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Comstock to Present at the LD Micro Invitational XI Investor Conference
VIRGINIA CITY, Nev., June 08, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, will present at the 2021 LD Micro Invitational XI Investor Conference on Wednesday, June 9, 2021.
Presentation details:
Date: Wednesday, June 9, 2021
Time: 10:30-11:00am EDT
Investors can register for the conference HERE.
https://ldmicrojune2021.mysequire.com/
About Comstock Mining Inc.
Comstock (NYSE: LODE) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.
Comstock is also set to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4, 2021. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
About 2021 LD Micro Invitational XI
LD Micro is the host of the most influential conferences in the small-cap world. This Invitational, in particular, is unique as Day One celebrates the Hall of Fame, highlighting some of the top performers since LD’s inception in 2008. Day Two and Three focus on newcomers and companies on the “cusp” of doing big things. Welcome aboard this incredible glimpse into an incredibly bright future.
https://ldmicrojune2021.mysequire.com/
Comstock Set to Join Russell Microcap® Index
VIRGINIA CITY, Nev., June 07, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that it is set to join the Russell Microcap Index at the conclusion of the 2021 Russell Microcap Index’s annual reconstitution, effective after the US market opens on June 28, 2021, according to the preliminary list of additions posted June 4, 2021. Membership in the Russell Microcap® Index means automatic inclusion in the appropriate growth and value indexes. FTSE Russell determines membership for its indices primarily by objective, market-capitalization rankings and style attributes.
Mr. Corrado De Gasperis, Comstock’s Executive Chairman and CEO stated, “The inclusion in the Russell Microcap Index recognizes our value growth and positions our capital base for the next phase of our growth. Our leadership in innovation and the sustainable extraction, valorization, and production of clean, renewable natural resources continues to gain recognition, including now with Russell, and we and our shareholders are grateful for this new association.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Russell Microcap Index - page 5 woot woot
https://content.ftserussell.com/sites/default/files/russell_microcap_additions_-_2021.pdf
The institutions have been loading up and my guess is there is heightened anticipation. It may be too soon but we’ll see what Corrado has to say in the way of updates.
The infrastructure plan is calling for 174 billion for EV and battery manufaturers. Might play a part in the pop. Jmo.
Within the next 6 mo, maybe
The link to the conference call is at the bottom of that phenominal Q pr.
Comstock Announces First Quarter 2021 Results; Strong Financial Position; Continued Climate Smart Mining and Valorization to Clean Energy Transition
VIRGINIA CITY, Nev., May 12, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) today announced selected unaudited financial results for the fiscal quarter ended March 31, 2021.
First Quarter 2021 Selected Strategic Highlights
Launched the first MCU commercial mercury remediation and extraction system in the Philippines;
Acquired direct majority equity stake rights in LINICO Corporation, a lithium-ion battery recycling company;
Secured a State-of-the-Art battery recycling facility and commenced permitting;
Selected Renewal Process Solutions (“RPS”) as manufacturer of our “Crushing to Black Mass” system;
Strengthened our technical, mercury, hazardous waste, environmental and engineering organization; and
Participated in the Adelaide Capital Battery Metals Charity Pitch Battle with fifteen other battery metals companies and was voted by investors and participants as the number one (winner!) presentation.
Unaudited First Quarter 2021 Selected Financial Highlights
Total operating costs were a $0.3 million credit in Q1 2021, a $1.6 million, or 127%, decrease from the prior year quarter, due to lower mining and mine claim costs driven by a $0.8 million reduction in our reclamation liability estimate of and an accelerated $0.8 million Tonogold reimbursement benefit;
Other income was $7.8 million in Q1 2021, a $6.8 million, or 676%, increase from the prior year quarter, principally resulting from a new derivative asset related to the investment in LINICO;
Net income was $8.2 million, or $0.22 per common share, for the quarter ended March 31, 2021, as compared to a net loss of $0.3 million, or $(0.01) per common share, for the quarter ended March 31, 2020;
Total assets increased to $70.0 million in Q1 2021, a 63% increase from year end 2020, driven by $17.0 million in equity raises, new investments in LINICO, and increases in notes receivable and advances;
Total debt decreased to $0, a 100% decrease from year end 2020, as all debt obligations were extinguished;
Cash and cash equivalents at March 31, 2021, were $10.3 million; and
Common shares outstanding at March 31, 2021, were 42,455,515.
