AMERICAN FORK - Clifton Mining Company (OTCBB: CFTN) (Clifton) - "December 2024 Update Report"

Rhea-AI Summary

Clifton Mining Company (CFTN) has reported several significant developments in its December 2024 update. Desert Hawk Gold Corp. has successfully emerged from chapter 11 bankruptcy with case dismissal. The company has expanded its land holdings by acquiring an additional 640 acres near Gold Hill, Utah, for an initial lease amount under $4,000, bringing total owned and leased property to 14,667 acres. Additionally, American Silver, has declared a distribution of $0.13 per share, resulting in a payment of $239,210.92 to Clifton Mining Company as its largest shareholder.

Positive

• Received $239,210.92 distribution from American Silver
• Expanded land holdings by 640 acres, reaching 14,667 total acres
• Desert Hawk Gold Corp. emerged from bankruptcy

Negative

• None.

AMERICAN FORK, Utah, Dec. 12, 2024 /PRNewswire/ - Desert Hawk Gold Corp. – Clifton Mining has received notice that Desert Hawk Gold Corp. is no longer in chapter 11 bankruptcy, their case has been dismissed from the bankruptcy court. 

Property Lease Acquisition – Management has been monitoring Trust Lands leasing opportunities and recently the Company successfully bid for and acquired an additional 640 acres of strategically located property close to the Town of Gold Hill, Utah, in the historic Clifton Mining district.  The initial lease amount is just under $4,000, with annual lease payments.  This acquisition strengthens the Company's land position to 14,667 acres of owned and leased property.

Notice of December 2024 Distribution – American Silver, LLC declared a $0.13 per share distribution, which totaled $239,210.92 being distributed to Clifton Mining Company, its largest single shareholder.  For more information about the American Silver, LLC companies and products, please see the following websites:  https://silverbiotics.com/, www.ablmedical.com, and https://ablmfg.com/.

Clifton trades on the OTC Markets under the symbol: "CFTN".

Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.

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SOURCE Clifton Mining Company

FAQ

How much was Clifton Mining's (CFTN) distribution from American Silver in December 2024?

Clifton Mining received a distribution of $239,210.92 from American Silver , calculated at $0.13 per share.

How many acres did CFTN acquire in their recent Trust Lands lease acquisition?

Clifton Mining acquired 640 acres of strategically located property near Gold Hill, Utah, for an initial lease amount under $4,000.

What is Clifton Mining's (CFTN) total land holdings after the December 2024 acquisition?

After the recent acquisition, Clifton Mining's total land holdings reached 14,667 acres of owned and leased property.

What happened to Desert Hawk Gold Corp.'s bankruptcy case in relation to CFTN?

Desert Hawk Gold Corp.'s chapter 11 bankruptcy case was dismissed from the bankruptcy court, indicating their emergence from bankruptcy.