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Looking good. Still must remember 3 bucks = 1.5 pennies pre split.
Still alot of room to go. Once we are $20 and higher .10 cents old terms then we can get excited. Fasten your seat belts.
Cheers,
D
1. In the press release it mentions 7.5% dividends. Will these dividends be paid to all investors starting Jan 1, 2011?
No, dividends are only for A-1 Preferred Stock. AKA big investors.
2. The next step is to start digging, correct? If so, when/how long until that process will begin?
Minor air permit to complete. Alot of the equipment and infrastructure are already in place. They now need to hire more staff, get trucks and diggers moving, prepare leach pad etc. Ball Mill should hopefully be rolling probably late spring next year. Then we start pouring dore bars aka minting money.
3. The press release stated Moelis & Company acted as exclusive financial adviser to the company. Are they not anymore?
No need for Moelis at this point since we now have operating capital and no debt. If we need further capital infusion Moelis probably would be brought in again. They are a gun for hire. Moelis did personally invest $150,000 of his family trust so he does have a vested interest in Lode making a go of it.
Good stuff!
We are really off to the races now! Next, ball mill get's rolling, profits start coming in, resource increases, move to new exchange, price of silver goes to the moon, production, and exploration both increase with each one feeding the other. Then we hit the mother Lode.
Go Lode!
Cheers,
D
Just got back from 1 week vacation in Cape Breton. Looks like I missed a little pull back action. Also, looks like I missed the chance to buy some more under 2. Chart is looking nice and lot's of volume this Monday morning. Good to be back. I'm guessing we are still waiting on financing news.
Cheers,
D
Sure,
We did a 200 for 1 reverse split. 1 penny = 2 bucks. Right now we a trading just over a penny old terms. So 10 cents equals 20 bucks now. I think we should easily hit 10 bucks or .05 cents old price. So far we have over 1 million gold equivalent ounces on a 43-101 major permits in place and financing for production is eminent. We will be moving to a bigger exchange once the ball mill get's rolling.
Best of luck,
Cheers,
D
Yup, creating a new base. Getting ready to spring board up again.
Cheers,
D
Current Ask 2.50 bid 2.31. Quite the spread.
Cheers,
D
Mining stocks in the red today. Most having a pull back here. The fact that lode is holding in the green show's some good strength. Also nice to see if you look up Comstock lode on wikipedia the only mining company with a link is comstock mining inc. ( ;
http://en.wikipedia.org/wiki/Comstock_Lode
Cheers,
D
Aye aye Captain!
Cheers,
D
Ask just jumped to $2.50. Hopefully good news is around the corner. Interesting action.
Cheers,
D
Agreed, should easily be a 5 dollar stock.
Looks like some dumping yesterday could have taken out some stop losses and gave some folks a nice buy in. Intentional? who knows. Positive financing news will clear the pathway to higher prices. Then we will be on our way.
Cheers,
D
Yup we are moving but volume is kind of low. So this means people are holding tight and I think we are still flying under the radar. The spread between the bid and the ask is still large so it's kind of a Mexican stand off at 2 bucks right now. Some people are waiting for financing news and still most investors out there have never heard of the Comstock. Once financing is in place and we move to a big board watch out.
Cheers,
D
Yup and if that's the case then with new spot prices...
1,250,000 oz gold x $1296 spot price = $1,620,000,000
+ 10,000,000 0z silver x $21.20 spot price= $212,000,000
$1,832,000,000 Roughly Just shy of 2 billion so far. Not bad.
Now lets double the resource evenly put gold at $1500 and silver at say. $35. These numbers are realistic I believe.
2,500,000 0z gold x $1500 spot= $3,750,000,000
20,000,000 0z silverx $35 spot= $700,000,000
$4,450,000,000 Just shy of 5 billion
As you can see silver is the real sleeper here.
Good luck all
Cheers,
D
What's the stock? Just curious.
Cheers,
D
Yup, most likely some more consolidation here for a little while then soon $2.00 1cent old terms becomes the new bottom support. It's kind of funny to watch people selling under 2$ aka 1 penny. Best of luck to all. I'll try and snatch up some panic dumps along the way if any. BLTA
Cheers,
D
Yup if financing is decent and final permits are in place
we might finally in the mining business. It will be a whole new company. Then hopefully we move to the big boards. Exciting times ahead.
Good luck all,
Cheers,
D
Heavy volume today 40,883 so far. Hopefully financing news will come out soon. Best of luck to all.
Cheers,
D
Wow!
Possible I think gold will be hitting 1300 before years end and 1500 next year. Silver is a wild card and has much more to go. Every gain in PM price is exponential for our potential share price. I'm sticking with my $20.00 long term valuation. I've been a share holder here for over three years, and I'll be here for three years more at least until buy out or a move to the big boards.