Mr. De Gasperis stated, “We have completed a remarkable transformation of our balance sheet, begun increasing our engineering and technical competencies, completely repositioned into growth assets, with more to come, and aligned compensation organizationally with our shareholders. If we do not deliver, we do not vest, it’s that simple.”
Climate Smart Mining and Valorization to Clean Energy Transition
Comstock Secures Majority Stake in LiNiCo; Indirect Stake in Green Li-ion
During the quarter, Comstock announced transactions securing majority equity stake rights in LINICO Corporation (“LiNiCo”), a lithium-ion battery (“LIB”) recycling company that recently acquired a state-of-the-art battery metal recycling facility located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada. The Company will pay up to $4,500,000 in cash and delivered 3,000,000 restricted common shares during Q1 2021, representing up to $10,750,000 in consideration and other non-cash commitments for up to 64% ownership of LiNiCo.
LiNiCo has used a portion of these proceeds to increase its direct strategic investment in Green Li-ion Pte, Ltd. (“Green Li-ion”) to more than 20%, secure a state-of-the-art battery metal recycling facility, and purchase proprietary process equipment enabling the production of black mass and ultimately metal-based solutions, including but not limited to, lithium carbonate and cathodes in the U.S. The new facility was designed and well situated to, receive, crush, and separate battery materials into black mass. LiNiCo plans to convert black mass into rejuvenated, high purity, battery grade metals and ultimately pure cathodes faster than conventional solutions.
LiNiCo has commenced securing permits, feedstock arrangements and engineering the crushing, separation and metal and cathode processing systems, with proprietary processes for producing battery grade metals and ultimately cathode materials. LiNiCo plans on commencing production early next year.
Mercury Clean Up, LLC (“MCU”) and the Launch of MCU Philippines, Inc. (“MCU-P”) Operations
During 2019, the Company entered into a Mercury Remediation Pilot, Investment and Joint Venture Agreement (the “MCU Agreement”) with MCU. Pursuant to the MCU Agreement, the Company paid $2 million of capital contributions in exchange for 15% of the fully-diluted membership interests of MCU. The Company also has 50% fully-diluted share holdings in MCU-P, the first international mercury remediation joint venture in the Philippines that officially commenced processing during the first quarter of 2021, in the province of Davao D’ Oro, Philippines, with full political and regulatory support of the eco-system-wide mercury clean up.
The Company has exercised its rights to coordinate up to $3 million in secured financing for MCU-P, and recently completed the first $2 million of secured loans to MCU-P, simultaneously earning another 10% of MCU (for a total of 25%), resulting in the Company securing its rights to 62.5% of the economics for all projects.
Mr. De Gasperis continued, “We are facing the inevitabilities of the ‘perfect storm’ of demand from the world-wide transition to clean energy and increasing demand on these increasingly scarce natural resources. We are currently evaluating several very exciting ESG and nature-based, highly accretive, valorization projects and investments.”
Gold and Silver Developments
Dayton and Spring Valley Gold and Silver Mineral Property Development
During the first quarter, the Company received the results from the Geotech Ltd. ("Geotech") airborne geophysical survey of the Dayton resource area, Spring Valley exploration targets, and the rest of the Comstock properties. The survey included both magnetic and Geotech's proprietary Versatile Time-Domain Electromagnetic ("VTEM") surveys. The results have already greatly increased the Company’s understanding of the Dayton and Spring Valley resource expansion potential, along with the Company’s other exploration targets in Lyon and Storey Counties.
The Dayton is the Company’s top exploration and development target. Our geology team has now completed the updates of the interpretive model of the entire Dayton area. Our technical team has now commenced updating and generating a new gold and silver resource estimate based on a standalone, S-K 1300, technical report summary. This technical report will include additional drilling recommendations and technical development plans and will deliver an updated resource estimate which represents a critical prerequisite step toward an economic feasibility report. The Company will profile its specific exploration drill programs for the Dayton-Spring Valley complex.
