Thursday, February 21, 2013

Clifton Mining Company & Desert Hawk Gold Corp - Going For The Gold & Silver

Clifton Mining Company has spent years and years accumulating all of the small mining claims in and around Gold Hill inTooele County Utah in what is now being termed the Kiewit Mining Project.

In fact, according to Rick Havenstrite who is heading up the operations for Desert Hawk Gold Corp., they have invested more than $12 million dollars in this project including the permitting process and refurbishing the mill.

The very exciting part is that this project is just about to start actual production. It has been a long time coming. I am very excited about it as a shareholder of Clifton Mining Company (stock symbol: CFTN). Clifton has survived and progressed this project for years by prudently structuring joint venture agreements with partners that have brought all of the necessary funding and operational capabilities to the party.

Clifton has been able to watch as their properties have continued to grow in value and move toward profitable cash flow without having to spend a dime. Once this project begins production, Clifton will start receiving a steady cash flow from royalties based on the amount of material mined.

If there are no adverse actions taken, this project will gain final approval on March 13th and production will begin in earnest.  Here is a great article for those who want to know more about this project.