Comstock Inc (LODE)

[TMLonggun]

Cash and cash equivalents as of September 30, 2015 were only $2.5 million, which is why they raised more money. Even with the new raise another one within six months is quite likely. Stage 1 UG will cost just under 3 million and their burn rate is still high. Their production is also dropping instead of rising as well, revenue down, no where near 150-200k target, they will be lucky to do 30k this year.

Correct me if I am wrong but I think it was supposed to be year 1 20k rate year 2 30k year 3 ~70k+ year 4 150-200k. We are now in year 4 at about 27-29k per year without making a single dime.

Found some pics:





Their debt has also increased to a significant percentage of market cap at 16 million (from being debt free a couple years back). And their grades have dropped from .039 to .027, which even with the decline in oil and consumables means they still lose money. "The decrease resulted from lower average price per ounce of gold realized and lower [gold] production." I am not sure if that is a temporary section they are working through or what but things do not appear to be moving in the right (profitable) direction. Lode's plan seems to be: hope for higher metal prices and higher Dayton grades.