London, England — MININGREVIEW.COM — 23 March 2010 – Cluff Gold plc — the AIM and TSX-listed gold mining company focused on West Africa – says it produced a record amount of 19 288 oz of gold in January and February 2010 — 14 887 oz at Kalsaka in Burkina Faso and 4 401 oz at Angovia in Côte d’Ivoire.
Announcing this in a statement here, the company revealed that this production had subsequently been sold at an average price of US$1 112 per oz.
The statement added that production at Kalsaka was ahead of forecast due to a number of factors, including the delayed recovery of gold from fine ore processed in Q4 of 2009, together with the impact of modifications to spraying efficiency and improved stacking methodology. Average operating cash costs per ounce produced at Kalsaka in the period, excluding royalties and off-take costs, was US$547. This compared to the cash cost of US$595 per ounce for the previous six months.
Production at Angovia was in line with current expectations, and the average operating cash costs per ounce, excluding royalties and off-take costs, was US$797. The company was finalising a technical study on potential modifications to the Angovia processing plant which had the potential to improve operational efficiency.
Cluff Gold chairman and chief executive Algy Cluff commented: “We are delighted to announce record production from our two mines at Kalsaka and Angovia in the first two months of 2010. The results are ahead of our production forecasts and we are confident that this strong performance will continue throughout the year.”