New Cluff Gold Chairman optimistic about Baomahun Gold project in Sierra Leone
The newly appointed Non-Executive Chairman of Cluff Gold, Mr. Algy Cluff (in photo) has expressed optimism over recent developments at the Baomahun project in Sierra Leone which is expected to contribute an additional 157,000 oz of gold per annum, with significant exploration potential along strike.
He said the company has built two producing gold mines and is developing its Baomahun asset in Sierra Leone, which “we believe has the potential for becoming a world class gold asset.”
Cluff Gold Plc – listed West African focused gold mining company, announces that Mr. JG Cluff, Executive Chairman, is to become Non-Executive Chairman of the Company from 1st August 2011.
Mr. Cluff has been Chairman of the Company since he founded Cluff Gold in 2003 and held the role of Executive Chairman and Chief Executive until 31st December 2010 when he relinquished the role of Chief Executive to Mr. Peter Spivey.
As Non-Executive Chairman of the Company, Mr. Cluff will oversee the strategy for the company and provide guidance and assistance to the executive management team.
His new role is expected to incorporate a significant executive component, including helping to oversee relationships with key stakeholders and partners (including governmental). Mr. JG Cluff commented: “I am justly proud as to what Cluff Gold has achieved.”
The Company has built two producing gold mines and is developing its Baomahun asset in Sierra Leone, which we believe has the potential for becoming a world class gold asset.
I have also had the privilege of working with a first class management team and wish to pay tribute to those colleagues who have helped build this company into a successful gold mining company in the last eight years.
Over the past 18 months, the Board has been mindful of succession planning and we were delighted to recruit Peter Spivey, who first joined as Chief Operating Officer and took up his new role as Chief Executive at the beginning of this year.
He has the necessary skills to drive this business forward ably supported by our Finance Director, Pete Gardner and the rest of our executive team based in London and at our other geographic locations in Africa .
The Company is in a very good position at present. It has a healthy cash balance, no debt and as well as developing Baomahun, we have an exploration programme in place at our existing operations in both Burkina Faso and the Ivory Coast.
We fully expect this programme to extend the lives of our existing mines significantly. I am also particularly proud that Cluff Gold’s assets are situated in Africa.
Africa has all the potential for becoming an economic powerhouse of the 21st century and I wish to pay tribute to all the governments we have partnered with, who have helped us build up our operations in Sierra Leone, Burkina Faso and the Ivory Coast .”
Mr Peter Spivey, Chief Executive of Cluff Gold, commented: “On behalf of all staff, I wish to pay tribute to Algy. He has been a leading light of the UK mining and resource sector for over 50 years creating jobs and wealth for both this country and in Africa .
As an Entrepreneur, he has set an example that through hard work and determination, ambitions can be realised. At Cluff Gold, he has overseen the development of a very successful business which will go on to achieve even greater success and we welcome the fact that he will continue to be a part of that as our Non-Executive Chairman.
We wish Algy well in the new business ventures he will undoubtedly become involved with.”
Cluff Gold is a gold developer-producer with assets in West Africa . The company generates significant cash flow through its Kalsaka gold mine in Burkina Faso.
The company remains focused on its objective of becoming 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 oz of gold per annum, with significant exploration potential along strike.
With its experience of bringing new mines into production and a project pipeline of exploration licences, the company aims to further increase its production profile with its highly prospective exploration work across all assets.
When interviewed by phone from London, the Country Manager of Cluff Gold SL, Mr. Alusine Jalloh had this to say on the recent developments; “both Mr. Algy Cluff (the chairman) and Mr. Peter Spivey (CEO) have good track records of taking companies from the prospecting to the production stage. Hence there is no doubt in my mind that our Baomahun Gold project will be a success story”.
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