Sunday, May 29, 2011

For Clifton Mining Company (CFTN) 50 is the MagiC NumbeR

Fifty as in $0.50 as in 50 cents in United States Fiat Currency is the magic number for Clifton Mining Company (symbol: CFTN).

Take a look at the chart and you can clearly see the impact of the number FIFTY on Clifton.

Clifton Mining Is In The Process of becoming a producing mining company, kind of, sort of.  Actually, there partner, Desert Hawk Gold Corp, who just filed their latest 10-Q is starting to production on the Clifton Mining Properties whereby Clifton is more of a Royalty Company as they will receive a Net Smelter Royalty for all production from the properties in the Joint Venture.

Clifton's Share Price recently challenged the 50 cent mark and was rejected, as it is now trading at $0.38.  If Clifton can get back above Fifty Cents, it should be a very good opportunity for entry on the long side of this stock.

Desert Hawk Gold Corp has made the Keiwit Propery the main priority for their company and Clifton Stands to profit mightily from this.  Desert Hawk Gold has spent millions of dollars getting the Clifton Properties and Cactus Mill ready to produce metals and has recently begun milling concentrates from the Yellow Hammer properties through the Cactus Mill. 

I own CFTN and look forward to it breaking above 50 cents as it will once again be above the MaGiC number and increase the chances of a sustained uptrend.  Got CFTN?