Wednesday, November 18, 2020 11:10:46 AM
Gold production is going to become an "on the side" project based on their plans. I feel certain the mine plan and exploration efforts will see frequent delays, that was a common theme on those efforts in the past (weather, permits, legal/technical issues, etc). I would wager LODE works on this mine plan slowly while focusing heavily on MCU as the priority.
Keep in mind that a mine plan is not the same as actually producing gold, there will be many more steps before that plan is implemented. I don't think we'll see an operating conventional mine for 5-7 years. The only way we see gold before then if they can extract it from the MCU output as they described.
And you know what, if MCU makes them a successful business then so be it, success is success. But that's my expectation now.
I'll forecast this too, if MCU is as big of a hit as they want it to be then they'll drop all mining efforts and sell the resource rich properties and just collect royalties. They'll do this so they can fund rapidly expanding MCU. The Tonogold situation is what the future of conventional mining on the Comstock Lode looks like, it won't be LODE doing it. Starting to wonder if LODE could have already considered such plans all along with the Tonogold relationship.
Recent LODE News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 08:09:00 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 09:26:11 PM
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