Clifton Mining (OTC: CFTN): Gold News Stock to Watch

Clifton Mining Company (OTC: CFTN) had been in the news cycle last month after it published its Fall 2023 Report on November 7. It could be a good idea for investors to consider taking a closer look at some of the highlights from the report.

The report started off by noting that Desert Hawk Gold Corp. had provided its mining and production report for the July to September 2023 period. During that period, Desert Hawk managed to produce 594 ounces of silver and 391 ounces of gold. The entirety of the production was made from the leach pad.

The report noted that the previous two decades had been difficult for the precious metals exploration industry. The long bear market in precious metal prices had led to bankruptcies among many exploration companies due to a lack of investors’ interest and a dearth of revenues.

The company cited some glaring examples of the trend. However, the report also noted that Clifton Mining Company had been one of the few exceptions in the industry and had managed to go against that particular trend. Instead of selling off its prospective properties, the company had in fact acquired new ones. Many companies had to raise cash by diluting their stock due to secondary offerings. However, Clifton Mining Company bought back in excess of 4 million shares.

One of the more important things that the company pointed out was that its balance sheet had also been strengthened during the period. The report noted that the company boasted a cash balance of $1.2 million to go along with $1 million worth of shares in another mining company and multimillion dollars’ worth of membership shares in a biotech firm. The report noted that Clifton Mining Company had built up strong surviving power and was in a good position to benefit from a bull market in the precious metals industry.