Comstock Inc (LODE)

[baystock1]

Yes I do recall the Sutro deal as being for 5500 acres. On the map it looked as big as the rest of Comstock's holdings. Larry mentioned that there were rumors of them hitting a 50 foot wide vein of .25 oz/ton at 1200 feet when tunneling. But they were too busy trying to finish the tunnel by a certain timeframe to follow up on it. But now Comstock can look into it. IMO comstock won't need to issue equity to finance the $1 million purchase, as I think they can use it as collateral to borrow money against, as they have done for their purchase of the water rights and the industrial land.

I think there are up to 6 months more pain in the junior gold miner sector. But Comstock mining could rally on good news before then if any of the following 2 catalysts were to happen:

- they manage to sell their non-mineral lands and water rights for the hoped for sum of $14 million. This would make them debt free and also pay for 1 year's worth of G&A. Corrado stated that he expected this sale to happen before the end of year.

-a JV deal is struck for Lucerne. The broad parameters of the hoped for deal would show that the deal was worth $100 million as the partner would have to pony up approximately $50 million over a period of a few years to earn in a 51% stake including operational control. If such a deal were to be struck the share price should sky rocket IMO.