Cluff Mining plumps for platinum

12 April 2012

CLUFF Mining is getting rid of its gold and niobium interests in Burkina Faso, Gabon and Zimbabwe to concentrate on the Blue Ridge West and Sheba's Reef platinum deposits in South Africa.

Exploration results suggest there are 2.8m ounces of platinum at Blue Ridge West. Chairman Algy Cluff said the AIM-traded group would know by the end of this year whether to sink a mine.

Figures to 31 December, covering the first eight months since listing, showed a loss of $8.2m (£5.9m), down $400,000 on last time. Losses per share almost halved to 59 cents.

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