Occidental Lode Mineral Property Development
The Company has a growing portfolio of NSR Royalties on the northern Comstock mineral properties, including the Lucerne and Occidental claims. Tonogold Resources, Inc. (“Tonogold”) is preparing a technical report with resource estimates for the Lucerne and ongoing developments for the Occidental. On May 4, 2021, Tonogold announced the results of three, near surface, reverse circulation (RC) holes completed on the southern portion of the Occidental Lode trend, as summarized below:
Hole No. From (m) To (m) Length (m) Au (g/t) Ag (g/t)
TC-006 35.05 38.10 3.05 0.485 1.0
and 65.53 80.77 15.24 1.596 14.0
including 73.15 77.72 4.57 3.012 25.9
and 92.97 96.01 3.05 1.009 7.6
TC-007 25.91 47.24 21.34 3.226 15.7
including 25.91 33.53 7.62 7.238 26.9
and 59.44 64.01 4.57 0.472 1.9
TC-008 0.00 18.29 18.29 1.458 4.4
including 3.05 7.62 4.57 2.770 3.5
Tonogold has publicly reported that it has completed five holes in the Occidental, two core and three RC holes.
Tonogold has also announced its intention to mobilize an additional RC drill rig to the southern Occidental target area and plans to have the RC drill in operation by mid-May 2021. The rig will support its proposed drill program for the target area that envisions an additional 23 holes, totaling approximately 2,400 meters. Six of the 23 holes will test the down dip extension of known mineralization below prior drilling levels.
Tonogold plans on using the results of the Occidental drill program to generate another preliminary resource estimate. In conjunction with the development of a resource estimate, exploration is planned to the north along the Occidental Lode, where Tonogold controls and the Company retains royalties on more than three uninterrupted kilometers of the Lode's strike.
Outlook Moving Forward
The Company’s strategic plan is designed to deliver significant shareholder value during the next three years. The plan objectives include operating and growing existing and new Environmental, Social and Corporate Governance (“ESG”) driven projects, including MCU and LiNiCo, while monetizing more than $20 million in additional non-strategic assets, and funding this new growth. The specific objectives are shown below.
Specific Performance Objectives for Existing Projects
Commercialize a global, ESG-compliant, profitable, mercury remediation and other critical mineral systems:
• Establish the technical efficacy of MCU’s Comstock Mercury System, and protect the intellectual property;
• Deploy and operate the first international mercury remediation project by deploying MCU’s first, second and at least third mercury remediation systems into the Philippines;
• Identify, evaluate and prioritize a pipeline of potential mercury remediation projects; then deploy the third and fourth mercury remediation projects, producing extended, superior cash flow returns; and,
• Assess and acquire accretive, ESG-based, strategic expansion opportunities.
Establish and grow the value of our mineral properties:
• Establish the Dayton Resource area’s maiden, stand-alone mineral resource estimate;
• Expand the Dayton-Spring Valley Complex through exploration drilling and geophysical modelling;
• Develop the expanded Dayton-SV Complex toward full economic feasibility, supporting a decision to mine;
• Entitle the Dayton-SV Complex with geotechnical, metallurgical, environmental studies and permitting; and,
• Validate the Comstock NSR Royalty portfolio (e.g., Lucerne Mine, Occidental Lode, Comstock Lode).
Monetize non-strategic assets and build a quality organization:
• Monetize our third-party, junior mining securities responsibly, for $12.5 million or more;
• Monetize our non-mining assets for $12.5 million, excluding the Gold Hill Hotel;
• Grow the value of our Opportunity Zone investments to over $30 million; and,
• Deploy a systemic organization, capable of accelerating growth and handling complexity.
Mr. De Gasperis emphasized, “We have directly linked these strategic performance objectives with our goal of delivering $500 million in shareholder value (or at least $12 per share), and then aligned all of our people with 100% performance-based, stock-based compensation based on both delivering these objectives and achieving at least that amount of value to our shareholders. Again, when our shareholders are rewarded, so are we. We continue building the organizational competencies, especially in chemical engineering, in lithium-ion battery recycling, mercury remediation, and other solvent extraction and processing technologies for our valorization objectives.”
