Comstock Inc (LODE)

[resourceinvest]

Absolutely. Thanks.

Also I was overseas when you asked me about what is meant by "equivalent gold ounces" earlier in the month. Apologies for the delayed response. This is effectively gold ounces plus the gold equivalent of the silver ounces. It's used for reporting production as well as Resources.

For 2015 the Company poured 15,451 ounces of gold plus 221,723 ounces of silver which the Company calculates to be the equivalent of 3,004 ounces of gold (resulting in 18,455 ounces of gold equivalent). See page 43 of the 10-k (2015).

The average gold and silver price for 2015 was around $1,180 and $16 per ounce. Therefore it would take 73.75 ounces of silver to provide the same revenue as one ounce of gold. Therefore the 221,723 ounces of silver divided by 73.75 provides the 3,004 (give or take) ounces of gold equivalent for silver.

Obviously changes in both the gold and silver price ensure that this ratio is constantly changing.

It's an ok statistic but at the end of the day this is a gold producer with silver revenue being treated as a credit to operating costs. Accordingly I tend to focus on actual gold production and not on gold "equivalents".