HUGE BONANAZA STRIKE 3.56oz per ton http://www.comstockmining.com/news/press-releases/155-tuesday-may-24-2011 NEWS MARCH 28th:
|COMSTOCK MINING SHAREHOLDERS MEETING JUNE 22ND 2011 5 part video: |
Comstock Mining Announces Listing on NYSE Amex
Jun 8, 2011 16:10:00 (ET)
VIRGINIA CITY, Nev., June 8, 2011 /PRNewswire via COMTEX/ -- Comstock Mining Inc. (the "Company") announced today that its common stock has been approved for listing on the NYSE Amex LLC ("NYSE Amex"). The Company's common stock is expected to begin trading on NYSE Amex under the symbol "LODE" on Friday, June 10, 2011.
"We welcome Comstock Mining, Inc. to the NYSE Euronext family of listed companies and to NYSE Amex," said Scott Cutler, Executive Vice President, NYSE Euronext. "Comstock and its shareholders will benefit from superior market quality and technology, a broad array of issuer and investor services, and a global brand association. We look forward to building a strong and lasting partnership with the Company and its shareholders."
The Company received its initial clearance letter on May 26, 2011, completed certain administrative tasks, including interviewing and selecting J. Streicher & Co., LLC as its Designated Market Maker, and final acceptance for listing on June 8.
"Our clearance and acceptance onto the NYSE Amex marks a key objective of our corporate strategic plan. We believe this listing will raise our investment profile among a broader range of investors, improve our stock liquidity and increase our visibility with current and potential investors. We are extremely pleased to be a part of the NYSE Amex and affirm our commitment towards the highest level of corporate governance for our shareholders," said Corrado De Gasperis, the Company's President and Chief Executive Officer.
Comstock Mining Inc. ("Comstock Mining" or "the Company") (OTC Bulletin Board: LODE) announced continued, significant mineralization results from eight of the remaining nine reverse circulation (RC) holes drilled during the first phase of drilling at its Dayton Resource Area (the "Dayton"). When combined with the prior thirty-three RC holes from this program, fully forty-one of forty-two holes have identified continued, significant mineralization throughout the Dayton drill fences. This has created a rapidly expanding picture of the Dayton's mineralized envelope.
Please access the map of our drill fences and holes via following hyperlink:
The map identifies the originally designed North, Middle and South Fences. A fence is a row of holes, these spaced approximately 750 feet apart. An additional middle-north intermediate fence, a south-middle intermediate fence and south-south intermediate fence completed this phase of the program. Comstock Mining's property line has been superimposed to delineate the scope of exploration.
Results announced previously by the Company included the highest-grade interval encountered to-date at the Dayton: 10 feet (3.05 m) grading 1.121 ounces per ton of gold (38.39 g/tonne) and 2.279 ounces per ton of silver (78.05 g/tonne), contained in an interval of 135 feet (41.15 m) grading 0.218 ounces per ton of gold (7.47 g/tonne) and 0.685 ounces per ton of silver (23.46 g/tonne). Many of the holes also encountered the deeper, silver-only mineralization that was first encountered in D10-01, the first hole in Phase I.
New Results (Holes D11-30, 32 - 39)
Significant mineralization (that is, gold and silver grades greater than 0.010 ounces per ton and 0.100 ounces per ton, respectively and a length of at least ten feet) occurred in eight of the nine newly reported holes. Hole D11-33 included a 145-foot (44.20 m) interval averaging 0.056 oz/ton (1.92 g/tonne) gold and 0.352 oz per ton (12.05 g/tonne) of silver including a 15 foot (4.57 m) interval averaging 0.185 oz per ton (6.33 g/tonne) gold and 0.712 oz per ton (24.38 g/tonne) silver. Hole D11-30 was the only hole that did not contain significant mineralization and was located at the far-east end of the middle fence near the road and the property border. This result was anticipated and further confirmed the geologic model.
