Cluff Gold plc: Change of Name and Corporate Update
01.10.2012 | Marketwired
LONDON, Oct. 1, 2012 - Cluff Gold plc (TSX:CFG) (AIM:CLF) ("Cluff Gold" or "the Company"), the dual AIM and TSX listed West African focused gold mining company, announces that it has changed its name to Amara Mining plc, effective immediately. The Company also announces the resignation of three Non-Executive Directors as part of the Board's review of its structure.
These changes mark the beginning of the Company's transition into a mid-tier gold producer, through the extension of production at the Kalsaka/Sega gold mine, which funds the progression of its pipeline projects, Baomahun and Yaoure, where the Company is completing a feasibility study and expanding the resource base respectively.
They also symbolise a new era for the Company in terms of leadership, with John McGloin's appointment as Executive Chairman on 28 May 2012 and the resignation of Mr Nicholas Berry, Dr Bobby Danchin and Mr Ronald Winston, effective 30 September 2012. From 1st October 2012, the Board will comprise of three Executive Directors and three Non-Executive Directors, a more appropriate number for a company of Amara Mining plc's size.
The word Amara is of African origin and means grace, eternal and immortal. The logo is a fern, which is a West African Adinkra (symbol) representing endurance and resourcefulness. The new branding reflects the Company's operational ethos across its assets.
The Company's ticker will change to AMA on the London Stock Exchange's AIM and to AMZ on the Toronto Stock Exchange once approval has been received from the TSX, which is expected by the end of this week. The corporate website address will change during the course of today to www.amaramining.com and Company email addresses have changed to the format of firstname.surname@amaramining.com.
In addition, the Company has changed its registered office to 29-30 Cornhill, London, EC3V 3NF, effective immediately. The main office telephone number has changed to +44 (0)20 7398 1420 and the fax number has changed to +44 (0)20 7398 1421.
Peter Spivey, Chief Executive Officer of Amara Mining plc, commented:
"The Company is at an exciting time in its development and the change of name seems a fitting start to an era that will see us transition into a mid-tier producer. We could not have reached this point without the knowledge and experience of Bobby, Nicholas and Ron, so I'd like to thank them for their good counsel during the Company's formative years. The name Amara and the symbol of the fern represent our focus on West Africa and I am delighted that the Company's founder, Algy Cluff, has given the change of name his blessing. With John McGloin's appointment as Executive Chairman and a number of key milestones across our assets on the horizon, we look forward to the growth of Amara Mining plc in the years to come."
About Amara Mining plc
Amara (formerly 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, where the production profile has been enhanced by the recent acquisition of the neighbouring Sega project. Amara remains focused on its objective of becoming a mid-tier producer through the development of its Baomahun project in Sierra Leone and its Yaoure project in Côte d'Ivoire. With its experience of bringing new mines into production and a project pipeline spanning Burkina Faso, Côte d'Ivoire and Mali, Amara aims to further increase its production profile with its highly prospective exploration work across all assets.
This report includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.
All statements other than statements of historical fact included in this report, including, without limitation, the positioning of the Company for future success, statements regarding exploration, production estimates and future objectives of Amara, 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 Amara's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, the results of the Baomahun feasibility study, changes in project parameters as plans continue to be refined as well as the future price of gold. Although Amara 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. Amara does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Contact
Amara Mining plc
John McGloin, Chairman
+44 (0)20 7398 1420
Amara Mining plc
Peter Spivey, Chief Executive Officer
+44 (0)20 7398 1420
Amara Mining plc
Pete Gardner, Finance Director
+44 (0)20 7398 1420
Amara Mining plc
Katharine Sutton, Head of Investor Relations
+44 (0)20 7398 1420
Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
John Prior / Sebastian Jones / Joe Weaving
+44 (0)20 7523 8350
Pelham Bell Pottinger
(Financial Public Relations)
Charlie Vivian / Daniel Thole / James MacFarlane
+44 (0)20 7861 3232
These changes mark the beginning of the Company's transition into a mid-tier gold producer, through the extension of production at the Kalsaka/Sega gold mine, which funds the progression of its pipeline projects, Baomahun and Yaoure, where the Company is completing a feasibility study and expanding the resource base respectively.
They also symbolise a new era for the Company in terms of leadership, with John McGloin's appointment as Executive Chairman on 28 May 2012 and the resignation of Mr Nicholas Berry, Dr Bobby Danchin and Mr Ronald Winston, effective 30 September 2012. From 1st October 2012, the Board will comprise of three Executive Directors and three Non-Executive Directors, a more appropriate number for a company of Amara Mining plc's size.
The word Amara is of African origin and means grace, eternal and immortal. The logo is a fern, which is a West African Adinkra (symbol) representing endurance and resourcefulness. The new branding reflects the Company's operational ethos across its assets.
The Company's ticker will change to AMA on the London Stock Exchange's AIM and to AMZ on the Toronto Stock Exchange once approval has been received from the TSX, which is expected by the end of this week. The corporate website address will change during the course of today to www.amaramining.com and Company email addresses have changed to the format of firstname.surname@amaramining.com.
In addition, the Company has changed its registered office to 29-30 Cornhill, London, EC3V 3NF, effective immediately. The main office telephone number has changed to +44 (0)20 7398 1420 and the fax number has changed to +44 (0)20 7398 1421.
Peter Spivey, Chief Executive Officer of Amara Mining plc, commented:
"The Company is at an exciting time in its development and the change of name seems a fitting start to an era that will see us transition into a mid-tier producer. We could not have reached this point without the knowledge and experience of Bobby, Nicholas and Ron, so I'd like to thank them for their good counsel during the Company's formative years. The name Amara and the symbol of the fern represent our focus on West Africa and I am delighted that the Company's founder, Algy Cluff, has given the change of name his blessing. With John McGloin's appointment as Executive Chairman and a number of key milestones across our assets on the horizon, we look forward to the growth of Amara Mining plc in the years to come."
About Amara Mining plc
Amara (formerly 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, where the production profile has been enhanced by the recent acquisition of the neighbouring Sega project. Amara remains focused on its objective of becoming a mid-tier producer through the development of its Baomahun project in Sierra Leone and its Yaoure project in Côte d'Ivoire. With its experience of bringing new mines into production and a project pipeline spanning Burkina Faso, Côte d'Ivoire and Mali, Amara aims to further increase its production profile with its highly prospective exploration work across all assets.
This report includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.
All statements other than statements of historical fact included in this report, including, without limitation, the positioning of the Company for future success, statements regarding exploration, production estimates and future objectives of Amara, 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 Amara's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, the results of the Baomahun feasibility study, changes in project parameters as plans continue to be refined as well as the future price of gold. Although Amara 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. Amara does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Contact
Amara Mining plc
John McGloin, Chairman
+44 (0)20 7398 1420
Amara Mining plc
Peter Spivey, Chief Executive Officer
+44 (0)20 7398 1420
Amara Mining plc
Pete Gardner, Finance Director
+44 (0)20 7398 1420
Amara Mining plc
Katharine Sutton, Head of Investor Relations
+44 (0)20 7398 1420
Canaccord Genuity Limited
(Nominated Adviser & Broker, London)
John Prior / Sebastian Jones / Joe Weaving
+44 (0)20 7523 8350
Pelham Bell Pottinger
(Financial Public Relations)
Charlie Vivian / Daniel Thole / James MacFarlane
+44 (0)20 7861 3232