Comstock Inc (LODE)

[cpmill]

"This thing trades so weird."

Amen to that. I can't figure it out, so I quite trying years ago. I just hold a modest position and watch the madness.

For example- I was stoked for the first pour. For them to pour and sell $700K worth of metals after just 2 weeks of leaching? That's quick.

Yet apparently a bunch of investors were disappointed... I think that they don't understand the mechanics of how the heap leach process works... that unlike a mill, which has a retention time measured in days, a heap leach system takes a 2-3 month cycle to get decent recovery ratios... and usually it will be leached for 18 months or more in total (while fresh ore is being stacked on top). This is the reason that heap leaching is so much cheaper than milling- high tonnage, lower grades, and recovery over a longer period.

And the share price drops on the news, and continues down the next day? The company is operating at their stated goal (1 million tons per annum), quickly starts producing revenue, and the share price drops?

I just don't get it.... maybe it's just a case of unrealistic expectations from investors who don't quite understand the realities of the mining business.