Clifton Mining Company (CFTN) recently announced that it had signed a 20 year agreement with Desert Hawk Gold Corp., led by an experienced team, to explore, evaluate, develop, and mine mineral resources from the company’s properties.
According the the release, the agreement provides a significant step toward commercial production for mining properties owned by Clifton Mining Company and its subsidiary, Woodman Mining Company.
Clifton has spent 15 years and more than $10 million assembling a portfolio of properties in the historic Clifton Mining district.
Clifton has already filed environmental impact studies for its mining properties with all relevant state and federal agencies, and is in the process of obtaining all necessary permits and approvals to engage in comprehensive mining operations. Desert Hawk anticipates that the venture will be in commercial production by Q3 2010.
As a current shareholder of Clifton Mining Corporation (CFTN), I am looking forward to the day when they start producing a steady stream of income from the mineral production on their many properties.
As a penny stock, this could be a major boon for the stock price of CFTN which trades on the pink sheets.
Investing in penny stocks is inherently risky as is investing in any stock for that matter.
Visit Clifton Mining Website for more information on this promising company.
I have not been paid to write this review. I am a shareholder of Clifton Mining.