CEO Interview: Comstock Mining De-Risked, In Production In Nevada

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

The following interview of CEO Corrado De Gasperis of Comstock Mining (LODE) was conducted by phone and email over the week ending March 16th. The views and opinions expressed by Mr. De Gasperis are entirely his own. I, Peter Epstein have no prior or existing relationship with any company named herein.

Please describe Comstock Mining (LODE) to readers not familiar with your story. 

We are a Nevada-based, permitted and producing gold and silver mining company, trading on the NYSE MKT exchange under the symbol LODE.  The Company has already achieved unprecedented results, like consolidating substantially all of the historic, world-class Comstock Lode mining district south of Virginia City, with approximately 8,300 acres (over 10 square miles) along an approximately six-mile long, contiguous mineralized trend. The Comstock Lode district is best known for producing over 8 million ounces of gold and 192 million ounces of silver, primarily in the late 1800’s, including 33 bonanzas, but no one has ever been able to take this massive, fragmented, complex property position with all of its dynamics, and put it under one roof, until now (not to mention permitting it and going into production).

There’s been a lot of local press reports about a road adjacent to your property that needs to be re-routed. Is this a big a deal, will it impact production? 

The road in question is a state route, SR-342, that was built on loose fill and eroded from weather events to the point that it needs to be re-routed.  We will move the road as we were planning on doing anyway, but it will help the State, help the County and accelerate many of our business and reclamation plans.  Classic win-win-win.

Some shareholders feel that production growth has been slower (or even much slower) than expected. Do you agree? 

Yes, we had originally planned for ramping up Lucerne to a 40,000 gold equivalent ounce run rate per annum last year, but those mine plans, and a lower gold price, required us to modify.  We increased our economic cutoff rate and we also invested significant resources on enhancing the geologic controls, resulting in a much more reliable and predictable mine plan.  These cumulative changes initially resulted in much higher strip ratios before we worked through that section of the mine and reached the flatter, lower strip sections of the Lucerne Mine.

1 2 3 4
View single page >> |

Disclosure:  I have no prior or existing relationship with any company listed herein. I may or ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.