Systemic organization, capable of accelerating growth and handling complexity
“We have expanded our team to build stakeholder value with transformative, high value, high impact, climate smart mining and valorization projects, in large part to meet rapidly escalating demand for the increasingly scarce metals and other raw materials needed to fuel the global transition to clean energy,” stated Corrado De Gasperis, Executive Chairman and CEO. “We have seasoned professionals, chemists, material scientists and engineers engaged and focused on one singular aligned goal, that is, growing per share value by commercializing environment-enhancing, natural-resource based processes and products that generate predictable cash flows (“Throughput”) that delivers $500 million of equity value (that is, at least $12 per share) from our Nevada-based platform. This system and our professionals will all be on hand at the 2021 Annual General Meeting (AGM) on June 3, 2021. Please be there.”
On March 4, 2021, the Company closed on a $16 million registered direct sale of 4 million common shares at a price of $4.00 per share. Net proceeds were approximately $15 million, after commissions and expenses. On March 5, 2021, the Company extinguished all of its debt obligations totaling $3.6 million, immediately saving more than $0.3 million in annual interest expense. The Company now has 42,455,515 common shares outstanding, including the 4 million shares sold in the offering, and the 3 million restricted shares issued in the LiNiCo acquisition.
On April 1, 2021, the Company made a loan to Plain Sight Innovations LLC ("PSI") pursuant to a secured promissory note with a face value of $750,000 (the "PSI Note"). The PSI Note principal, together with interest at the rate of 12% per annum, is due and payable on September 30, 2021, and is secured by substantially all of the assets of PSI. The Company is currently collaborating with PSI and RPS on a number of material science advancements associated with lithium-ion battery storing, crushing, and black mass processing, among others.
Conference Call
The Company will host a conference call today, May 12, 2021, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time. The live call will include a moderated Q&A, after the prepared comments by the Company. The Webinar will include a moderated Q&A, after the prepared remarks. Please join the event 10 to 15 minutes prior to the scheduled start time. The link and/or dial-in telephone numbers for the live Webcast are as follows:
Join Our Zoom Webinar
When: May 12, 2021 08:00 AM Pacific Time (US and Canada)
Topic: Comstock Mining First Quarter 2021 Results
Please click the link below to join the webinar:
https://us02web.zoom.us/j/84038612204
Or One tap mobile:
US: +12532158782,,84038612204#
Or Telephone:
US: +1 669 900 9128 or +1 646 558 8656
Webinar ID: 840 3861 2204
International numbers available: https://us02web.zoom.us/u/kQGUDK9Zg
The recording of the Webinar will be available, within 48 hours of the call, on the Company website:
http://www.comstockmining.com/investors/investor-library
That explains the price. Are they done and is there another involved are the questions for me.
You can re-watch the presentation here:
I still have some. It helps keep my avgerage low.
“ Our strategic focus is consequently expanding to include the extraction and valorization of a portfolio of critical and inevitably scarce materials, with an initial preference for high cash throughput generators that complement our existing competencies and operations. We are evaluating several potential transactions and investment opportunities, the first of which we hope to close this during this quarter.”
Adelaide Capital - Comstock Mining Inc. (NYSE: LODE) Investor Webinar Apr 13, 2021 02:00 PM EST (US and Canada)
Our reward for winning the battery metals pitch battle.
https://us02web.zoom.us/webinar/register/WN_HD435z5nQuCIwd4TTS8K5w
Perfect. Thank you!
Do you know off hand who handles the carson river superfund?
I gave it some thought and decided to delete my post to the article. I realized it was too vague and more of a reflection of my personal bias towards the company than anything. Though it reflected intended government policy, it could not be consided as something material to the company’s efforts. My apologies offered instead.
Comstock Announces the Addition of Alexia Sober to Its Management Team; Enhances Its Environmental, Social, and Corporate Governance Program
VIRGINIA CITY, Nev., March 30, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) ("Comstock" and the "Company") announced today the addition of Ms. Alexia Sober as its Mercury Market and Grant Manager. Additionally, Ms. Sober is an active Board Member of the Comstock Foundation for History and Culture and serves as an appointed Storey County Planning Commissioner.
Ms. Sober brings extensive environmental and sustainability experience to Comstock. Ms. Sober has more than 15 years of collective experience in Policy Research and Compliance, Mining and Historical Archaeology, Collections Management and Curation, Entrepreneurship, Public Educational Outreach and Programming, as well as Community Organizing. She holds a Bachelor of Arts degree in Anthropology from the University of Nevada, Reno, with honors, with an emphasis in Historical Archaeology and Museum Studies.
