Since 2003 Comstock Mining Inc. and its subsidiaries own or control approximately 9,358 acres of mining claims and parcels in the broader Comstock District and surrounding area (formerly known as the historic world renowned Comstock Lode). The company consolidated a substantial portion of the historic Comstock District, secured permits, built an infrastructure, brought exploration projects into production, and completed major reclamations with distinction, establishing a social and legal license for growth.
During 2019, the Company completed its realignment, such that the corporate structure supports the Strategic Focus. Comstock Mining Inc. remains as the parent company that wholly owns the realigned subsidiaries, with the exception of fifty percent owned Comstock Mining LLC. Comstock Mining LLC, the subject of a Membership Interest Purchase Agreement with Tonogold, owns or controls the Lucerne properties, including those contained in the Northern Comstock Joint Venture. Comstock Processing LLC owns the American Flat processing facility and additional land for potential expansion. Comstock Northern Exploration LLC owns or controls the remaining Storey County mining claims and exploration targets, primarily located north of the Lucerne properties, including the Gold Hill targets and the Occidental Lode. Comstock Exploration & Development LLC owns or controls the Lyon County mining claims and exploration targets, including the Dayton Resource Area and the Spring Valley target. Comstock Industrial LLC owns the Silver Springs properties and water rights. Comstock Real Estate Inc. owns the Daney Ranch and the Gold Hill Hotel assets.
The acreage includes approximately 2,396 acres of patented claims and surface parcels (private lands) and approximately 6,962 acres of unpatented mining claims (public lands), which the Bureau of Land Management (“BLM”) administers.
We have amassed a large library of historical data and detailed surface mapping of Comstock District properties and continue to obtain historic information from private and public sources. We integrate this data with information obtained from our recent mining operations, to target geological prospective exploration areas and plan exploratory drilling programs, including expanded surface and underground drilling.
Comstock Mining continues evaluating and acquiring properties, expanding its footprint, and evaluating all of our existing and prospective opportunities for further development and profitable growth. The near-term goal of our business plan is to maximize intrinsic stockholder value realized, per share, by continuing to assess, acquire and develop properties, exploring, developing and validating qualified resources (measured, indicated and inferred) and reserves (proven and probable) and enabling the commercial development of all our properties both through extended, long-lived mine plans that are economically feasible and socially responsible, as well as other feasible and responsible development opportunities.