Comstock Mining Updates

 

Comstock Mining Inc. [LODE] has found a way to distance itself from the fiasco of the Lucerne Pit. It has offered an even smaller mining company called Tonogold [TNGL] 51% of the project and Tonogold has agreed to pay $200,000 for the privilege of investigating the value of the proposal. It will pay $20 million for controlling interest in what’s left of the Lucerne project if it decides to go ahead.

Interestingly, since the announcement CMI’s share price has fallen to 10 cents — yep, one thin dime in the classic phrase — in its downward drift; [TNGL], which trades Over-the-Counter (OTC) was at 9 cents, immediately jumped up to 15 cents and has since tumbled back down to 10 cents as well.

Nevada Supreme Court, Carson City

Comstock Mining Update – December 12, 2017

Supreme Court Rules for CRA vs. Lyon County and Comstock Mining Inc. Comstock Residents Association won a decision at the Nevada Supreme Court on December 11. One part of the complaint against Lyon County and CMI in District Court was that Silver City et al. were denied due process because ...
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Nevada Supreme Court, Carson City

Comstock Mining Update – November 1, 2017

Bulletin! In his 3rd Quarter conference call, in addition to the usual quarterly loss, Corrado De Gasperis announced a 5 to 1 reverse stock split, to be effective November 10th. This is good news for CMI; not only does it prevent delisting from the NYSE, it provides more room ...
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CMI stock price skids to 14 cents

Comstock Mining Update – June 15, 2017

This Update was prompted by Comstock Mining Inc annual meeting held at the Gold Hill Hotel on June 1. Those of us who live on the Comstock know how rich our communities are in what matters most: friendships, co-operation, love and respect for our neighbors. That’s why CMI’s presence here ...
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New York Mine head frame 2017, Gold Hill Nevada

Comstock Mining Update January 20, 2017

Isn't there a mechanism to rid the New York Stock Exchange of the corpses underfoot? Apparently not, as Comstock Mining Inc [LODE], the gang that couldn't mine straight, has become the corporate equivalent of the Walking Dead. It is lifeless, but lingers on. Bulletin Just as this Update was about ...
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Comstock Mining Inc share prices since July 2016

Comstock Mining Update — October 31, 2016

The rumor dancing eagerly, gladly, euphorically up and down Gold Canyon from Virginia City to Dayton and then back again, is that Comstock Mining Inc is dead. This judgment is uttered as gospel over the bars at C Street Saloons, and accepted as the inevitable outcome by those who have followed the ...
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Comstock Mining Update - July 31, 2016

Comstock Mining Update – July 31, 2016

We failed. For more than five years residents of the Comstock tried to keep an upstart mining company from digging an enormous pit mine in the the Virginia City National Historic Landmark just above Devil's Gate in Gold Canyon. Despite our efforts the pit was dug. But the mine was ...
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Underground portal at the Lucerne Pit, Gold Hill Nevada

Comstock Mining Update — May 24, 2016

Having completed the unprofitable five year fiasco of the Lucerne Pit — with the Grand Finale of collapsing Highway 342 into it — Comstock Mining Inc. (or is it LLC?) laid off most of its employees and went underground where it immediately ran out of money again. And so on December 31 2015 the company announced ...
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CMI stock via nasdaq New Year's Eve 2015

Comstock Mining Update – December 24, 2015

On December 4th Comstock Mining Inc issued a press release headlined: Comstock Mining Completes State Route Realignment Ahead of Schedule In previous years CMI loaded the head frame of the New York Mine with cheap Chinese Christmas lights and has had them up and blazing away even before Halloween. This year ...
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Comstock Mining Update — October 26, 2015

Comstock Mining Update — October 26, 2015

While most attention has been paid recently to the ongoing destruction of the Virginia City National Historic Landmark, another historic Comstock landmark has been severely damaged as well. Having failed to obtain a gaming license, the Delta Saloon has also lost its liquor license. This distinguished gathering place in the heart of ...
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Highway 342 closed at Devil's Gate, Silver City Nevada

Comstock Mining Update – September 30, 2015

Highway 342 Closed Again On September 28 NCOT announced that State Route 342 through Gold Hill will be closed again September 29 through November 12, with periodic lane closures and continuing construction in the roadway shoulder through the end of the year. Through traffic will be detoured to nearby State Route ...
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