*****LODE CONFERENCE CALL MARCH 31st*****
Comstock Mining to Host Business Update Call and Report Year Ended 2010 Results
Virginia City, NV (March 25, 2011) -- Comstock Mining Inc. ("Comstock Mining" or "the Company") (OTCBB: LODE) will host conference call on March 31, 2011 at 11:00 a.m. Pacific Time/2:00 p.m. Eastern Time to report fourth quarter and year ended 2010 results.
The live call will include a moderated Q&A, after the CEO delivery. The dial-in telephone numbers for the live audio are as follows:
North America: (877) 640-5745 PIN 8375460
Others: (416) 850-2060 PIN 8375460
The audio playback will be available one day following the call, and for 30 days thereafter, at www.comstockmining.com, in the Investors section.
MARCH 20TH ON NEVADA NEWS:
News MARCH 7TH:
Dayton Drilling Finds Highest Grade Mineralization To Date
Results Include One Ounce-Plus Intercept in Hole D11-21
10 feet (3.05 m) grading 1.121 ounces per ton (38.39 g/tonne) gold and 2.279 ounces per ton (78.05 g/tonne) silver, contained in an interval of 135 feet (41.15 m) grading 0.218 ounces per ton (7.47 g/tonne) gold and 0.685 ounces per ton (23.46 g/tonne) silver.
*******October 21 2010******
Comstock Mining Raises $35.75 million in New Equity
Comstock Exchanges All Senior Debt for Equity, Secures Land
We announced today the successful completion of the three remaining objectives of our previously announced restructuring and recapitalization plan. The completed objectives of the plan include raising $35.75 million of new equity from an outstanding group of institutional other accredited investors, exchanging all of our previously defaulted, senior secured debt and related obligations for equity and securing integral land mineral rights.
The new capital, successful debt restructuring and land consolidation represent a watershed event for the Company and it builds on the success of our recent NI 43-101 technical report, that validated total measured, indicated, inferred, and historic resources of over 1.6 million gold equivalent ounces and mapped a path for near-term production.
We couldn't be more pleased with the tremendous quality and breadth of our expanded investor base. The strength of this capital raise coupled with the continued support of our existing stakeholders has positioned us with a strong and stable balance sheet for accelerated growth. We appreciate the patience of our stakeholders and the persistence of our management team.
Moelis & Company acted as exclusive financial advisor to the Company. Moelis & Company also acted as lead placement agent and Global Hunter Securities, Rodman & Renshaw, LLC, Merriman Capital Inc., Legend Merchant Group Inc., and Anderson & Strudwick, Inc., acted as placement agents in connection with the private placement.
The recapitalization was a critical prerequisite of strategic plan. The goal of that plan includes enhancing stockholder value by commencing commercial mining and processing operations in 2011, and validating qualified resources of at least 3,250,000 gold equivalent ounces by 2013.
The following are key highlights from the transactions:
- Exchanged all $29.4 million of its defaulted senior secured convertible notes and related obligations for shares of a newly created Series A-1 Convertible Preferred Stock and Series A-2 Convertible Preferred Stock (collectively, the "Series A Preferred Stock"). This transaction also clears all defaults under the terms of the notes being converted.
- Raised $35.75 million in gross proceeds ($32.75 million, net of commissions and transaction related expenses) by issuing shares of a newly created Series B Preferred Convertible Stock ("Series B Preferred Stock") to fund the Company's business plan to accelerate mine development and production and enhance exploration.
- Acquired exclusive rights of production and exploration with respect to extensive mining property, integral to the Company's nearly 6,000-acre land position, through an operating venture agreement, named Northern Comstock LLC.
Securing these exploration target-rich land and mineral rights in a long-term and safely capitalized manner, completes the consolidation of the Comstock Lode District and enables tremendous exploration potential. These properties include the historically bonanza-rich Gould and Curry, Woodville, Savage, Hale-Norcross, Yellow Jacket, Justice and Keystone properties, among many, many others. Our fall drilling program is on target for commencement on Monday, October 25, and we look forward to the results of our ongoing metallurgical testing by February, both representing key prerequisites for commencing production in 2011.
