Comstock Metals (TSXV:CSL, OTC:CMMMF) was featured in an article by Caesars Report. The article covered Comstock’s 2018 year and the changes that happened in terms of management, assets, partnerships and cash flow, before delving into the company’s plans for 2019.
Comstock Metals (TSXV:CSL, OTC:CMMMF) was featured in an article by Caesars Report. The article covered Comstock’s 2018 year and the changes that happened in terms of management, assets, partnerships and cash flow, before delving into the company’s plans for 2019. Comstock made some changes to its management team to its management team this year. CEO David Terry left the company and director Steven Goldman has been named interim-CEO for one year.
Since taking over, Goldman has sold two non-core properties: the Old Cabin project in Ontario and the Corona project in Mexico. These two properties were not of a high priority for the company and Comstock will retain its 0.5 percent net smelter royalty on the Corona project. The sale of the two properties brought in C$96,000 and US$164,000, respectively. Additionally, Comstock purchased the Rawhide cobalt-silver property in Ontario’s cobalt camp, which according to the article may be a main focus for the company in 2019.
In addition to the changes in assets, Comstock invested $400,000 in E3 Metals Corp. (TSXV:ETMC) for a five percent stake in the company and also became a joint venture partner. Additionally, Goldman is now a strategic advisor for E3 Metals. The article explains that this partnership and investment could provide an interesting opportunity in E3 Metal’s petro-lithium project in the Leduc Reservoir, Alberta. The project has the potential of being the fifth largest lithium deposit in the world, if E3 Metals is able to prove that there are 6.7 million tons of lithium carbonate to be found on the property.
The article finishes off by stating that Comstock’s Preview SW North zone, Rawhide cobalt-silver property and QV Gold projects will continue to be a priority for the company. To date, Comstock has not released its exploration plans for 2019.
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