Good luck all,
Cheers,
D
Ya maybe,
I've followed this stock pretty closely for about the last three years. I just by accident came across that article so I dunno how much exposure it received. I think we are still under the radar of most people. Big gap between the bid and the ask now. Bid:1.55 x 500 Ask:1.95 x 500. Looks like some sellers are starting to wise up. There it goes back down to 1.60. Ha ha,oh well, grab'em if you can. Someone is still trying to get it down I think. he he.
Cheers,
D
I think who ever is selling now at 1.60ish will be
kicking themselves later. To each his own though. It might take a day or two to form a base here. Some folks might be trying to create and illusion of downward pressure and other people are kind of in wait and see mode to see which way the MM's take us. Same old BS. Patience will pay off here.
Cheers,
D
We are making higher lows every time. A little consolidation here and then we take off again.
Cheers,
D
interesting recent article
Comstock Mining (LODE): Silver-gold bonanzas possible
Fresh Nevada miner has LODE ticker
http://www.stockhouse.com/Columnists/2010/Sept/3/Comstock-Mining-%28LODE%29--Silver-gold-bonanzas-possi
Cheers,
D
Agreed,
Over double the average volume traded thus far. I'm not a chart expert but it is still looking good. Looks like it will be a rocky ride on the Comstock Express. Some fat people will get scared and jump off the train and throw it off balance but the destination remains the same. Trick is to pick up the lower shares they leave behind. Hard to do with any real amount though. Don't let the fatties throw you off the train.
Good luck all,
Cheers,
D
There are just to many variables right now to come up with a realistic estimate. But yes I agree. If you value it to the bargain low side or the higher side it's still undervalued. I agree with the article though, junior gold companies are starting to be valued more towards the upside and I also believe the Comstock with it's new consolidated status 43-101 and rich mining history will be priced at a premium above other mines. Most of our land is unexplored and the potential is vast. It's very attractive for many reasons and I think a premium price within the $20 range is easily within reason in a few years.
Good luck all,
Cheers,
D
This is my rough math.
731,000 ounces of gold 9,380,000 ounces of silver=
1,060,000 gold equivalent ounces x 1250 = $1,325,000,000 Bil div by Goldcorp's bid of 35% of total resources at current prices, from the article.
=$ 463 750 000 lets round that up to $500,000,000 because prices are up.
500,000,000 div by approx. after debt 60mil shares? = $ 8.33
But lets take into account Lode plans to double it's resource by 2013 and silver prices look set to double. Gold who knows?
double resource 8.33x2=$16.66 then double price 16.66x2= $33.32 per share not out of the question. So $20.00 somewhere between the high and the low is not unfeasible.
Then possibly double the resource again or factor in a bonanza or factor in a higher % bid. It could go to $60.00 per share
There are many variables but basically my hunch is this stock is probably under valued.
Also it's in a mining friendly state with existing infrastructure and most major permits in place. That counts too.
Many factors and variables. Good luck.
Cheers,
D
Silver futures prices just broke through the $20 an ounce barrier.
I'll take comstruck for $400 Alex: The Comstock Lode was the first major U.S. discovery of this metal?
I think we should see a bounce off 1.50 up to a least 2 bucks once financing is in place. 2 bucks equals 1 penny in old price terms so it's not to much of a stretch. This stock should be worth at least 10 cents once production kicks in or $20 around bucks in today's price terms. I'm holding on at least until we make it to the big boards or buy out. That won't be for a while yet. Hopefully all our ducks will line up in a row soon. Still some ducks wandering around the ole Comstock, hence the current price. The big fat financing duck might be waddling it's way soon. Good luck to all.
Cheers,
D
Higher than normal volume in the past few days. Hopefully some good news is brewing.
Cheers,
D
current bid 20,000 @ 1.28. Ask 500 @ 1.31. I'm assuming on top of the over 100,000 shares already traded today. Someone is trying to snap up cheap shares. Will it fill?
Cheers,
D
Ya, interesting. I think someone is getting a good deal down here.
Sellers might regret later. We will see.
Cheers,
D
Ya probably slipping with the overall markets right now. Where to you think we might form a base support again?
Cheers,
D
Yes up on larger than normal volume. Hopefully this means something
good. Patience is da people in da hospital and denial is da river Egypt. Somes gots patience others in denial.
GO LODE!!!!
Hey good stuff. Here, just waiting for news. Gold and silver
making nice moves. Lode should follow if all goes accordingly.
Cheers,
D
Good stuff. Best of luck to all. See you at the BucketO'Blood!
