By Suzanne Featherston August 1, 2017
VIRGINIA CITY – Comstock Mining, the Nevada-based company that owns the property in the historic Comstock District near Reno, reported record-low costs and hinted at upcoming strategic ventures in third quarter results released Aug. 1.
The news comes in the wake of the company’s refinancing in January, followed by a year of activities designed to “enhance liquidity, accelerate mining activities and strengthen and grow land position and reduce costs,” said Corrado De Gasperis, executive chairman and CEO of Comstock Mining, in a news release.
With general and administrative costs down to $1.6 million, a cash balance of $1 million and long-term debt at $11.4 million, the company is proceeding cautiously.
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