Clifton Mining is finally going to start reaping the rewards of its long and steady accumulation and strategic partnerships for many years.
As reported in the Wall Street Journal here
You can see that Clifton Mining is estimating that production from this project will be 20,000 ounces of gold annually with Clifton taking home a 5% net smelter royalty.
This sets Clifton up in my mind as a Gold and precious metals royalty company.
With gold at $1350 per ounce, this would equate to $1,350,000 annual royalty to Clifton on $27,000,000 in revenue.
Clifton Mining currently shows outstanding shares of 57 million. (source yahoo).
This equates to a per share earnings of 2.4 cents per share on this project alone.
Clifton mining has other resources and also owns a large share of American Biotech Laboratories.
Clifton Trades under the symbol CFTN.
Clifton Mining Company Web Site