The Company has also agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock underlying the Series A Preferred Stock and the Series B Preferred Stock. The Company is also pursuing a listing of its Common Stock on both the TSX Venture Exchange and the NYSE AMEX.
About Comstock Mining Inc.
Comstock Mining Inc. is a North American precious metals mining company, focused in Nevada, with extensive, contiguous property in the Comstock Lode District. The Company began acquiring properties in the Comstock in 2003. Since then, the Company has consolidated a significant portion of the Comstock Lode District, amassed the single largest known repository of historical and current geological data on the Comstock Lode region, secured permits, built an infrastructure and brought the exploration project into test mining production. We continue acquiring additional properties in the district, expanding our footprint and creating opportunities for exploration and mining. The goal of our strategic plan is to deliver stockholder value by validating qualified resources (at least measured and indicated) and reserves (probable and proven) of 3,250,000 gold equivalent ounces by 2013, and commencing commercial mining and processing operations by early 2011, with annual production rates of 20,000 gold equivalent ounces.
Comstock Mining Company Overview:
Corporate Stock Transfer
3200 Cherry Creek Drive S.
Denver, CO 80209
Contact information for Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
Fax 800 750 5740
Investors 775 847 4755
Corrado De Gasperis, President, CEO
SOURCE Comstock Mining Inc.
Estimated Market Cap 74,000,000 as of May 18th 2011
Outstanding Shares 23,300,000 as of May 18 2011
Authorized Shares 3,950,000,000 as of May 18 2011
Bob Moriarty, 321gold (10/29/10)
"Where over 400 different mining companies once fought to extract high-grade silver and gold ore from the Comstock Lode in Virginia City, Nevada, one company exists today. . .Comstock Mining. Catchy name and no one is going to forget it anytime soon. This company is going to be the Diamond Fields of Voisey's Bay fame. That was the giant find in 1993 that lit the market on fire. The project was sold in 1996 for $4.3 billion. This is the big Kahuna. This is the company that is going to ignite the junior market in this cycle. It will be sold for a lot more than $4.3 billion when it hits the auction block.
Comstock Mining is going to change the mining business in the United States and North America. Maybe the world. John Winfield is self-made. He's rich already and he's not married to doing things the way they have always been done. I went to meet him and his team. He had never heard of either Diamond Fields or Voisey's Bay. That's a good thing. He can think for himself. . .I love the company. This is going to totally change investing in gold and silver stocks. It's a real mining company run by real mining people and it's going to make a lot of people rich."
Andy Hoffman, Travel Dispatch (03/07/11)
"Comstock Mining has done what most industry observers thought impossible-consolidate claims from one of the most famous silver and gold discoveries in history with over 6,500 acres of property. . .and from what I saw, it would come as no surprise if the activity of the late 1800s Comstock silver and gold rush repeats over the next decade and beyond, only this time with ONE COMPANY controlling the ENTIRE DISTRICT utilizing modern mining methods and management."
Roger Wiegand, Trader Tracks (11/30/10)
"We just read Robert Moriarty's review of Comstock Mining Inc. We do not normally recommend OTCBB shares but this is an exception. . .visit 321gold.com to read Bob's fine report, Rebirth of the Comstock Lode.
Comstock Mining is trading this morning at about US$3.27. There are 18.9M shares outstanding (90M upon a conversion). . .We have wondered for many years as to why this mining camp had not been reopened. The 321gold story will explain why. Primarily, the property was tied up in extended litigation for many years but has now been resolved.
We recommend buying the shares for the longer view and do not expect to recommend trading in and out on this one for numerous reasons. That could change, but we don't think so. We recommend buying the shares with no stops. Tuck this one away for the primary upside in the gold, silver and commodities cycle that we think will last many more years."
ults Include One Ounce-Plus Intercept in Hole D11-21