Mr. Corrado De Gasperis, Executive Chairman and CEO, said, "We are very pleased to welcome Alexia Sober to Comstock's management team. Her mining industry and historical archaeology experience makes her a valuable and productive addition to our company and our stakeholders, especially as we implement our environment enhancing projects focused on scarce strategic precious metals and commercialize our environment-enhancing, clean mercury technologies."
Prior to joining Comstock, Ms. Sober has held roles as a pioneer for internships, curriculum implementation, collections management, tour guide, and educational program director among other duties, at the Nevada State Museum, as the Assistant to the Curator of Education. As an Abandoned Mine Lands Archaeologist for Federal Lands and CERCLA Superfund sites, she assessed cultural and hazardous features for treatment recommendations following federal compliance protocols and presented safety awareness and assessment practices in public and peer forums. She also held roles as the Assistant Director at St. Mary's Art Center in historic Virginia City, Nevada, Owner, and Operator of two successful restaurants, and Research Associate at the University of Nevada, Reno.
Mr. De Gasperis, concluded, "Ms. Sober's background stems from the driving principle that active community involvement and education play a critical role in long-term resource sustainability and historic preservation. She has founded community organizations and created educational curriculum to cultivate inclusive access to broaden the knowledge base for all stakeholders."
As I mentioned last night, Corrado was in it to win it! The rebroadcast of the battle is now available. Here is the link to Comstock’s website that has a blurb about it and the link to the youtube vid is inside.
https://www.comstockmining.com/latest-developments/comstock-wins-adelaide-capital-charity-battery-metals-pitch-battle/
Comstock Announces 2021 Annual Meeting of Shareholders and Record Date
VIRGINIA CITY, Nev., March 25, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced that the 2021 Annual Meeting of Shareholders is scheduled for Thursday, June 3, 2021, at the historic Gold Hill Hotel in Gold Hill, Nevada. The meeting will begin at 9:00 a.m. Pacific Time and will include an update on the Company’s corporate portfolio, geological developments and clean energy technologies.
The 2021 Annual Meeting schedule for June 3, 2021, is as follows:
8:00 am - 9:00 am Continental Breakfast
9:00 am - 12:00 pm 2021 Annual Shareholders Meeting, Company Presentations, Q & A
12:00 pm - 1:00 pm Lunch will be served at the Gold Hill Hotel following the meeting
1:00 pm - 4:00 pm Portfolio Investment Showcases (Comstock LODE, LiNiCo, MCU, Sierra Springs, etc.)
For the convenience of Shareholders, they may view the Annual Meeting live via a webcast. The link for the webcast will be included in shareholder materials as well as posted on our website in the investors section.
Due to COVID-19 guidelines set by the State of Nevada and Storey County, seating is limited for Shareholders and is based on a first-come, first-served basis by registering at the Company website:
https://www.comstockmining.com/investors/asm2021/
The record date for the Annual Meeting is April 6, 2021. Only shareholders of record at the close of business on April 6, 2021, may vote at the meeting. The Company’s proxy statement will be sent to shareholders of record and will describe the matters to be voted upon.
http://www.globenewswire.com/news-release/2021/03/26/2199813/0/en/Comstock-Announces-2021-Annual-Meeting-of-Shareholders-and-Record-Date.html
Btw, Corrado won the Adelaide Capital pitch battle for battery metals. As the winner, we get slotted for a free 1 hour presentation. Nice to see our votes helped with the cause. Great exposure and congratulations to Corrado and Lode for another job well done!
Better opinion
Probably a mention of Lode in an interview by a founder of r/wallstreetsilver in a Kitco vid. It got picked up by TD’s news feed, maybe more. Followed by a somewhat stale PR on the Philipines MCU grand opening. I say stale only because there were facebook posts already circulating about it last week, which in my opinion, is when they should have released it. Odd timing. Regardless, the herd moved on as is SOP. It’s probably reaching oversold now and seeing some dip covering/buying. As a Lode long, I see this as more of day trade action as the new Noble PT is $9.25 and managements goal is a sustained $12 for their bonuses to kick in. Personally, I’m looking forward to the company releasing numbers on what they’re recovering. Corrado hinted that the units are working as designed. Speaking of hints, graphene/anodes. For me, this is just a blip on the chart. We keep moving forward and the company keeps making good decisions on increasing value.
