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Bullboard - Stock Discussion Forum Clifton Star Res Inc CFMSF

OTCPK:CFMSF - Post Discussion

Clifton Star Res Inc > LOM comments on sale of Duquesne property
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Post by tooclassy on Sep 21, 2012 1:07pm

LOM comments on sale of Duquesne property

LOM Research
Clifton Star Agrees To Sell Its Duquesne Property To Better Focus Its Exploration Efforts - Positive

Friday, September 21, 2012
Research Spotlight


Clifton Star Resources Inc. (CFO-TSXV) 1
Speculative Buy.Target:$5.96


September/20 closing price: $1.15

Michael Fowler, M.Sc MBA

416-964-4440

Clifton Star Agrees To Sell Its Duquesne Property To Better Focus Its Exploration Efforts - Positive: The company has agreed to sell its Duquesne property claims to Xmet Inc (a small junior exploration company, XME-TSXV-not covered) in return for 19.9% of Xmet. These claims are located to the east of Clifton's Duparquet Property, which is the main asset of the company. Clifton's Duquesne property hosts 199,000 ounces of indicated and 280,000 ounces in the inferred category. Independently Xmet is trying to close the purchase of an adjacent property, which will consolidate the Duquesne district, with Clifton being a large minority partner. All told Xmet will have control over 355,000 ounces in the indicated and 1,233,000 ounces in the inferred category. Xmet is a good small exploration company, with good technical management. The sale is contingent on Xmet purchasing a 75% interest in the Duquesne-Ottoman project.


We believe that this is a good deal for the company as it allows it to better focus its attention on Duparquet, which is almost 100% of the company's value. We have a speculative buy on the stock with a $5.96 target.


1. Loewen, Ondaatje, McCutcheon Limited (LOM)'s analyst has visited the material operations of the company to the extent of viewing the corporate headquarters and/or major production facilities along with meeting certain key management.

Comment by Alexspushkin on Sep 21, 2012 8:00pm
Thanks for keeping us updated TC!