Clifton Mining Company (CFTN)

[foxwood90]

Thanks for finding the 1o-Q. The 6% you mention in Note 6 of the 10-Q is for base metals, which gold is excluded from. The royalty on gold and silver is based on a sliding scale of between 2% and 15% based on the price of gold and silver, as applicable. Given the soaring price of both, I suspect the royalty is at the high end of the given range. However, as shown in Note 6, Clifton has only received $80,000 from the sales of concentrates for the first six months of 2011. Not exactly anything to write home about.