Pursuant to the Company's Share Repurchase Plan, the Company has been able to buy back 1,617,374 shares of common stock. All these shares are currently being held as treasury stock. Said management, "we believe that by reducing the float, that this should have a positive impact for shareholder value." Exploration, Development, and Production - Clifton Mining Company has received the report that for July 2020, Desert Hawk [...]
Clifton Mining Company has received the report that for June 2020, Desert Hawk Gold Corp. drilled 1,397 development holes and crushed 38,861 tons of ore averaging 0.0105 ounces per ton of recoverable gold. Desert Hawk placed on the leach pad 527 recoverable ounces, and current estimates are that the pad currently contains 4,160 ounces of recoverable gold. Desert Hawk plans to increase its production in the months ahead [...]
Clifton Mining Company has received the report that for May 2020, Desert Hawk drilled a record number of exploration and development holes. It crushed a near-record 60,000 tons of ore, and it placed on the leach pad a near-record 1,213 ounces of gold with an estimated 813 ounces recoverable. There are now more than 4,000 estimated recoverable ounces of gold on the pad. Desert Hawk also sold 242 ounces of gold during the [...]
Clifton Mining Company has released its audited consolidated financial statements for the years ended December 31, 2019 and 2018. The consolidated statements have been posted on the Company's website at https://www.cliftonmining.com/file/0ac3d278-2e42-4ce7-85c8-d446c335099e and on the OTC informational portal. The 2019 and 2018 audited results show the Company had net income of $5,040,098 and 318,161, respectively. Basic [...]
Clifton Mining Company has received the report that in February Desert Hawk Gold Corp.'s gold sales on the Kiewit heap leach project were just over $500,000. With gold prices growing stronger, it's anticipated that Desert Hawk will see significant growth this year in its production revenues at the Kiewit project. Please see the new videos on Clifton's website or on YouTube at [...]
Clifton Mining Company – Share Repurchase Plan. Clifton hereby announces that its Board of Directors has authorized a stock repurchase program, under which Clifton may repurchase up to $800,000 of its outstanding common stock. Under this stock repurchase program, Clifton may repurchase shares in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of [...]
Clifton Mining Company held its annual shareholder meeting on Friday, October 25, 2019, at 12:30 p.m. in the Alpine Arts Center, Alpine, Utah. A quorum was present and all six directors were re-elected for their designated terms and the appointed auditors were also approved. Ken Friedman addressed the question that had been raised by a number of shareholders pursuant to the management's decision to exchanged its five [...]
Clifton Mining Company - Leaching Begins Again - Desert Hawk Gold Corp. started their leaching circuit again this past week. They are currently mining ore seven days a week from the Kiewit zone. Their target goal is 5,000 tons each day and they expect to continue mining and leaching through the winter. In the last few months, they have mined about 200,000 tons and have placed about 50,000 tons of new crushed ore on [...]
Clifton management is pleased to announce the acquisition of 44 additional patent mining claims. This purchase more than doubles the current number of 38 patented mining claims owned by the Company to a new total of 82 patented mining claims. These new patented mining claims add an additional 731 acres, taking the total number of acres owned or controlled by the Company to more than 14,000 acres. These new claims are [...]
Clifton Mining Company has finalized a second amended and restated agreement with Desert Hawk Gold Corp. This Amended Agreement includes several changes with the most significant being that Desert Hawk purchase from Clifton its five percent net smelter return royalty for $3 million in cash and 5.5 million shares of Desert Hawk Gold Corp. stock, with a current estimated value of $0.40 per share, making the estimated value [...]
American Silver, LLC, parent company to American Biotech Labs, LLC "ABL" has declared a $0.33 per share distribution, providing approximately $500,000 to Clifton Mining Company, its largest single shareholder. Together with the distribution of $0.10 issued earlier this year, Clifton has received distributions totaling approximately $655,000 for 2018. This is the largest total annual amount distributed by American Silver [...]
As previously reported, Desert Hawk Gold Corp. has continued processing on the Kiewit heap leach project and has continued to pay royalties to Clifton. Desert Hawk is also working on some options to significantly ramp up their production anticipated in the first quarter of 2019. On the biotech side, American Biotech Labs is having an excellent year, thanks to several new large contracts. Revenues surpassed the total [...]
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