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And this; Comstock Mining Updates Mercury Remediation Venture
Yesterday they announced a new CFO Juan Carlos "JC" Giron Jr, Timothy Smith is focusing on the realty side of the business particularly the sale of the Daney ranch.
Comstock Mining Inc. (the "Company" or "Comstock Mining") (NYSE American:LODE) announced a number of salient updates on its collaboration with Oro Industries Inc. ("Oro"), and the newly formed company called Mercury Clean Up LLC ("MCU"), for the manufacture and global deployment of mercury remediation systems with proprietary mechanical, hydro, electro-chemical and oxidation processes to reclaim, treat and remediate mercury from tailings and industrial effluents.
In June 2019, announced that it would, through MCU, demonstrate the feasibility of a mercury remediation system within the historic, world-class, Comstock Lode mining district. Comstock Mining provides the platform for testing the mercury remediation system, and MCU conducts the initial trials starting with a 2 ton per hour pilot operation that could scale up to 25 tons per hour.
Oro has commenced the manufacturing for the deployment of the 2 to 25 ton per hour mercury recovery plant in July 2019, and recently completed the critical "Reverse-Helix Spiral Concentrator" component of the system. The entire system will be mounted on three separate trailers for mobility and will be set up on the Company's fully contained, double-lined processing facility during the fourth quarter with an expected start date in December 2019.
In addition to completing the Reverse-Helix Spiral Concentrator the Company, Oro and MCU have;
Identified sample locations within the Carson River Mercury Superfund Site ("CRMSS"), which will be sampled per an updated Sampling and Analysis Plan ("SAP"). Once suitable sites have been identified, bulk samples will be extracted and transported to the MCU mercury remediation system located at Comstock's American Flat processing facility located in Storey County, Nevada;
Coordinated and met with the Nevada Division of Environmental Protection ("NDEP') in mid-August, identifying project objectives, preliminary sampling plans and prerequisite approvals of engineering design changes, documentation standards, and periodic reporting requirements; and
Ordered the 200 gallon-per-minute dissolved air flotation ("DAF") water recycling treatment plant, also scheduled for delivery in December.
Oro's Helix Spiral concentrators can achieve the highest concentration ratio and recoveries possible with almost any types of material that can be concentrated by gravity. The design and engineering principles of the multi-helix spirals embedded inside the concentrator allows for full adjustment to concentrate mercury and other heavy-metal contaminants, yielding the peak concentration ratio with virtually no loss of material. This unique characteristic means higher production rates and higher yields.
Mr. De Gasperis concluded, "MCU is moving full speed ahead. Our experience in eliminating mercury contamination from the environment, coupled with their technology and processing know-how, positions a tremendous opportunity for our planet, our partners, and our company and represents a significant step forward in our strategy for delivering conservation-based, economically enhancing mining technologies."
The Company will provide additional updates in October 2019. MCU, our process technologies, and the team, will be showcased during our Annual General Meeting (AGM) scheduled for November 12, 2019, at the historic Gold Hill Hotel, 1540 S Main St, Virginia City, NV 89440.
Just saw that article. I have been picking up cheap shares but think I may have to up the offer soon.
Recently made a longish trip around Idaho, Washington and Oregon and saw a number of Nutrien AG stores that I hadn't noticed before. May have been CPS?
Is that NutrienAg?
TNGL sure plays it close to the vest.
Thanks Harpe,
I am glad to see that the lack of news was simply a priority change while hammering out the MCU deal. Now it is back at the top of the list and we will just have to wait until there is news, same with the Auric mine.
On the other hand I am confident that the fertilizer aspect is ramping up with the enlarged sales team.
I tried to snatch up some of these cheap shares and could only get 700 at 45 cents.
I'll take it.
Yes, Tngl certainly seems to have a problem finishing the deal. But they also keep pouring money and stock in. That earnest money is coming from somewhere and CDG considers them to be real enough that he and the board have not pulled the plug on it. There is something there that tngl really wants to get ahold of and whatever they found inspired them to put a lock on the northern properties for future exploration.
No, not everything CDG says in these sessions comes true. We are not privy to the day to day changes that take place and make previously laid plans get altered:
"The best laid schemes o' Mice an' Men,
Gang aft agley,
An' lea'e us nought but grief an' pain,
For promis'd joy!
(The best laid schemes of Mice and Men
oft go awry,
And leave us nothing but grief and pain,
For promised joy!)"
I have stopped getting excited about future possibilities. I take lode one day at a time and won't keep buying until I see something in the present rather than future
If he does choose to work the Dayton I hope he took to heart the lessons learned from that last fiasco. I keep wondering how; if or when mining takes place at both the Lucerne and the Dayton they will manage the use of the facilities. New construction or alternate weeks?
