Alan,
Thanks for responding. Do you know if anyone heard what went on at the AGM on Monday? I bought Clifton because of the huge potential I saw for the company... potentially the largest silver mine in the U.S. at a cheap cost of production due to the presence of other minerals and the purity of the ore. The POS obviously has an effect on the stock price as does the lousy position of the whole mining sector right now, but they are still profitable at these silver prices... which is something a lot of others can't say. Clifton's biggest problem, as I see it, is lack of promotion and name recognition. My experience with mining stocks over the years has shown me that there are three major factors: (1) a good property (2) proving-up reserves and continuing to show a growth in proven reserves and (3) promoting (not "hyping") the company so people know the story. With Clifton, #1 is present based upon the original assays and studies. Unfortunately, (#2) Clifton has not (so far) kept their word about proving increased reserves (but, then again, the year isn't up), but they're not talking about it anymore. And #3... how many people even know Clifton exists... no less know the story behind it and the potential of their property?? There are plenty of small companies that have started turning around even in this market, but only because their story was told and people are willing to invest in what they perceive as long-term potential growth. Management has to start thinking about the market and shareholder value or they will end-up with no shareholders other than themselves. I have always had the greatest respect for Clifton's management, but I believe, IMHO, that they are not aware of the "promotion" that is necessary just to get the facts and story out. I think they call it "name recognition" <VBG>. Hopefully they will see the light quickly. Why didn't they come out with a PR immediately after the AGM?
Stay in touch and best wishes,
Marty |
