The Storey Teller News and commentary on what’s really going on in Storey County.
December 31st marked yet another entry into the string record of losing quarters. This time, Comstock Mining Inc. (LODE) on Thursday reported a loss of $3.9 million in its most recent fourth quarter of 2016.
On a per-share basis, the Virginia City, Nevada-based company said it had a loss of 2 cents. The gold and silver mining company posted revenue of $423,600 in the period. Its adjusted revenue was $424,000. They must have found that $400 ingot they dropped on the way to the bank.
For the year, the company reported that its loss narrowed to $13 million, or 7 cents per share. Revenue was reported as $5.1 million, so the total money spent in the quarter was 18.1 million
The company’s shares closed at 24 cents. A year ago, they were trading at 50 cents. Two years ago it was a buck ten and three years ago Two bucks. While past performance may not reflect future performance, next year at this time we should expect it to be around 12 cents.
As long as there are investors left to mine.
