Comstock Mining, Inc. (NYSE MKT:LODE) Q2 2020 Earnings Conference Call - Final Transcript
Jul 28, 2020 • 11:00 am ET
Corrado De Gasperis
describing it having, third parties like Mark Reichman provide some objective view of it, is all very, very, very important, right? And the more we have -- can do that and then the clearer we can be, the better. But ultimately, the technical reports that validate the geology, that validate the economic assessments are huge -- are a huge prerequisite, a huge engine to getting to those higher values.
So yes, absolutely, that's our intention. That's what is in the pipeline and that we're moving towards. With MCU, you'll have less technical report and more cash flow, right? So cash flow is the best thing. And in the absence of cash flow, someone else opining on what the cash flow should be is the second best thing, and that's what a PEA and ultimately, a prefeasibility and ultimately, full feasibilities give you. So we're being very disciplined on that approach. I think Tono is very disciplined on that approach, less promotional, more substance.
And then when -- and when -- and I think this is a very big thing. I don't think anyone appreciates how big it is yet. I don't think the Canadian investors even care, right, because they've already got their platform. But the Canadian capital markets are a pimple on the ass of the U.S. capital markets, okay? So when the U.S. modernizes its disclosure requirements for miners, and we can start disclosing in our 10-Ks, 10-Qs, S-1s, 8-Ks, resource estimates, you're now going to have the interest of an exponentially greater capital market base. And some people can say, yes, but not so true. Canadians can invest in the U.S., Americans can invest in Canada. Yes, you can say that, but it's not correct, right? There's a reason that Toronto has the largest share of mining stocks registered there. And it's because their disclosure requirements are better, and that's about to change.
So I don't know, maybe it won't make an impact on the Barricks and Newmonts of the world, but it sure as hell will make impacts on junior miners. So I think we're standing to benefit here greatly from better local disclosure and that we're going to be -- we're going to take the lead on that.
And do you still expect to release some numbers regarding the resource estimates this quarter? Or do you think it might be in the...
Corrado De Gasperis
No, I think it will be this year. It will be this year. I think we're not far off, right? But I think with the S-K 1300 rules being new, we already started dialogue with Behre Dolbear on exactly how they're going to do it, right? They haven't done it yet, right? So I think that will have an impact a little bit on our timing. But we'll be out, hopefully, sooner rather than later, but certainly, before the end of this year. Casey, I think that's it. Great call, great facilitation. I guess we could wrap it up.
[Operator Closing Remarks]