Comstock Mining Reports Results from First Month’s Operations

Comstock Mining Inc. (NYSE:LODE) announced its results from the first month of production, covering the period  from September 29th, 2012 to October 29th, 2012.

As quoted in the press release:

During this time, the Company has shipped 1,231.3 ounces of gold and 14,440.3 ounces of silver. In addition, the Company delivered 27.9 ounces of gold and 292.0 ounces of silver to the Northwest Territorial Mint to facilitate the minting of the commemorative bar celebrating the first pour. Combined, the metal sales generated (received payments and payments due on gold and silver) in excess of $2.5 million.

Comstock Mining’s President and CEO, Corrado De Gasperis, said:

We are pleased with our production start-up and the performance during this first month of pouring gold and silver. We continue stabilizing the system for reliability, speed and predictable cash generation. The initial throughput rates are very encouraging as we work up toward a rate of 20,000 gold equivalent ounces on an annualized production run rate.

To view the whole press release, click here.