Comstock just sold their QV gold project to White Gold.
$375k - cash on closing
1,500,000 mil - shares in hand of White - Gold which is trading @ $1.20
375k warrants of White gold
My Thoughts ? Keep the White Gold Warrants and cash out the 1,500,000 White Gold shares.
Question is ? Will Comstock cash out - 1,500,000 shares of white gold to cash up it's treasury ?
If it did...it would swell the treasury with an additional = $1,800,000.00 mil @ present $1.20
Over and above the $350k.
Conditions of White Gold's Stock - There's a hold period expiring on, June 29 2019.
Just around the corner...not too long of a wait - and Comstock could sell some of White Gold stock.
Ohhh...Goody...!
All securities issued and issuable in connection with the Acquisition are subject to a statutory hold period expiring on June 29, 2019. In addition, the Subject Shares are subject to a voluntary hold period pursuant to which (i) 35% of the Subject Shares shall be released on the date which is four months following the Closing Date; (ii) 35% of the Subject Shares shall be released on the date which is eight months following the Closing Date; and (iii) the balance of the Subject Shares shall be released on the date which is twelve months following the Closing Date. Read more at https://stockhouse.com/news/press-releases/2019/03/01/white-gold-corp-closes-acquisition-of-qv-gold-project-includes-230-000-oz-gold#lTkYvOteB5XyilLp.99 SASKATCHEWAN GOLD - ( Canada's " other gold zone ) Comstock's... advancing the southern side of Preview lake...
Mas Gold... Is advancing the north side of, Preview lake...
MAS Gold is trading @ .09 cents
Yet... Comstock has proved up more gold ounces.
Comstock's Map ( south side of Preview Lake )
Click Image To View Full Size
COMSTOCK'S - RECENT GOLD RESULTS - 23.6 m averaging 3.60 g/t gold in PR18-187 starting at 50.40 m down hole and including 2.10 m averaging 13.85 g/t gold starting at 64.40 m down hole
- 8.00 m averaging 7.47 g/t gold in PR18-187 starting at 31.00 m down hole and including 0.75 m averaging 74.6 g/t gold starting at 33.00 m down hole
- 5.20 m averaging 5.30 g/t gold in PR18-183 starting at 113.80 m down hole and including 3.30 m averaging 8.04 g/t gold starting at 115.70 m down hole
- 21.50 m averaging 2.87 g/t gold in PR18-185 starting at 23.00 m down hole and including 3.25 m averaging 10.35 g/t gold starting at 36.75 m down hole
Read more at https://stockhouse.com/news/press-releases/2019/01/31/comstock-advances-preview-sw-gold-project-drilling-23-6-m-averaging-3-60-g-t#HuLHLCL30vjulk3E.99 Shallow intercepts = Near surface Gold easier to mine.
Quality intercepts = makes for potential nice widths.
Respectable Gold Grams = Stacks and Racks the ounces all the faster.
HOW MUCH GOLD HAS COMSTOCK FOUND ? - Indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) based on a 0.50 g/t Au cut-off grade.
- Inferred resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au) based on a 0.50 g/t Au cut-off grade.
The main Preview SW deposit is comprised of several sub-parallel northeast-trending gold-bearing quartz-sulphide mineralized structural zones, 500 m in strike length and totaling 150 m in width. Preliminary metallurgical test work indicates total gold recovery in concentrates ranged from 90% to 93%1.
MORE COMSTOCK - DRILL INTERCEPTS - ( very nice meter intercepts + gold grams ) Significant weighted average intercepts are presented in Table 1. Hole locations are shown on Map 1 and Section 1, Section 2 and Section 3.
Table 1: Weighted Average Intercepts from PR18-183, -184, -185, and -187
| Hole ID | From (m) | To (m) | Interval (m)* | Au (g/t) |
| PR18-183 | 69.50 | 72.15 | 2.65 | 4.60 |
| Including | 70.65 | 72.15 | 1.50 | 7.89 |
| PR18-183 | 88.00 | 100.50 | 12.50 | 0.75 |
| Including | 88.00 | 90.00 | 2.00 | 1.51 |
| And | 95.00 | 99.00 | 4.00 | 1.38 |
| PR18-183 | 113.80 | 119.00 | 5.20 | 5.30 |
| Including | 115.70 | 119.00 | 3.30 | 8.04 |
| PR18-184 | 93.00 | 101.90 | 8.90 | 0.92 |
| including | 93.00 | 95.50 | 2.50 | 2.00 |
| PR18-184 | 136.50 | 138.00 | 1.50 | 1.85 |
| PR18-185 | 23.00 | 44.50 | 21.50 | 2.87 |
| Including | 27.80 | 28.70 | 0.90 | 10.25 |
| And | 36.75 | 40.00 | 3.25 | 10.35 |
| PR18-187 | 18.50 | 27.50 | 9.00 | 2.76 |
| Including | 19.50 | 20.50 | 1.00 | 15.33 |
| And | 24.50 | 26.50 | 2.00 | 4.00 |
| PR18-187 | 31.00 | 39.00 | 8.00 | 7.47 |
| Including | 33.00 | 33.75 | 0.75 | 74.6 |
| PR18-187 | 50.40 | 74.00 | 23.60 | 3.60 |
| Including | 54.00 | 59.25 | 5.25 | 5.49 |
| And | 64.40 | 66.50 | 2.10 | 13.85 |
* Intervals listed are for core length. True thickness is interpreted to be 50-60% for PR18-183 and PR18-184; and 70-80% of core length for holes PR18-185 and PR18-187.
Read more at https://stockhouse.com/news/press-releases/2019/01/31/comstock-advances-preview-sw-gold-project-drilling-23-6-m-averaging-3-60-g-t#HuLHLCL30vjulk3E.99 ANYONE NOTICE ABOVE - MAP - SHOWS DRILLING ON LAND ?
Appears Comstock does drill on land vs winter drill programs which lends the aspect of,
Drilling on lake ice...Interesting....
Which means,
Could COMSTOCK assemble a summer dril program ?
Why not..?
CASH OUT OF....
E-3 metals = even more $$$$ to fatten the CSL treasury.
NO PP NEEDED = NO DILUTION....MY KIND OF STOCK...lol
Ask E-3"for a - royalty license to find E-3 metals clients
( far more advantageous = $$$ opportunity = than holding a few shares )
Drop the Cobalt dreams...Place the Uranium claims on hold...
And catch the summer Gold Train...
With two ( eyes ) focused on Preview... Perform a much larger drill camapign to aim for over 500k ounces in the indicated + measured.
And place Comstock on the SASKATCHEWAN - GOLD MAP...
MOST INVESTORS KNOW ABOUT THE " GOLDEN TRIANGLE " + QUEBC'S GREENSTONE BELT
WHY NOT SASKATCHEWAN PREVIEW LAKE GOLD TREND.... SHALLOW GOLD
VERY NICE GOLD GRAMS
DECENT DRILL INTERCEPTS
As per QV claims sold to White Gold...
Not too sure if Comstock's retains a net smelter royalty...? If Comstock does retain a net smelter royalty = ANOTHER BONUS.
It does mention a royalty in the press release but...still not sure if its assigned to Comstock
Whereas, Comstock would have even more $$$$ coming in based on White Gold mining the gold.
If someone knows more about this...please do ( offer more insight ).
If any of my info is incorrect... Please do chime in to correct.
Thank you in advance.
Wango~