Saturday, May 03, 2014 9:52:05 AM
Gold was trading well above the $1700 range and silver was over $32. That may have given them a fundamental confidence (it did me) that Comstock would be profitable at the 20k ounces per annum run rate. Had metal prices stayed at those levels, their bottom line would have increased by another third or more. Unfortunately, metal prices spiked down and have stayed in the lower range, thus hurting profitability at the 20k run rate.
We now find ourselves building up to the 40k annual run rate by the end of this year. What was stopping them from producing the 40k ounces from day one? It's called a permit with very specific limitations on what their circuit could produce.
As you may remember, a major modification to the company’s Water Pollution Control Permit was approved at the end of October; this allowed them to increase the amount of processed mineralized material by FOUR TIMES. This was then achieved in part, by building additional heap leach pads and loading them with higher-grade ore, which has been their stated goal for quite some time.
From a planning perspective, this all seems quite logical and realistic to me.
The signs I'm seeing today all point to great success...
Recent LODE News
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- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 08:45:45 PM
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