Comstock Mining Announces that Google Bought Land at TRIC, Stock Sets New Record.

As reported in Nasdaq’s Global Newswire, Comstock Mining Inc.’s President and CEO Corrado de Gasperis crowed about Lance Gilman’s hard work at nearby TRIC.

“Comstock Mining Inc. (“Comstock” or the “Company”) (NYSE MKT:LODE) announced today, and the Wall Street Journal reported recently, that Google purchased 1,210 acres for $29.1 million at the Tahoe Reno Industrial (“TRI”) Center located in northwestern Nevada. Google will join other landmark companies such as Tesla, Switch, WalMart, Home Depot and many others, that are already investing or have existing operations at the TRI Center, located in the direct vicinity of the Company’s shovel-ready, 98-acre Comstock Industrial Site in Silver Springs, Nevada.

18.89 Million Dollar Loss in 5 short quarters. Impressive!

Corrado De Gasperis, President & CEO of Comstock Mining Inc. said, “Some of the world’s best companies continue to validate, with hard invested money, the competitive advantages and benefits of doing business in northern Nevada, and especially in Storey and Lyon Counties.  We are the second largest landowner in Storey County and we have extensive lands along Highway 50, in Lyon County, Nevada.  Our Comstock industrial Site is the perfect opportunity for companies looking to strategically and easily locate in business-friendly northern Nevada and join a network of global industries that are rapidly advancing their projects. We look forward to Governor Sandoval providing more information about Alphabet-Google and other companies locating here.”

And?

Revenue Down. Losses up. And the beat goes on.

 

Finally, For fun we dissect the glop-laden gibberish in the obligatory about paragraph:

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. (I’m not sure sustaining 28 soon to be 29 straight losing quarters is the type of “sustaining” investors hoped for when they bought at $3.00 a share). The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012 (What does that even mean? They have lots of maps?). The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining (key word: development. as in real estate company). The near term goal of our business plan is to maximize intrinsic stockholder value realized (at .18 cents a share the intrinsic value realized will buy a couple rolls of toilet paper to clean up the mess made by that sentence), per share, by continuing to acquire mineralized and potentially mineralized properties, exploring, developing and validating qualified resources and reserves (proven and probable) (the only thing proven is the vast number of chumps CMI has mined and the intact quarterly losing streak and the probable continuation of the strek) that enable the commercial development of our operations through extended, long-lived mine plans that are economically feasible and socially responsible (I’m not sure the brain transplant candidate who wrote this understands the meaning of the words economically feasible or socially responsible or any of the other words in this nonsensical paragraph. My college English teacher would  have wrapped this around a brick and inserted it in an orifice had I turned this gobbledygook to her).


 

 

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