Comstock Inc (LODE)

[Congo Mining]

1 OUNCE OF GOLD = $35

BANRO CORP...SYMBOL BAA

100 shares BUYS 1oz LOM PRODUCTION

Calculations...

Twangiza produced 35,943 ounces of gold in Q1 = approximately 36,000 oz.
Annualized production from Twangiza = 144,000 oz

Guidance on Namoya Annualized production = 110,000 oz.

Total Annualized production = 254,000 oz.
Outstanding shares 252,000,000

Shares per oz of production = outstanding shares/production.

OUNCES PER SHARE PER YEAR = ANNUALIZED PRODUCTION / OUTSTANDING SHARES

254,000 / 252,000,000 = 0.001007937 ounces per share per year.

(0.001 oz /share)(1000shares) = 1oz

So 1,000 shares buys 1 ounce of annual production.

Note Annual.

NI43-101 imminent

When then updated mine life is released I expect both Namoya and Twangiza to average about 10 years.

If 1,000 shares= 1 ounce of annual production.

Then, 1,000 shares buys 10 oz of production for LOM.

Thus, 100 shares will purchase 1 oz projected Life of Mine Production


Also, @ 0.38

Annualized Margin Cost...

Given Gold margin is $681/0z in Q1 ------($380/oz) / ($681/oz) = 0.45521. ***when Namoya has same margin….you’ll be buying a dollar of margin for $0.55 per year.


***Current mine life in the NI43-101 is not inclusive of Transition and Fresh Rock.
As was stated on several occasions by management new NI43-101 is imminent.
As we all know with further exploration resources will be added and LOM is extended.
For precision current LOM listed in the NI43-101’s at Twangiza is 8.76 years and Namoya is 6.74 years.
Yet it is still conservative to assume a 10 year LOM given local grade and the inclusion of Transition and Fresh Rock resources.