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Stock Market & Financial Investment News

News Breaks
July 22, 2014
08:13 EDTLODEComstock Mining anticipates doubling rate of ounces produced in 2014
Targets production rate of 40,000 gold equivalent ounces in the latter half of 2014. These increases come with lower costs applicable to mining due to focused cost reduction efforts, as well as lower non-mining operating expenses. Once stabilized at the 40,000 ounce per annum run rate, the operating expenses per ounce mined will be significantly lower. The Company expects cash costs per ounce of gold mined of less than $750 per ounce. The Company updated its financial analysis for the Lucerne Mine and anticipates annual operating expenses, including all mining and processing costs, of less than $25 million per annum, a more than a $6 million reduction over prior year 2013. The Company has also identified $3.5 million of cost reductions in all other non-mining activities, including general, administrative and environmental areas.
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July 7, 2015
08:11 EDTLODEComstock Mining reports preliminary Q2 mining revenue $5.4M, consensus $7.85M
Mining revenue was $5.4M in Q2 as compared to $6.0M in 2Q14. The decrease resulted from lower average gold prices and slightly lower gold ounces produced. Costs applicable to mining revenue were $3.2Min Q2, as compared to $5.5M, net of silver credits, in 2Q14. The 42% decrease resulted from lower labor, fuel and blasting cost and lower strip ratios, resulting in a gross margin of over 41%.

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