Comstock Mining (NYSE MKT: LODE) is a Nevada-based gold and
silver mining company with extensive, contiguous property in the historic
Comstock and Silver City mining districts. Additionally, the company is an
emerging leader in sustainable, responsible mining practices – including
concurrent and accelerated reclamations, soil sampling, voluntary air
monitoring, cultural asset protection, and historical restorations. In 2012,
LODE completed infrastructure construction and initiated production at its
Comstock property, leveraging the largest known repository of geological data
on the region in order to achieve maximized stockholder value.
In recent months, LODE has continued to make considerable
production progress in the region, promoting strong financial results. Despite
gold prices falling nearly 18 percent over the past year, the company achieved
mining revenue of $5.4 million in the second quarter of 2015, which was just an
11 percent year-over-year decrease. In order to offset the decline in revenue,
LODE successfully decreased the costs associated with mining operations by 42
percent from the previous year, helping the company achieve an impressive gross
margin of more than 41 percent for the period while demonstrating the immense
value of its experienced management team.
Moving forward, LODE is turning its attention toward its
Lucerne underground drilling and development project. The company recently
completed extensive geological development and modeling through the use of
previously collected drilling data and historic underground mining maps,
allowing it to locate a definitive underground development target that presents
significant opportunity for immediate exploration. LODE plans to partner with
American Mine and Tunneling LLC and American Drilling Company, Inc. to commence
development of underground access to the site in the coming weeks.
“Our goals for this year are minimizing operating costs and
expanding the Lucerne exploration and development activities,” Corrado De
Gasperis, chief executive officer of LODE, stated in a news release. “We expect
to be cash positive from operations for the full year 2015, while transitioning
our mining activities during the third quarter and initiating underground
development.”
For prospective shareholders, LODE’s recent financial growth
– despite slumping commodity prices – demonstrates the tremendous potential for
the company when gold prices begin to rebound. Look for LODE to make strong
progress toward the development of its Lucerne project in the months to come,
providing a platform for continued market growth for the foreseeable future.
For more information, visit www.comstockmining.com
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