Comstock Mining recently announced financial results and a production update that showed over six weeks of producing 425 gold ounces per week. This is ahead of schedule and a positive announcement. In the first quarter the company shipped 2,261 ounces of gold and 15,599 ounces of silver. The Bureau of Land Management (BLM) allowed use of an existing haul road which helped the company accelerate growth plans. This is one of the few junior gold companies increasing production and resource growth. In the first quarter, the company published its fourth NI43-101 technical report which validated over 3.2 million gold equivalent ounces and the “Chute Zone” high grades, bonanza discovery.
Comstock Mining is one of the few junior gold miners exceeding production targets, paying down debt and showing excellent resource growth in a mining friendly jurisdiction. The company is on track to produce 20,000 ounces of gold per year. In the next few years we could expect that number to increase to possibly 150-200 thousand ounces per year.
Disclosure: Author and Interviewer is long Comstock Mining and the company is a sponsor on Goldstocktrades.com
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