Clifford and others on this thread:
Clifford, I too expect that we are attaining a bottom in the metals,
as our portfolios could certainly use the help.
There is a lot going on with Clifton, and I would like to post on
these developments.
An exciting find is that the back of the mountain hosts ore
that is much richer, even, than that found in the front.
Consequently, part of the mining plan is to access this ore, and
since it is high-grade, it will be lower cost, and easier to process.
To this end, a permit has been granted to construct a road leading
to the back of the mountain, and this may be finished within the next
2-3 weeks. This, of course, will allow access with heavy machinery.
The ore processing facilites are well underway, and management
expects to be in production in the near future. They are very
cautious, however, and their goal is to have a smooth transition from
exploration, feasibility, to production. They would very much like to
avoid a start/stop situation, which has happened with other companies
that have been in a rush to start production, under sub-optimal
conditions.
A new release is expected soon, detailing the new reserve
calculations, based on an analysis by Behre-Dolbear, which will
presumably result in a significant increase in the official reserve
calculations.
A PR firm has been hired, and this will help with the promotion
of the company. Also, I am told that there will also be an article
in one of the the May 97 issues, featuring Clifton.
On the finance side, the company is in the proces of securing
additional financing, in the form of convertible debentures. More
news will be forthcomin when that is in place. They have currently
sufficient funds to finish the current projects.
Finally, there will be a shareholder's meeting on June 23, which
may include a visit to the mountain and mining facilities. I hope
to be able to take advantage of this opportunity to visit the site.
I appreciate the input from everyone on this thread.
Regards
Dan |
