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Gold/Mining/Energy : Clifton Mining (CFB-Alberta)-Silver Play
CFTN 0.1000+11.1%Nov 14 9:30 AM EST
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To: virginijus poshkus who wrote (96)6/25/1997 11:11:00 PM
From: Claude Cormier   of 653
 
VArgas,

CLifton is expecting proposals from mining contractors this week. My guess is that they will start mining very soon and build a sufficient mill feed of a few months before they can start the 200/day mill. It sgould be running by the fall, hopefully by the AGM.

As for the second mill, it might not come before 1998. They need the $$ first and also a large enough mill feed to accomodate 750 tons per day. They don't have enough reserves as yet for a 1000/day operation.

The strategy is to bring the 200t/d mill in production. Process high grade ores and use the cash flows to develop reserves. The larget mill can be brought into production for less than $1M.

They are putting in a startegic drill hole next week which will go accross the mountain and try to intersect the veins at depth. If successful this will prove continuity of the veins and increase geological resource. This in turn *might* help the stock price.

CLifton would like to make a PP for exploration $$. But the currewnt price is too low.. Maybe later this summer or in the fall.

The more I did into Clifton story...the more I like its potential. I can't say it is my prefered silver play for now..but it is not far form the top. Next year may be another story.

CC
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