3 Sep 2010 07:00
3 September 2010 AIM:CLF/TSX:CFG
Directorate Change
Cluff Gold plc ("Cluff Gold" or the "Company"), the dual AIM/TSX-listed West African-focused gold mining company, announces that Douglas Chikohora, the Company's Technical Director, has been appointed a Non-Executive Director and Consultant, effective from 1 September 2010.
Following the advancement made at each of its three assets, Cluff Gold is now transitioning into a development company less focused on exploration. Both the Angovia and Kalsaka mines are now fully operational. The Baomahun asset in Sierra Leone is advancing towards feasibility stage with the completion of a Scoping Study which was published on 12 August 2010. The Company has also made key management appointments to support its next phase of growth and development, with Pete Gardner joining as CFO and Peter Spivey joining as COO in October 2009 and January 2010 respectively.
Douglas was one of the co-founders of Cluff Gold and had overall responsibility for the acquisition and development of the Angovia and Kalsaka mines, together with the successful exploration programme at Baomahun. In January the Company appointed Peter Spivey as Chief Operating Officer to take over responsibility for the Company's producing and development assets, including a remit to drive the development of the Baomahun project in Sierra Leone. Douglas has now taken the decision to relinquish his executive position to focus on building up a new exploration portfolio of base metal projects in Africa.
Douglas Chikohora, Non-Executive Director of Cluff Gold, commented:
"I have been delighted to be a part of the Cluff Gold team since its inception and I am very proud of what the Company has already achieved. The Company's strategy is now geared to increasing production at its two producing mines and developing Baomahun into a world class gold asset. Whilst I am keen to further use my exploration skills, as a Non-Executive Director, I will continue to work closely with the new management team and assist in the future growth of the Company."
Mr JG Cluff, Chairman and Chief Executive of Cluff Gold, commented:
"I have worked with Douglas for over twenty years and he has been a key driver in the success of Cluff Gold. Through his endeavours and skill at identifying assets that become producing and commercial mines, he has generated significant value for the Company and its shareholders. As the Company moves forward in its development as a gold producer, Douglas has agreed to remain a Non-Executive Director where I and my fellow directors can continue to seek his counsel and benefit from his undoubted skill and expertise."
Ends
For further information, please contact:
Cluff Gold plc
J.G. Cluff/Douglas Chikohora
Tel: +44 (0) 20 7340 9790
| Evolution Securities Limited Rob Collins Tim Redfern Tel: +44 (0) 20 7071 4300
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Notes to Editors:
About Cluff Gold
Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates cash flow from its two producing assets, Kalsaka in Burkina Faso and Angovia in Côte d'Ivoire, which together produce a total of 100,000 ounces of gold per annum. The Company strives to become a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000 ounces of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production, the Company aims to further increase its production profile with its highly prospective exploration work at all three projects.
This News Release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential future production at Angovia, Kalsaka and Baomhaun, exploration and drilling results at Baomahun, and future capital plans and objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Douglas D Chikohora has reviewed and approved the information contained within this announcement. Mr Chikohora (MSc., MIMMM., CEng) is a Non-Executive Director and Consultant of the Company.