Topic: How To Invest

Hi Pat: I would appreciate your opinion on Clifton Star Resources. Thanks.

Article Excerpt

Clifton Star Resources, $5.16, symbol CFO on Toronto (Shares outstanding: 26.7 million; Market cap: $137.9 million), is focused on developing its Duparquet project in northwestern Quebec. This project includes the Beattie, Donchester and Duquesne mines, which produced a combined total of over 1.5 million ounces of gold from 1933 to 1991. The project also contains two other known gold deposits: Central Duparquet and Dumico. Over the past two years, Clifton Star has been exploring the Duparquet project, with the aim of outlining new gold resources. The company now believes it can mine 2.1 million ounces of gold at Duparquet by open-pit methods, and 1 million ounces by underground methods. Late last year, Clifton Star reached an agreement with Osisko Mining (Toronto symbol OSK). Under the deal, Osisko can earn a 50% interest in Duparquet by investing $70 million over a four-year period, including a firm commitment of $15 million in 2010. Osisko has a proven track record of successfully developing mines…