Welcome to our dedicated page for Clifton Mining news (Ticker: CFTN), a resource for investors and traders seeking the latest updates and insights on Clifton Mining stock.
Clifton Mining Company (CFTN) is associated with the other precious metals and mining industry and trades on the OTC Markets under the symbol CFTN. The news flow around the company provides insight into its mineral properties in Utah’s historic Clifton Mining district, its investment in Desert Hawk Gold Corp., and its membership interest in American Silver, LLC.
News releases frequently cover operational updates from Desert Hawk Gold Corp., including gold and silver production from heap leach operations, sales volumes, and efforts to address ramp-up challenges. These updates often highlight how factors such as grades, recoveries, deposit geometry, and precious metals prices affect project performance. Investors following CFTN news can track how these operational details relate to Clifton’s reported investment in Desert Hawk.
Clifton Mining Company’s news also reports on distributions from American Silver, LLC, where Clifton is described as the largest single shareholder and a member. Announcements detail per-share distribution amounts, total cash distributed to Clifton, and commentary from American Biotech Labs, LLC, a wholly owned American Silver entity, on product sales trends and repeat ordering behavior.
Another recurring theme in CFTN news is corporate governance and shareholder activity. The company publishes annual meeting voting results, including director elections and auditor ratifications, and provides summaries of presentations given by directors, consultants, and executives of related entities. Separate shareholder communications have outlined efforts to call special meetings and propose new director slates, reflecting active engagement around board composition.
Clifton’s news releases also include updates on property acquisitions and geological assessments, such as the acquisition of additional leased acreage near Gold Hill, Utah, and summaries of consulting geologist reports identifying exploration targets and potential mineral deposits like wollastonite. Readers who follow CFTN news can use this page to monitor these operational, financial, and governance developments over time.
Clifton Mining Company, based in American Fork, Utah, announced production and sales reports for April and May 2021, revealing that Desert Hawk Gold Corp. sold 544 ounces of gold and 573 ounces of silver from its leach pad. The company has also introduced a tank leach operation to process high-grade ore, anticipating increased profitability. Additionally, Clifton has repurchased 2,859,366 shares and its subsidiary, American Biotech Labs, received three Best of State Awards in Utah for health/nutrition products, medical manufacturing, and devices. Clifton holds significant stakes in Desert Hawk and American Silver, LLC.
Clifton Mining Company announced its 2020 audited financial results, reporting a basic net income per share of $0.08 and a fully diluted net income per share of $0.07. The company repurchased over 3.3 million shares, enhancing its net cash position to $2,966,221. Additionally, Desert Hawk Gold Corp, in which Clifton owns 5.81 million shares, reported sales of 282 ounces of gold in February and 412 ounces in March, alongside silver sales of 302 ounces and 444 ounces respectively.
Clifton Mining Company has reported significant activity from its investment in Desert Hawk Gold Corp.. In January 2021, Desert Hawk sold 286 ounces of gold and 302 ounces of silver, while adding 234 ounces of gold to the leach pad from 19,797 tons of ore. Currently, there are 5,080 ounces of recoverable gold on the pad. Additionally, Clifton received a distribution of $0.06 per share from American Silver, LLC, totaling $91,500. American Silver holds 69 patents, with new developments in the Botulinum Toxin industry.
On February 2, 2021, Clifton Mining Company announced the acquisition of two new small mine permits for the Lost Mine Road and Cactus Mill areas. These permits enhance Clifton's strategic position within its silver/gold system, which includes over 4.8 million ounces of silver and 26,000 ounces of gold. With five permits now secured, Clifton is well-positioned for future mining operations. Additionally, Desert Hawk Gold Corp. reported mining activities that yielded 119 ounces of gold and 109 ounces of silver in December 2020, with significant recoverable resources remaining.
Clifton Mining Company reported for August 2020 that Desert Hawk Gold Corp. sold 354 ounces of gold and 283 ounces of silver from its leach pad. The company drilled 1,285 holes and crushed 52,033 tons of ore, adding 607 recoverable ounces of gold. Current estimates indicate 4,630 recoverable ounces of gold remain. Clifton holds 5.81 million shares of Desert Hawk. Investors should note the forward-looking statements may involve risks.
Clifton Mining Company has successfully repurchased 1,617,374 shares under its Share Repurchase Plan, which are now held as treasury stock. The management believes this reduction in the float will enhance shareholder value.
In production updates, Desert Hawk Gold Corp. reported selling 371 ounces of gold and 344 ounces of silver for July 2020. They also drilled 959 holes and estimate around 4,400 recoverable ounces of gold remaining. Clifton owns 5.81 million shares of Desert Hawk, with additional updates expected soon.