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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 11:16:00 PM
From: George Alazar   of 653
 
Vargas, I talked to Bill Moeller today. He said they had just finished a road to the back of the mountain where they will start tunneling again. They are also working to provide a better road to the main highway. They found out that the mountain has 'twisted' or torqued and the veins are closer together on the back side. The new tunnel will speed up proving reserves as they'll encounter the large veins sooner. They are now seeking bids for the job even though they do have a good mining contractor now. I guess they want to keep things competitive and cost effective. Bill said they are ready to start up the mill but first they need to stockpile a few weeks worth of ore in case of bad weather that might make the roads unpassable. Once they start up they don't want to have to shut down the floatation tanks, as that could be costly and time consuming. The shareholder meeting for ACMC is likely set for Aug. 18 but he was less sure about CFB, although he would like to have them together. He should know about CFB in about a week. They are also planning to drill straight across the mountain inorder to prove up reserves and locate any new veins. If that goes well they may use that drill to probe to depth at a 45 degree angle hoping to locate bedrock and a possible source or feeder systems for the veins. All in all Bill was upbeat about their progress. Sounded good to me too.
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