Comstock Mining

Comstock, Inc. engages in the exploration and development of mineral properties. It operates through the following segments: Production and Sale of Renewable Energy Products, and Strategic and Other Investments. The Production and Sale of Renewable Energy Products segment sells biomass-derived carbon neutral oil, ethanol, gasoline, renewable diesel, jet fuel, marine fuel, and other renewable replacements. The Strategic and Other Investments segment includes all other activities, including real estate, mining, and equity method investments. The company was founded in 1999 and is headquartered in Virginia City, NV.

Earnings data Q1 2021

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Comstock Mining (LODE) excels in strategic partnerships and technological advancements

Comstock Mining demonstrates resilience and innovation in its business operations, leveraging partnerships and technological advancements to drive growth. Addressing funding needs and regulatory compliance will be crucial for sustained success and market competitiveness.

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Comstock, Inc. engages in the innovation, commercialization, and development of technologies that enable systemic decarbonization by converting under-utilized natural resources into renewable energy products. It operates through the following segments: Fuels, Metals, Mining, Strategic Investments, and Corporate and Other. The Fuels segment develops and commercializes technologies that extract and convert wasted and unused lignocellulosic biomass into intermediates for refining into advanced renewable fuels. The Metals segment is involved in recycling metals from other electronic devices, such as end-of-life batteries and fuel cells at later stages of development and production. The Mining segment focuses on leases, licenses, and related fees. It is administered by Comstock Mining LLC, and various other subsidiaries that collectively own or control twelve square miles of properties of patented mining claims, unpatented mining claims, and surface parcels in Northern Nevada. The Strategic Investments segment represents investments and projects that are strategic to plans and the ability to produce and maximize throughput in fuels, metals, and mining segments. The Corporate and Other segment includes corporate functions and services, including research and development activities that are ongoing outside of the business activities related to fuels, metals, mining, and strategic investments segments. The company was founded in 1999 and is headquartered in Virginia City, NV.

VIRGINIA CITY, Nev., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today the Company will host a conference call on Tuesday, November 17, 2020 at 8:00 a.m. Pacific Standard Time/11:00 a.m. Eastern Standard Time to report its Third Quarter financial results and provide a business update. The live call will include a moderated Q&A, after the prepared remarks. Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code. The dial-in telephone numbers for the live audio are as follows:

Comstock Mining Announces Notice of Third Quarter 2020 Results and Business Update Conference Call

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VIRGINIA CITY, N.V., Oct. 08, 2020 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (NYSE American: LODE) and its wholly-owned subsidiary, Comstock Processing LLC (collectively, the “Company” or “Comstock”) and partner Mercury Clean Up LLC (“MCU”), a strategic investee, announced today, that it has commenced its Mercury Clean Up Pilot Study targeting the old Baltimore-Maryland waste dumps located on American Flat, in immediate proximity of MCU’s mercury remediation technology and system. This follows approval from the Nevada Division of Environmental Protection (“NDEP”) that granted a final Engineering Design Change (“EDC”) associated with an As-Built Report for the Mercury Clean Up Pilot operating within Comstock’s existing Water Pollution Control Permit -NEV2000109, including the application of process solution and within its fully contained, double-lined platform.

Mercury Clean Up Pilot Project Commences in Nevada; MCU’s Second Unit Shipped To Philippines

VIRGINIA CITY, N.V., Oct. 06, 2020 (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company” or “Comstock”) (NYSE American: LODE) announced today, the receipt of over $4 million in cash proceeds from the monetization of preferred stock. Under the terms of the Lucerne mine sale with Tonogold, Comstock Mining received $6.1 million in Convertible Preferred Stock (“CPS”) issued by Tonogold. Through 9/30/2020, the Company had converted $3.920 million CPS in exchange for 21,777,778 common shares of Tonogold. On October 2, 2020, Tonogold redeemed the remaining $2.18 million CPS for cash proceeds of $2.616 million, representing 120% of the CPS face value. This transaction allowed the Company to reduce its promissory notes, from $4.475 million to $2.5 million, reducing interest expense.

Comstock Mining Monetizes Preferred Share Holdings; Reduces Debt by $2 million

VIRGINIA CITY, Nev., Sept.  22, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today that Geotech Ltd. (“Geotech”) of Aurora, Canada, began conducting the previously announced airborne geophysical surveys last weekend, including the Dayton resource area, adjacent to Silver City, NV and the contiguous Spring Valley exploration targets all the way to Hwy 50.  

Comstock Mining Launches Geophysical Surveys of the Southern Comstock District Dayton Resource Area and Spring Valley Exploration Targets

VIRGINIA CITY, Nev., Sept.  16, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company” or “Comstock”) (NYSE American: LODE) announced today the election of Mr. Judd B. Merrill, 49, to its Board of Directors. Mr. Merrill is currently the Chief Financial Officer of Aqua Metals, Inc. a clean AquaRefining™ metal recycling technology, since 2018.

