“Filings
have been made with government agencies to construct a large heap
leach pad
near
the Kiewit properties. This pad is being engineered to accommodate
not only the
gold
resources from the Kiewit properties, but also silver and gold
material from
surrounding
mine sites. It is anticipated that the government approval will be
granted
later
this year and that construction will begin thereafter. We expect this
to be the largest
and
most profitable project for the Company.”
I
have spoken with a key executive involved with the permitting process
and it appears from our conversations that everything is full go with
regards to the Kiewit permitting process. In fact, it should be
happening any day now.
Previously,
Clifton Mining Company's (Clifton) joint venture partner Desert Hawk
Gold Corp.
(Desert
Hawk), completed the overhaul and renovation of the Gold Hill mill in
September
of 2010. Preliminary mill operations started in October, with fine
tuning of
the
mill over the past several months. New crushing and grinding circuits
have been put
in
place as well as additional banks of float cells and new gravity
separation tables,
upgrading
capacity and recoveries. A new automated crusher has been placed at
the mine
site
so that ore can be crushed before being shipped to the mill for
processing.
Clifton
Mining company is structured like a royalty mining company. Clifton
has a partner in the project, Desert Hawk Mining company, that is in
charge of all funding, permitting and production. Clifton Mining
Company gets to sit back as its property is developed and brought to
production without risking any money of its own. Clifton has kept its
outstanding common stock issued to a very low level and has not
diluted it like so many other mining companies have done. In 2003,
Clifton had 50 million shares outstanding. As of December of 2011,
there are only 56 million shares outstanding.
Some
people think that the Clifton Properties may contain up to 1 billion
ounces of silver. Clifton Mining however is not 43-101 compliant and
the estimates are not confirmed.
It
took Clifton management 30 years to secure up to 100 patented mining
claims in a high grade historic mining area to create one contiguous
block of claims. The claims were owned by as many as 100 surviving
descendants of the original miners.
With
silver and gold prices rising in the face of massive currency
debasement around the world, Clifton Mining is well positioned to
capitalize on the royalties that will be produced from its
partnership with Desert Hawk Gold. Clifton will realize a 5% net
smelter royalty on all gold production from the Kiewit zone.
Recently,
Shoshone Gold & Silver Mining Company attempted to do a joint
venture with Desert Hawk Gold and here is what they had to say:
Shoshone stated: "We believe that this property has the
potential for very significant early production and cash flow from
the permitted mill, as well as from the gold heap leach.
Additionally, multiple exploration opportunities for expanding the
gold, silver, copper and other mineral resources are abundant. In sum
it would be very difficult to find a comparable opportunity in the
western United States. Mining properties of this quality and grade
were discovered and mined long ago."
Clifton
Mining company is trading at an unbelievably low price of $0.25 per
share. This is lower than it was trading when the price of silver
was $8.00 per ounce. Silver is now trading at $35.00 per ounce. At
this price, I believe CFTN shares are a literal steal.
***
Disclaimer: Clifton Mining Company is a penny stock. Penny stocks are
risky investments but can have absolutely huge payoffs. I own shares
of Clifton Mining. If CFTN shares go up in price, I will benefit from
that. Do your own due diligence before buying this stock or any other
investment, after all, it is your own money. I am not an investment
advisor. ****
