Comstock Stock Price, News & Analysis

Comstock Mining Inc. (NYSE: LODE) announced a strategic pivot towards renewable energy, focusing on cellulosic fuels and lithium-ion battery recycling. With advancements in technology, the company aims to utilize underexploited biomass for renewable fuel production, potentially offsetting billions of tons of fossil fuel emissions. The goal is to achieve over $16 billion in revenue by 2030 while reducing greenhouse gas emissions significantly. The company plans to rebrand and is building facilities for these new initiatives, showcasing its commitment to a sustainable future.

Comstock Mining Inc. (NYSE: LODE) submitted comments to the U.S. EPA, calling for enhanced regulations for biomass-derived intermediates in renewable fuel production. Their technologies convert under-utilized woody biomass into carbon-neutral gasoline and other biofuels. Comstock emphasized the potential economic benefits, stating that one million dry tons of biomass can yield significant volumes of ethanol and renewable diesel. They advocate for broader inclusion of biomass resources to support the transition from petroleum and address climate change, while also urging for revisions in the RIN program to promote greater GHG reductions.

Comstock Mining Inc. (NYSE: LODE) announced its subsidiary, LINICO Corporation, received $618,836 in tax abatements from the Nevada Governor’s Office of Economic Development. The tax benefits support LiNiCo's first production facility, which is set to begin operations in H2 2022, with an initial capacity exceeding 35,000 tons/year, and a long-term goal of over 100,000 tons/year. The project aims to create at least 30 jobs and invest $6 million in capital over two years, generating more than $4 million in new tax revenue for Nevada.

Comstock Mining (NYSE: LODE) has increased its ownership in LiNiCo Corporation from approximately 45% to around 90% by acquiring 3,129,081 common shares and 4,075 Series A Preferred shares. This move aims to consolidate control over LiNiCo’s innovative production of electrification products, including lithium carbonate and graphite from recycled batteries. LiNiCo's facility, set for production in late 2022, has a capacity exceeding 100,000 tons per year, catering to the growing demand for electric vehicle (EV) components amid supply challenges.

Comstock Mining Inc. (NYSE: LODE) announced its unaudited financial results for the period ending September 30, 2021, showcasing a net loss of $7.6 million compared to a net income of $18.3 million in the prior year. The company continued its strategic focus on decarbonization by acquiring several clean technology firms, including LINICO Corporation for lithium-ion battery recycling and Plain Sight Innovations for cellulosic fuels, to capitalize on growing global demand. Total assets increased by 149% to $107.4 million, while total debt was extinguished.

Comstock Mining Inc. (NYSE: LODE) will host a conference call on November 10, 2021, at 8:00 AM PST to discuss its Third Quarter results and provide a business update. Participants are encouraged to join 10-15 minutes early. The call will feature a moderated Q&A session following the presentation. The webcast will be accessible with pre-registration, and a recording will be available within 48 hours post-call on the company's website. Comstock focuses on sustainable extraction of natural resources essential for clean energy.

Comstock Mining (NYSE: LODE) announced its participation in the LD Micro Main Event in Los Angeles on October 13, 2021, at noon PDT. CEO Corrado De Gasperis emphasized the company's transformation through recent acquisitions, focusing on the growing demand for natural resources essential for clean energy and carbon neutrality. Key achievements include debt elimination, asset tripling, and strengthened management for growth. Interested individuals can register for the virtual event here.

Comstock Mining Inc. (NYSE: LODE) has announced the commencement of full operations for its joint venture with Mercury Clean Up LLC, Clean Mercury Remediation Technologies (CMRT), at the first commercial mercury remediation system in Davao D’ Oro, Philippines. This venture aims to remediate mercury contamination and restore the local ecosystem while generating pre-tax operating income through the remediation process. Executive Chairman Corrado DeGasperis emphasized plans for sustained growth and future expansion following the facility's positive cash flow.

Comstock Mining Inc. (NYSE: LODE) announced its acquisition of Plain Sight Innovations Corporation (PSI) for 8,500,000 restricted shares and a performance-based cash payment linked to future net cash flow, potentially reaching $18 million. PSI specializes in converting low-cost woody biomass into cellulosic ethanol and co-products like biographite. Their Wisconsin facility aims to generate over $86 million in annual revenues within the first operational year, scaling to $346 million by year three. This acquisition positions Comstock to enhance its clean technology portfolio and capitalize on the fast-growing renewable fuels market.