From MSNBC News -

Comstock Mining reports Metal shipments in the fourth quarter 2012 totaled $5.4 million The Company commenced full mining activities in August 2012, and began pouring gold and silver in late September 2012. Metal shipments in the fourth quarter 2012 totaled $5.4 million, with gold revenues of $4.5 million and silver revenues of $0.9 million. Silver is accounted for as a by-product credit for financial reporting purposes. The Company is ramping up its production and plans to achieve a sustained production rate of 400 gold-equivalent ounces poured per week, or over 20,000 gold-equivalent ounces per annum. Since pouring commenced, the Company has averaged 223 gold-equivalent ounces poured per week.

In the last three months, modifications and optimizations have been engineered into the Company's mine planning, hauling, crushing and recovery systems. The Company has updated its financial analysis for the Lucerne Mine and anticipates annual operating expenses, including mining, processing, royalties and mine administration costs of approximately $13 million per annum, plus approximately $2.25 million of additional, annual haulage costs, with a production schedule currently processing at the rate of one million tons per annum.

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