Clifton Star Res Inc CFMSF

CFO 1 sell & 1 reco

[Alexspushkin]

Toby Hansen (https://www.heavymetalinvestor.com/) has this to say about CFO:

"Stocks removed from suggested lists:

1. Clifton Star Resources (CFO.V, CFMSF): Clifton is leaving the Newsletter on a positive note for readers. They have good ground to explore and will probably get swallowed up by Osisko at a market premium someday. The stock has not reacted well to drill results. Part of the reason is the moon shot it had to C$8.00 early this year left millions of shares in the red at the end of the year. The lack of positive reaction to this year’s drill results by the market makes Clifton susceptible to decline further if the metals market corrects and is the reason for its removal. "

I would agree that the moon shot to $C8.00 has been a negative on CFO, and this could keep CFO in a trading range for a bit, but that in and of it self is not a reason that it will be "susceptible to decline further".  My guess is that at some time within the next year that overhang of shares will be gone and new highs will be seen.  The huge positive is that Osisko is continuing to fund exploration for its 50% earn in.  In Toby's news letter, he includes reader recommendations.  Interestingly, while he has it removed it from his recommendations, a reader provided a positive update:

"The Clifton Star update is that Osisko completed 122,000 meters of drilling in 2010. Assay highlights from 219 holes drilled on the Beattie property have been released by Osisko. At the AGM on December 13, 2010, Fred Archibald, Clifton Star’s VP Exploration and Director displayed a drill plan map and 13 section views, provided by Osisko of their 2010 Beattie drilling campaign. The graphics revealed at least a dozen, parallel, vertical and closely spaced high-grade zones of gold, extending beyond the depth of the drilling. NI 43-101 due Q1- 2011."

I like CFO at current prices and may increase my position.
- Alex