Cheers,
D
Agreed, I own the gdxj as well. Gold is slowly trending up again as the dollar is making again making new lows. A trend that I don't see reversing for some time. All the while gold and silver deposits are being depleted. Juniors will find profitability in areas once considered table scraps to the majors. If the new management executes there new plan well then the patient investor will be rewarded here.
GO GSPG!!!
Cheers,
D
Comstock Mining Acquires Key Mineral Leases on Southern Extent of Comstock Trend
Press Release Source: Comstock Mining Inc. On Tuesday August 10, 2010, 12:22 pm EDT
VIRGINIA CITY, Nev., Aug. 10 /PRNewswire-FirstCall/ -- Comstock Mining Inc. ("Comstock Mining" or the Company")(OTC Bulletin Board:LODE.ob - News) announced today that it has entered into a Mineral Exploration and Mining Lease Agreement ("Agreement") with New Daney Company, Inc., and now controls seven key unpatented lode claims situated in Spring Valley, at the extreme southern end of the Comstock trend. In Spring Valley, the main group of mineralized structures have laid mostly concealed beneath a layer of pediment gravels. These additional Spring Valley claims are adjacent to the Company's Dondero property, where the Company's 2009, exploration drilling discovered significant mineralization beneath the gravel.
"The acquisition of these rights expands our control of the most southerly part of the Comstock, beyond our recent Dayton properties acquisition, to encompass an additional, contiguous and relatively unexplored, mile-long segment of the Silver City Branch of the Comstock Lode," stated Corrado DeGasperis, Comstock Mining's Chief Executive Officer.
In April 2009, the Company announced the results from six drill holes in Spring Valley (SV09-01 through SV09-06) on the Dondero property (see table below), and suggested that additional exploration work was planned for the area to better define the mineral potential. The significant mineral intercepts from those holes are republished below for convenience.
Hole Id
From (feet)
To (feet)
Length (feet)
Gold (ounces per Ton)
Silver (ounces per Ton)
SV09-01
270
280
10'
.023
.111
SV09-02
5
30
25'
.013
.141
105
125
20'
.028
.034
SV09-03
125
135
10'
.016
.048
SV09-04
35
40
5'
.058
.140
405
420
15'
.031
.091
SV09-05
40
70
30'
.209
.992
70
160
90'
.015
.217
350
425
75'
.016
.124
465
490
25'
.014
.108
SV09-06
235
290
55'
.022
.287
275
290
15'
.026
.192
The Agreement included the acquisition of a wealth of data from previous exploration in Spring Valley. It includes data from approximately 60 reverse circulation (RC) holes drilled in Spring Valley during the 1980's, as well as seven core holes that were drilled in 1997 and 2000. Comstock Mining is currently incorporating and evaluating the results into their planning for further exploration. Some of the significant mineral intercepts from two of the earlier core holes are published below.
Hole Id
From (feet)
To (feet)
Length (feet)
Gold (ounces per Ton)
Silver (ounces per Ton)
M00-1
163
172.5
9.5
0.780
2.430
(includes)
165
167
2.0
2.952
9.385
SVC-1
14
19
5.0
0.180
0.598
"We have been working toward the acquisition of these Spring Valley claims since 2009, when we realized that the mineralization model we had created for the Lucerne resource area also fit the mineralization in this area," stated Larry Martin, Comstock Mining's Chief Geologist. "Ongoing geological assessments indicate that the Silver City Branch extends southward through our Dayton property, into Spring Valley, and through our Dondero and these new claims," Mr. Martin continued. "Recent geological and geophysical work, in conjunction with our broader interpretations of the Comstock, have demonstrated that the mineralized intercepts in holes SV09-04, 05, and 06 were contained within the extension of the Silver City fault zone; the remaining three holes encountered mineralization along one or more intersecting structures. The historic holes that we acquired also appear to be drilled on structures that projected to cross the Silver City fault zone. That makes the intersection of these structures a very exciting target for future drilling," concluded Mr. Martin.
I agree. Moelis is very well known in the deal making world. He should be able to negotiate reasonable terms. He has his companies reputation on the line as well as his families cash he has thrown on the table.
In his line of business reputation is everything.
http://www.moelis.com/news/documents/Dealmaker_The_Networker.pdf
BTW even bigger spread between the bid and the ask today. Bid 1.25
Ask 1.51. I guess alot of people looking for cheaper shares but maybe only a few willing to sell down there. Will be interesting to see end of day volume. My scotia bank trading platform itrade, they bought etrade canada, won't even let me place any trades until next week because of the name change? Might be some more Canucks like myself jumping into the water next week after the stock get's cleared though Canadian customs ha ha.
Cheers,
D