with permission...

Clifton Star Resources (TSXV: CFO). Shares: 25M issued, 38M fully diluted. Recent price: C$5.50

In terms of market-moving news and speculative catalysts, GOZ and GGN are at one end of the spectrum and CFO is at the other. Ten drilling rigs are presently in operation at the Quebec gold projects that form the CFO-Osisko joint venture. The plan is to drill about 120,000m prior to year-end, all of which will be funded by Osisko as part of its earn-in agreement. This will lead to a steady stream of drilling results over the months ahead.

There is, of course, no guarantee that the drilling results will be positive, but the stock's recent sharp correction has eliminated the 'froth' that was present earlier this year and reduced the risk.

In the 19th April Weekly Update we mentioned support at around C$5.00 as a likely target for a correction low and said that support at C$3.80-C$4.00 probably defined the maximum realistic downside potential. CFO subsequently spiked down to, and through, C$5.00, thus creating a good opportunity for new buying. It has since rebounded, but remains at a level where new buying could be appropriate.

For speculators who can handle the volatility in exploration-stage gold mining stocks and do not currently own any CFO shares, a reasonable accumulation plan would involve taking an initial position in the C$5.30-C$5.50 range

Not investment advice, just passing along the news and views, for discussion only DYODD