Replies to post #20653 on Comstock Inc (LODE)

[resourceinvest]

It appears that one of my previous posts has been deleted so to put my last into context I repeat now what I previously stated that over the past 3-years since operations began the company has consumed $50 million, having poured 60,000 ounces of gold at an average gold price realized of $1,300 per ounce. To have merely broken even, the gold price would have needed to have averaged $2,100 per ounce over this period. The Ops never had any chance of being "economic".

[wshaw14]

Yes, that is true. It is near impossible to make a profit on a low grade mine when spreading expenses over only around 20K ounces.