CLF10 Apr 2011 18:10
Cluff Gold produced 20,000 ounces of gold from its Ivory Coast mine last year and was hoping to increase production this year and beyond. The country has been in turmoil, with President Laurent Gbagbo clinging to power after being beaten at the polls by Alassane Ouattara. But the flagship operation is in Sierra Leone, where the company believes it will be able to produce at least 150,000 ounces a year by the end of 2012, taking its total annual production, including Burkina Faso, to 220,000 ounces by early 2013. Mining is always risky, so investors should hedge their bets and sell half to three-quarters of their stock, says the Mail on Sunday.