You might want to watch this interview.
https://www.channelchek.com/channelcast-detail/202
I’m just a long who is not an investment professional, and this is just my opinion. Trade at your own risk. Do your own due diligence.
Nice umbrella!
Comstock Announces Participation in Adelaide Capital Charity Battery Metals Pitch Battle
VIRGINIA CITY, Nev., March 23, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that Mr. Corrado De Gasperis, its CEO, will participate in Adelaide Capital’s Battery Metals Pitch Battle on March 25th from 4:15 to 5:30 pm ET.
Please register here if you would like to attend: https://us02web.zoom.us/webinar/register/WN_Y7e6nymWRhutnE3ao4jZYA. The webinar will also be live streamed on YouTube for those who are unable to access Zoom: https://m.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw. A replay will be made available after the event on Adelaide Capital’s YouTube channel.
The Pitch Battle is a charitable event in support of the Leukemia & Lymphoma Society of Canada.
“There are so many types of Leukemia and Lymphoma and they all impair lives. We are proud to support real efforts for curing this illness and improving lives for the families so drastically impacted,” stated Comstock’s Executive Chairman and CEO, Corrado De Gasperis. “We are also In It To Win In, for such a great cause and we are sincerely honored to participate. If you are able to donate, please click on the link here: https://bit.ly/3r93cut and please note that the link will not be active until March 25th.”
Adding the descriptive text from the zoom signup:
As the future of clean, green tech continues to evolve, we think it is time to organize our second ever pitch battle focused on the battery metals sector.
Join us as we host a group of quality battery metals companies. The event will begin at 4:15pm ET on Thursday March 25th. Total run time is yet to be determined, depending on the number of companies participating. Each company will do a 3-minute pitch and the audience will vote on which company they like the best. Companies will be divided in two or three groups (depending on the number of participating companies). Each group will consist of 5-6 presenting companies and the winner of that heat will go onto the final round to take place at the end of the event.
Participating companies will donate $250 to our very own Team Tina Byers’ fundraiser for the Leukemia & Lymphoma Society of Canada. For attendees who are interested and able to donate please follow this link: https://bit.ly/3r93cut (note that the link will not be active until March 25th). The winning company will receive a free hour-long webinar hosted and promoted by the team at Adelaide Capital as part of our support for a cleaner, greener future. Adelaide Capital will be donating to Team Tina as well.
Should be fun for a good cause
Comstock and MCU Commence Philippine Mercury Remediation Operations; First International Remediation and Extraction Facility is Now in Production
VIRGINIA CITY, Nev., March 23, 2021 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Mercury Clean Up LLC (“MCU”), announced today that all of the site construction and mercury system set up and testing was completed in their Clean Mercury Remediation Technologies (“CMRT”) joint venture earlier this month with the system going operational last week. This represents the first commercial mercury remediation system in the province of Davao D’ Oro, Philippines, and the foundation for adding additional remediation systems into this unprecedented, eco-system-wide mercury remediation effort in the Philippines and leading achievement for the U.N’s Minamata Convention, the international treaty designed to protect human health and the environment from emissions and releases of mercury and mercury compounds. The international agreement strives to reduce mercury pollution from targeted activities, particularly artisanal and small-scale gold mining, responsible for the major release of mercury to the immediate environment.
Photo accompanying this announcement is available at https://www.comstockmining.com/press-releases/comstock-and-mcu-commence-philippine-mercury-remediation-operations/
“There is a real joy about being back into production, especially when our production cleans, remediates, and restores the environment back into its natural state,” stated Comstock’s Executive Chairman and CEO, Corrado DeGasperis. “This is the first of multiple systems MCU is dedicating to clean up this entire eco-system, not only reviving the 24-kilometer river, but the downstream irrigations, agriculture and communities it previously served. The social impact is incalculable and represents the baseline for mining-related contaminations across the entire country. The Country’s leading environmental regulator stated that the success of this cleanup will set the standard for the rest of country.”
