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The metals sector is now pretty hot, and investors are on the lookout for listed companies that they could track. One of those could be Clifton Mining Company (OTC:CFTN). As of today, June 27, 2024, gold prices showed strong momentum, and it is something that is expected to continue for the time being owing to widespread expectation about a rate cut later this year. That makes Clifton Mining a company that deserves to be on your watch list.
The company had been established in 1993 as a natural resources company involved in the production of lead, gold, and silver. The company produces the metals on its own land, spanning 14027 acres situated on the Nevada-Utah border. The company’s property is a mix of both lode and patented claims. Additionally, the company also boasts of a production facility with a capacity of 250 tons a day.
Another major reason why Clifton Mining Company could be the one to watch over the coming period is because of the way it has navigated a difficult period in the metals industry. The past two decades have seen a prolonged bear market in metals prices, and that led to the bankruptcy of many companies in the sector. Owing to a lack of investor interest and dwindling revenues, many companies shut shop.
However, Clifton Mining has been a notable exception to the trend. The company has not only managed to stay in business but also grew its asset base through acquisitions. It has also strengthened its balance sheet and now boasts a cash balance of $1.2 million. The company is well positioned to take advantage of any reversal in the bearish trend in the metals market.
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