic that we shall be able to achieve a production rate of 100,000 oz in 2009 and shall generate cash flow’. That should bring some comfort to investors who seen Cluff Gold shares plunge from 110p in February to 10.5p last month before perking up to 18.25p now, valuing the company at £17.7 million.       

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