Artisanal and Small-Scale Gold Mining (ASGM) Dilemma
Mercury-dependent ASGM uses a process known as amalgamation to dissolve gold from natural deposits. The amalgam is then typically isolated by hand and then heated to distill the mercury and isolate the gold. Problematically, mercury is hazardous to human health and the environment, where residual ASGM wastes contaminate water and soil and ultimately bioaccumulate into food chains. Mercury risks to children are particularly acute, with mercury emissions from ASGM disabling both physical and mental development. The process was regulated into near extinction by most countries, but upwards of 20 million people still use mercury to mine for gold in more than 70 countries, making mercury pollution from ASGM a U.N. prioritized global issue through the Minamata Convention. The Philippine Naboc River has long been a channel for effluents of mining activities in the area, as evidenced by the high levels of mercury and total suspended solids, according to the Philippine Department of Environment and Natural Resources (DENR), with hundreds of previous processing activities operating on Mt. Diwata without proper tailing ponds, releasing with their toxic, mercury-laden discharges into the Naboc River.
Proprietary Remediation and Extraction Process
The MCU mercury remediation system is the first of several planned by MCU, Comstock and CMRT in the region. Each system is mobile and specifically designed for remote deployment, to remediate mercury from existing amalgamation wastes while extracting residual by-products, including gold, cleaned sand, soil and gravel for commercial use. The mercury wastes are disposed in a safe and compliant manner, thereby repairing and enhancing local ecosystems, while the extracted gold and cleaned by-products provide multiple high-margin revenue streams.
“Each patent-pending core remediation system is expected to produce positive cash flow within just a few months of start-up, with fast full returns on capital deployed, typically in less than 18 months, depending on processing rates and the various by-products extracted from environment,” continued Mr. DeGasperis. “Our plan involves deploying another system this year and several additional systems thereafter, now that the first one is up and running, as we look toward expanding the social impact across the entire district and sustained, positive cash flow growth.”
http://www.globenewswire.com/news-release/2021/03/23/2197473/0/en/Comstock-and-MCU-Commence-Philippine-Mercury-Remediation-Operations-First-International-Remediation-and-Extraction-Facility-is-Now-in-Production.html
I’ll be playing around with the html editor this weekend to update so dont be suprised if the board looks a little wonky for a few. I’ll gladly take suggestions before, during and after...
You beat me to it. It’s more carbon colored and works well with anodes as opposed to cathodes?
It’s a beautiful thing to see that. I can easily imagine seeing several of those along the 24 mile stretch of Naboc river.
Working on it. Thanks for the offer. You may be the right dino for the job. Will let you know
LODE 2020 Year End Results & Update - Zoom Recording
I’m sure people thought the same thing when lode was at $1.00 and their PT was $4.50. Yet, here we are.
Mmmm. Crayons taste good. That’s about my skill level. :)
$9.25 is the new target from Mark Reichman who is the natural resources analyst at Noble.
Here is the link:
https://www.markets.co/comstock-mining-lode-gets-a-buy-rating-from-noble-financial-2/303576/
Keep in mind I have not seen a press release about it.
Yes I noticed that as well but I don’t think it’s part of the survey. My guess is that it’s an older map with the new survey data just dropped on top. Probably just an artifact.
Interesting. Thanks for that post.
That’s the link I saw. I cant verify that it is from Noble yet. I should have waited for an newswire link. Treat it with some caution. Will be nice to verify. I can delete it there are objections.
Noble ups it target from $4.50 to $9.25?
https://www.tipranks.com/stocks/lode/forecast?ref=research
Anyone have a better source?
If I can get some help updating this board, there’s plenty of material to use. Hint, hint. Nod, nod. Put down yer whiskey and ask the misses.
Ive looked at that map and it would be silly not to use it as a primay locator. Yes, I think you can infer many things about it that aren’t within our sphere that would interest the boss and the $. It’ll definitely help TNGL as well, which as you know, ultimately helps us. I’ll try to post link to it here.
https://www.sec.gov/Archives/edgar/data/1120970/000112097021000046/lode-20201231_g6.jpg
Yeah, I don’t think we have to look far within Nevada for targets, and I have a suspicion that we are being approached with interest in the tech instead of us having to go look for biz. In a couple months we’ll hear about the Phillipines and I believe at that point we get recognized as a global player. Corrado seems comfortable with ramping it up and that’s good enough for me.
I honestly don’t know if what ITRO is developing syncs up with LiNiCo. We know it’s good for mining purposes, which is still under our umbrella. I’ll poke around.
All things considered, I thought it was a great call and we should all look forward to the developments in 2021 and beyond.