Right you are, I intended to type over 0.5 grams. Not over 1.5.
Oh well, there is no spell check for numbers.
Well 17 assays all over 0.1 gram.
Three over 1/2 gram and five over 1.0 gram.
One of the five being 4 grams and another at a whopping 37.6 grams.
Average is 2.8 grams.
Take the 37.6 outlier out and the average is still over 1.5 grams.
What does it take to be significant?
When the second pad starts it is supposed to be even higher assays.
Yup, those shares swirled down.
Shorts selling small blocks at depressed pps? Might be.
Drive the price down, keep it down, discourage longs into selling, PPS goes up they sell at a profit, drive it down again.
Repeat and rinse.
Shorts don't want to see the price go up too quickly.
Unless and until there is some news of a steady continuous source of income the shorts control the field. News of the real estate being bought and paid for or another payment from tonogold won't make much difference.
Production at either the Lucerne or Dayton.
Cycladex or MCU signing contracts with other miners.
Impressive 43-101's released.
News of a major miner signing a JV.
These will change who controls the field.
Ohhh, but what a tease! Lucerne, Gold Hill Hotel, AMT, Daney ranch, silver springs property, industrial park, cycladex, KAM-Thio, Sutro, new dayton outcrop, many water rights, Tonogold and now presenting CMU. Or is it MCU?
They got me in with the early and steadily accumulating acquisitions.
NOw I have just going along for the ride.
But yeah, if Tonogold does well then LODE makes out. And the money behind TNGL is a mystery so I haven't invested. But I have a gotten into ITRO. They have plenty of things going on.
TNGL and LODE have both been holding back on issuing 43-101's. Behr-Dolbear has worked on the Dayton and MDA in the Lucerne area.
Two possibilities the 43-101's are really, really bad or they are extraordinary.
What little I can learn about TNGL indicates something good is in the works.
Have you been keeping an eye on tonogold? It has been inching up. And it is deliberately delaying the issuance of its 43-101, comstock has also been delaying it 43-101.
And Comstock is accepting shares in lieu of cash from TNGL.
Would love to be a fly on the wall.
Yup, Ahm hongree!
Seems like LODE is focused on the MCU option and the Dayton Resource. KAM-Thio and Cycladex don't appear to be on the front burners.
Good way to group the headlines from the year. Looking forward to the July headlines. Somewhat more than only being able to see toxic debt.
June 23, 2019
Mexus to begin leaching June 27th at its Santa Elena mine
June 03, 2019
Leaching process started at the Santa Elena mine
May 20, 2019
Mexus hires experienced chemical engineer for its Santa Elena mine
May 12, 2019
Mexus pays off debt and updates its shareholders on progress at the Santa Elena mine
May 05, 2019
Mexus continues positive progress towards production of gold at Santa Elena mine
April 21, 2019
Mexus crushing circuit operational at its Santa Elena mine
March 24, 2019
Positive progress towards gold production at the Santa Elena mine
February 25, 2019
Mexus Moving Forward with Pad Reconstruction
January 18, 2019
Mexus Stage 1 drilling complete; pays off $105,000 loan commitment; Plans to reach out to Itronics and explore its breakthrough technology
MMC news search Mexus
I do not think that whoever is doing this sees the "big picture" or cares.
Agreed.
There are no after hours PR's.
Maybe settling an estate for about 80K?
Or just tired of waiting.
Oh, and comedy IS hard.
I believe that TNGL is good until later this month. The 26th when they need to pay out $1,000,000 in cash or purchase a one month extension by paying half in cash and half in convertible preferred stock. The cash goes toward the payoff, stock does not.
Just when I begin to wonder if Tonogold is going to come through they either make the payment or purchase an extension. Last I heard they are seeking to get listed on the Toronto exchange through an IPO and have initiated a capital raising.
At any rate they have done a lot of work toward a 43-101 and put a lot of money into CMI's coffers. Like you said, far better off.
Today's 8K answers my question of why Comstock gets up to 62.5% of the potential profits.
8K
And here is an interesting development; Comstock has entered into partnership with Mercury Clean Up (MCU). MCU, in partnership with Comstock, will deploy that solution (Mercury Remediation System) globally.
Definitive agreement
I don't know if the following link describes the MCU process or if it is another project of ORO:
Oro industries and Mercury
Comstock will own up to 25% of MCU and separately, 50% of a new 50-50 venture called Comstock Mercury Remediation LLC, effectively resulting in a 62.5% profit interest for Comstock.
Companies that may have an interest in participating in the development of the Auric Fulstone Project should send their inquiry to John Key at jkey@itronics.com.
