UK 04:15 Friday, 30 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
With Europe’s biggest coal-fired power station at Longannet in Fife set to close next year, diversified underground coal gasification (UCG) play Cluff Natural Resources (CLNR) sounds optimistic as it prepares the planning application for its flagship Kincardine UCG project in the Firth of Forth. Steered by veteran resources entrepreneur and former owner of the Spectator magazine Algy Cluff, the company, whose AIM-quoted shares have slipped from a 5p 12-month high to 3.88p, has submitted what finance director Graham Swindells calls ‘a solution to the Longannet closure’ to the Edinburgh government, which could be faced with a 40% cut in Scotland’s power supply as a result of the shut-down.
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Comments
FailedQS
I held CLNR when it first floated. I sold after about a year (I think) when it became clear to me that Mr Cluff’s aspirations were a good bit ahead of reality, and that he would have to raise bucket loads of cash at some point (that moment has still to come).
Patience will be required, I agree – but any fundraising will be at levels lower than the prevailing shareprice at that time.
And the involvement of Halliburton is a double edged sword – lots of cash, a respected company, but they will have no respect for the interests of long term shareholders if they get the chance to fund anything. They will get the best deal they can….. I used to work for a Halliburton company – I know their methods only too well, they will trample over the existing shareholders if they need to.
FQS