Comstock Inc (LODE)

[cpmill]

Their run rate is being measured in "gold equivalent ounces"- so that 20K annual includes silver revenues, converted to the equivalent of gold ounces sold.

So taking the reported production for the last month:


1,259.2 oz au and 14,732.3 oz ag produced this last month.

1259.2 X 12 months = 15,110.4

14732.3 X 12 months = 176,787.6

If we use $34 per ounce for silver, and $1750 for gold (fairly average for October), the silver equals another 3,434.7 gold equivalent ounces, which puts current annual run rate at 18,545 gold equivalent ounces.

They are extremely close to their forecast annual run rate from day one. I see it increasing quickly and easily beyond the initial. In fact, in a presentation in London last week, Corrado mentioned that they will probably stabilize operations at the current (meaning 20k annual) run rate for around 6-8 months, and then increase throughput.

Steady progress..... meeting expectations.