Comstock Mining Inc. (NYSE Mkt: LODE) is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the historic Comstock and Silver City mining districts (collectively, the “Comstock District”). The Comstock District is located within the western portion of the Basin and Range Province of Nevada, between Reno and Carson City. The Company began acquiring properties and developing projects in the Comstock District in 2003. Since then, the Company has consolidated a substantial portion of the Comstock District, secured permits, built and infrastructure and brought the exploration project into production. SNNLive spoke with Corrado De Gasperis, President and CEO of Comstock Mining, Inc. at Singular Research's 9th Annual "Best of the Uncovereds" Conference 2014 in Bel Air, CA.
Mr. Gasperis begins by covering the mining districts that Comstock controls and some history behind the area, “We have consolidated the largest, most prolific mining districts literally having control of the gold and silver district where 33 bonanzas and over 8 million ounces of gold and almost 200 million ounces of silver were mined in the late 1800s with picks and shovels. What’s remarkable is that 2-mile strike has really been defined to be closer to 6-miles and with very little drilling and exploration we’ve already validated over 3 million gold-equivalent ounces and we have 10 ounces of silver for every ounce of gold.”
Nevada has been known for its large quantities of precious metals, but he explains that the thing that makes Comstock unique is that, “We’re a high-grade epithermal district and it’s the entirety of the Comstock Lode district, it’s the entirety of property positions all under one company.”
Mr. Gasperis explains how even with the low gold prices, and the soft silver prices, Comstock still can receives profitable returns. “So far, the economics of our mine is driving for a cash cost to produce of under $750 an ounce, if we can sustain that great level of improvement and we believe it will be better, then we will be ok at $1200 gold. The silver is fascinating because it’s a byproduct for us, we get 10 ounces of silver for every ounce of gold and we’re getting an unusual amount of demand to print pure Comstock silver coins and medallions and bars, so I have a feeling we’ll be getting a lot more value for our silver than spot price.” For more information, check out their website at www.comstockmining.com
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