Comstock Metals' was recently discussed in an interview with Brien Lundin, editor of Gold Newsletter, and The Gold Report (June 12, 2013). To read the full interview, please click here or see below for an extract from the interview.
The Gold Report: You also watch companies in the Yukon. The latest Yukon gold rush, which started in 2009, brought high expectations that haven't been fulfilled. Can you give us an update? Are there some exploration opportunities that have stood the test of time?
Brien Lundin: When the Yukon erupted with Underworld Resources Inc.'s Golden Saddle discovery, Gold Newsletter was the only publication to recommend Underworld, and we did it before that discovery. It turned out to be a very profitable experience for our readers. Along with a couple of other projects, Golden Saddle really ignited a gold rush in the Yukon.
Along the way, there were some speed bumps. People didn't realize how long it takes to develop prospects and get them to drill-ready status. In that environment, the shortened drill season affects project speed�you can only explore one season a year. As a result, development has taken longer, and it is much more difficult than people had imagined. When you combine the slow project progress in the Yukon with the correction in the junior market, the net result is that some companies that have already made discoveries are selling for fractions of what their ultimate worth will be.
One example of this is Kaminak Gold Corp. (KAM:TSX.V) with its Coffee project. At today's prices, it represents real value. Eventually, I believe it will be taken out at a multiple to today's price.
I'm interested in and have been recommending Comstock Metals Ltd. (CSL:TSX.V) as well. I'm a fairly large shareholder in the company. Comstock's project is interesting for many reasons, including that it may be an extension off the same structure as Underworld's Golden Saddle discovery. It had interesting drill results last year. Comstock is following up with its VG zone this year and, hopefully, will be able to advance some of other targets to drill-ready status before the season is over.
To read The Gold Report interview with Brien Lundin, please click here