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Gold/Mining/Energy : Clifton Mining (CFB-Alberta)-Silver Play -- Ignore unavailable to you. Want to Upgrade?

To: Alan Whirlwind who wrote (416)	9/13/1998 11:24:00 AM
From: andrew r harwood	Read Replies (1) \| Respond to of 653

well they had better start generating some cash flow soon ,looking at their financials to june 30th 1998 they are in pretty desparate shape ,there was an increase in shares outstanding of 4 million in 6 months and there has been a massive increase in the number of shares outstanding over the last couple of years .there assets are worth less than 10 cents a share and they continue to burn cash ,i am not sure why the dilution has been so great .with the low price of the stock right now they will at some point in time reach a point where they wont be able to generate much cash from selling more shares .they now have around 22 million shares out and im not sure how many they can issue before they have to stop and do the old reverse stock split. the whole natural resource sector on the vse and ase is absolutely devastated, it would be interesting to know the total value of all the stocks on the vse 2 years ago and now ,i would guess the value of the vse is probably about 1%of what it was then .arh