Time to speak up about management and stock price! If this is not the time to say something, when is? The stock price dropped from .78 to as low as .55 today. This is not only because of the weak Venture market. This is because 2,760,000 shares of flow-through private placement stock became free trading on 14 March. In case you have forgotten, here is the private placement news https://www.cfo-star.com/wp/clifton-star-resources-announces-the-closing-of-the-brokered-flow-through-private-placement/
CFO has dropped 25% in just 3 weeks since the placement stock became free trading on 14 March.
Flow-through investors are notoriously disloyal. They are in it for tax benefits and nothing more. Clifton Star president Michel Bouchard should have known this when he accepted almost 3 million shares worth of flow-through money. It was poor judgement to do a placement on a flow-through basis and this decision was like an act of sabotage against the stock. Sorry to say.
Now let's talk about Clifton Star's value compared to other companies. In the videos on the Clifton Star website, Mr. Bouchard likes to say the company is undervalued compared to its peers. Right now the market cap is just $22 million for a company with 3.9 million ounces of 43-101 gold resources in Quebec.
I figure the stock price should be north of $2.00, even in this market, based on nearly 4 million ounces in the ground and just 38 million shares outstanding. Mr. Bouchard never mentions why Clifton's valuation is so far below its peers. Could it be poor management including the horrible decision to do a flow-through placement? I tried to talk to Mr. Bouchard in recent months but he never returned my calls. Recently I called the company again and found out Mr. Bouchard is on a long vacation. The stock price is plunging like the Titanic and he takes off on an aeroplane and goes on a long vacation. I would like to start some dialogue here and suss out some answers. Does Mr. Bouchard return your calls and does he act like he cares about the shareholders at all?
jolgas2