OTCPK:CFMSF - Post by User
Post by
tooclassyon Dec 23, 2010 1:24pm
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Post# 17889075
LOM issues update with $11 target
LOM issues update with $11 target |
| Clifton Star Resources Inc. (CFO-TSXV)1 | Speculative BUY – Target: $11.00 | | | Dec 21/10 closing price: $4.99 | | Michael Fowler, M.Sc MBA | 416-964-4400 | | Engages Metallurgy Consultant For Its Duparquet Projects: The company has engaged Dr. David Dreisinger as a consulting metallurgist for the company’s projects. Dr. Dreisinger is a Professor at the University of British Columbia. The metallurgy of the mineralization at Duparquet is still an open question. The mere fact that the old operators used a roaster to oxidize the ore suggests that some of it may be refractory. Some initial tests by Clifton Star have suggested that perhaps only a portion of the mineralization is refractory. In addition there is the arsenic content of the ore to be considered. The old operators captured the arsenic, which is now situated in an environmentally contained site. Obviously a lot more test work is needed on the mineralization. Whilst these factors are not project killers, they would add to the capital and operating costs of the project. We are basing our target price on a total of 9 million potential resource ounces located on the Duparquet properties. So far the JV has outlined 3.2 million ounces of resource in NI 43-101 reports, but there has been 148,000 metres of drilling since then. We maintain a Speculative Buy on the stock with an $11.00 per share target. | |