Clifton Mining (OTCMKTS:CFTN) Stock Extends Rally: Jumps 15% In a Week

Shares of Clifton Mining (OTCMKTS:CFTN) continued to move up higher on Tuesday and now up 15% in the past week.

Market Reaction

On Tuesday, CFTN stock moved up 10.93% to $0.20 with more than 37.90k shares, compared to its average volume of 31K shares. The stock has moved within a range of $0.1900 – 0.2050 after opening trade at $0.1950.

Earnings Recap

Clifton Mining (OTCMKTS:CFTN) had its Annual General Meeting on October 22, 2021 in which Scott Moeller announced quorum of votes receiving and gave results, supporting re-election of proposed directors and appointment of auditing firm.

Ken Friedman discussed background as well as strategic positioning of the firm. It noted that though it has been a hard time for precious metals industry and has gathered over $2 million in cash and has over 5 million shares of Desert Hawk Gold Corp.

The firm also repurchased over 3.5 million of shares. Keith Moeller made detailed presentation on Desert Hawk, including identification of new deposit at Rainbow Hill, estimating 10 million tonnes.

The company witnessed production and sales report from Desert Hawk Gold Corp for month of September 2021, in which it sold 178 ounces of gold.

Its new website is now active and has links to a number of its independent geological reports. The firm has gotamended and updated report from Desert Hawk Gold Corp.

Desert Hawk has applied for project expansion permit and awaits for approval of the same. They have been investing in extra drilling as well as exploration work for augmenting gold and reserves.

Clifton also invested in exploration work on Cane Springs historic gold mine.

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