Clifton Mining Company (OTC:CFTN) Stock Witnesses Unusual Volume

Investors are almost always drawn to stocks that record strong trading volumes, and on July 16, Clifton Mining Company (OTC:CFTN) emerged as a surprising volume leader. However, the reason behind the unusually high trading volume may not be as surprising when one factors in the fact that there is an expectation of a rate cut.

If a rate cut does come to pass, then gold prices would gain momentum, and that can only be a good thing for a gold producer like Clifton Mining. The company has also managed to make significant progress in recent times, and one of the more notable signs of that has been the success of its venture with Desert Hawk Gold Corp.

On November 7, 2023, Clifton Mining announced that it had received the production report for the months between July and September 2023. The report revealed that Desert Hawk had produced 391 ounces of gold along with 594 ounces of silver, and the entirety of the production had been sourced from the leach pad. While the venture with Desert Hawk continued to be a success, there is a larger story about Clifton Mining that ought to be kept in mind.

The metals industry has been struggling for the past two decades owing to a prolonged bear market. As a consequence, many firms have gone bankrupt due to depressed revenues and little investor interest. Clifton Mining has however managed to swim against the tide and has, in fact, added assets. The company has not diluted its shares either and has in fact bought 4 million shares so far.

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