Clifton Mining Gains Attention Amid Elevated Precious-Metals Prices
Clifton Mining Company (OTC: CFTN) is gaining attention from investors due to its substantial ownership interest in Desert Hawk Gold Corp. and the elevated gold and silver prices that have increased focus on smaller precious-metals companies with production exposure and established mineral assets.
The company's significant stake in Desert Hawk Gold Corp., which reported selling 427 ounces of gold and 935 ounces of silver from June through August, has drawn interest among investors. At the reported three-month average prices of $4,276 per ounce for gold and $63.19 per ounce for silver, those ounces represent approximately $7.27 million in gross metal value before recovery.
More significantly, Desert Hawk estimated around 1,701 recoverable ounces of gold remained on its leach pad at the end of August. This represents a substantial amount of recoverable resources that could potentially increase the company's revenue and profit if successfully recovered.