Clifton Mining Company (OTC:CFTN) Stock Picks up Momentum: Here is Why

As uncertainties have been rising in the capital markets, more and more investors are moving their money to gold. Hence, there is considerable attention given to the gold industry. There are a large number of companies that one may look into, and one of those is Clifton Mining Company (OTC:CFTN).

In recent days, the company’s stock has picked up considerable momentum and could be one to watch closely. While there has been no news about the company this week so far, it may be a good time to consider taking a look into an announcement from Clifton Mining on December 13.

The company announced that its shareholders had given their approval for the election of five nominees to the board of directors. Each nominee managed to get affirmative votes from around 60% or more of the shares that had been voted, except for broker non-votes and abstentions. The five directors who had been elected included Clifford L. Reid, Stanley J. Cutler, Scott S. Moeller, Kenneth S. Friedman, and Jerry L. Wilhelm. It was a significant development for the company and one that could have a major impact on its future in the near term.

However, that was not all. Clifton Mining also announced that the shareholders had also given the green signal for the appointment of MAC Accounting Group LLP in the capacity of the company’s independent auditors. The motion garnered more than 60% of the votes. The motion pertaining to the appointment of the independent auditors had been recommended by the Board of Directors of Clifton Mining.