That is interesting!
Thanks
L.T.
I think I made my IF in that post a very big IF.
Maybe I should have made it both all caps and then bold faced it.
When those tests are final and IF the results are shown to be cost effective then expect these bottom line sensitive companies to be all over one or both of these companies.
Just laying there waiting for someone smart enough to recycle? No, that is simple-minded nonsense.
Unless and until someone smart enough to find a process to recover that remaining asset. Right?
If there was a way to make money from their waste products, the mining companies would be all over it. They are very sensitive to the bottom line.
Right now both KAM-Thio from Itronics and a company called Cycladex are being tested near Virginia City. Cycladex results are still not known because it is privately held. But there have been real, significant results from the KAM-Thio tests. When those tests are final and IF the results are shown to be cost effective then expect these bottom line sensitive companies to be all over one or both of these companies.
Okay . . .
There is value in all of it. And don't forget the return of funds from reclamation bonds. It all adds up.
Good job on getting some money back from the Lucerne reclamation bond. Let's see more trees like this; Singleleaf Pinyon along with more ground cover.
Good way to group the headlines from the year.
May 20, 2019
Mexus hires experienced chemical engineer for its Santa Elena mine
May 12, 2019
Mexus pays off debt and updates its shareholders on progress at the Santa Elena mine
May 05, 2019
Mexus continues positive progress towards production of gold at Santa Elena mine
April 21, 2019
Mexus crushing circuit operational at its Santa Elena mine
March 24, 2019
Positive progress towards gold production at the Santa Elena mine
February 25, 2019
Mexus Moving Forward with Pad Reconstruction
January 18, 2019
Mexus Stage 1 drilling complete; pays off $105,000 loan commitment; Plans to reach out to Itronics and explore its breakthrough technology
MMC news / search Mexus
Preferred to read it on SA.
Was worth my time.
Haven't had much interest this year, starting to pay more attention.
If I am in the area next Fall; I might take that tour in September.
Been there before, stayed at the Gold Hill. Good food, nice room, no ghosts. Listened to a talk by CDG, met and talked with Larry who explained the Lucerne underground from we were standing on the road. Also met NBC, nice guy. Had to cancel the full tour when my wife got very ill and I cut the trip short.
Harpe,
Did you see what CDG had to say about ITRO and the potential in the reprocessing of waste in the Seeking alpha transcript?
Interesting stuff.
Harpe,
Did you see what CDG had to say about ITRO and the potential in the reprocessing of waste in the Seeking alpha transcript?
Interesting stuff.
Initially the agreement was for a 51% stake and as far as I knew that was still the agreement.
So I was pretty startled to read articles from today indicating that it was a complete sale of the Lucerne project.
I wasn't paying close attention this year and missed the PR from January and the follow up in February. Probably saw them and just looked at the headline expecting it to be more of the same.
Looks like they are; Tonogold is now seeking a listing on the Toronto Venture Exchange by way of an initial public offering to coincide with a capital raising to provide the funding to complete this acquisition and to fund the advancement of the project over the next 12 months.
Comstock Mining shares climb on sale of Lucerne properties to Tonogold
Tonogold came up with another million cash toward the rights to the Lucerne
https://www.globenewswire.com/news-release/2019/03/19/1756833/0/en/Comstock-Mining-Receives-Additional-1-Million-Toward-Lucerne-Mine-Sale.html
thank you.
I see your valid concerns. Over the years I've read articles on why entrepreneurs often have difficulty managing the company into a really big success. It is especially true when the founder is an engineer or scientist. As your brainiac father showed, genius in one area doesn't guarantee the same brilliance in every area.
But I have to say that this innovation in mining is recent. These things take time and I do feel that the progress is not too slow. We do not know wht is developing behind the scenes. There are intriguing rumors.
The fertilizer production has had a natural limit based on the availability of source materials. The new facility shows that they have oevrcome the availability problem and are readying to ramp up production.
Closer to a decade ago. It was announced on June 28 2010, a thousand to one split to reduce the outstanding from just over three billion shares. Since then the outstanding has grown from just over three million to 15.4 million.
Yep, forgot about that.
Let's see. . .
1. Another new manufacturing facility over in Wabuska.
2. The news last October out of Auric Gold.
3. The results from the experiments at Comstock mining.
4. Talks with other mining companies.
5. The potential for Goldn'gro with the release of more water to California growers.
I would guess up.
Let's see. . .
1. Another new manufacturing facility over in Wabuska.
2. The news last October out of Auric Gold.
3. The results from the experiments at Comstock mining.
4. Talks with other mining companies.
5. The potential for Goldn'gro with the release of more water to California growers.
I would guess up.