Comstock Mining Announces New Director; Sets Annual Meeting and Record Dates

VIRGINIA CITY, Nev., Sept.  14, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company” or “Comstock”) (NYSE American: LODE) announced today that it has completed the sale of its Lucerne mine to Tonogold Resources, Inc. (“Tonogold”) for total value and consideration of approximately $25.9 million. The consideration includes $7.1 million in cash, $6.1 million in Convertible Preferred Stock (“CPS”), and a $4.475 million, 12% notes receivable, due and payable on September 20, 2021, plus the assumption of $6.7 million in future lease and reclamation obligations, that together represent a permanent reduction of annual operating expenses of approximately $1 million. The CPS had an initial recorded fair value of $7.6 million (and a higher fair value of $10.4 million at June 30, 2020). Comstock retained a 1.5% net smelter return (NSR) royalty on Lucerne and will recognize a tax-free gain on the sale of approximately $18 million, with substantially all of the gain expected in the third quarter.

Comstock Mining Completes Lucerne Transaction; Recognizes an $18 million Gain on Sale

VIRGINIA CITY, Nev., Sept.  09, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) and Comstock Northern Exploration, LLC (“Comstock”), a wholly-owned subsidiary of the Company, entered into a Mineral Exploration and Mining Lease Agreement (the “Lease”) with the Sutro Tunnel Company (“Sutro”), in order to lease certain patented mining claims, exploration rights and town lots in the Gold Hill and Virginia City Mining District in Storey County, Nevada (collectively, the “Sutro Properties”). The Company previously had exclusive rights to explore and mine these same properties and mineral claims beginning in 2008.

Comstock Mining Extends Mineral Leases; Secures Strategic Purchase Option

VIRGINIA CITY, Nev., Sept.  02, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced that it has contracted to lease and sell one of its three major non-mining assets, the Daney Ranch property, located near Dayton, Nevada, for a purchase price of at least $2.7 million. The Company entered into an agreement with the owner of an established exploration and mine development drilling services company, to lease the facility for $9,000 per month, for up to 24 months, and the assumption of all maintenance, upgrades and repairs as the responsibility of the lessor. If the transaction closes within two years, the lease payments are creditable to the purchase price. If not, the lease payments increase to $10,000 for a third year, and prior payments no longer apply to the $2.7 million purchase price.

Comstock Mining Contracts to Lease and Sell Daney Ranch for $2.7 Million; Positions Strategic Drilling Services for the Dayton Resource Area and Spring Valley Exploration Targets

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VIRGINIA CITY, Nev., Aug.  26, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced that it has contracted with Geotech Ltd (“Geotech”) of Aurora, Ontario, Canada to conduct airborne geophysical surveys of its wholly owned Dayton resource area and adjacent Spring Valley exploration targets.  Geotech expects to begin flying its proprietary Versatile Time-Domain Electromagnetic (“VTEM”) geophysical system in  mid-September, and plans to deliver three-dimensional interpreted results by mid-October. The results will greatly increase the Company’s understanding of the Dayton resource area and Spring Valley resource expansion potential, along with the Company’s other exploration targets in Lyon County.

Comstock Mining Schedules Geophysical Surveys of the Southern Comstock District Dayton Resource Area and Spring Valley Exploration Targets

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Comstock Mining (LODE) earnings for the gold and silver mining company's second quarter of 2020 have LODE stock glittering on Monday.

Comstock Mining Earnings: LODE Stock Soars 98% on Strong Q2

VIRGINIA CITY, Nev., Aug.  17, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) filed its Quarterly Report on Form 10-Q last week and announced selected strategic and financial results for the fiscal quarter ended June 30, 2020, including the arrival and assembly of our first mercury remediation system.

Comstock Mining Announces Full Second Quarter 2020 Results; Increased Strategic Investment Values Drives Positive Net Income, Deploying Mercury Systems

VIRGINIA CITY, Nev., Aug.  12, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today it completely paid off, yesterday, its remaining $4 million Senior Secured Debenture from a combination of recent cash proceeds from Tonogold and new, unsecured promissory notes, with favorable terms. 

Comstock Mining Extinguishes Senior Secured Debenture Via Favorable Refinancing

VIRGINIA CITY, Nev., Aug.  06, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced participation at Virtual Investor Day, held August 11-12, 2020:

Comstock Mining CEO Corrado DeGasperis to Present at Virtual Investor Day

Comstock Mining Inc. (LODE) CEO Corrado De Gasperis on Q2 2020 Results - Earnings Call Transcript

VIRGINIA CITY, Nev., July  28, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced selected strategic and financial updates (unaudited) for the second quarter and year to date:

Comstock Mining Announces Second Quarter 2020 Results; Initiated Delivery of Comstock Mercury Remediation Systems; Forms MCU Philippines Inc.

VIRGINIA CITY, Nev., July  21, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced selected strategic and financial updates (unaudited) for the second quarter and year to date:

Comstock Mining Announces Positive Net Income for Second Quarter; Readies Transport of Mercury Remediation Systems to the Comstock Lode and the Philippines

VIRGINIA CITY, Nev., July  07, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced selected strategic and financial highlights (unaudited) for the second fiscal quarter ended June 30, 2020.

Comstock Mining Announces Second Quarter 2020 Update; Goal Drives Strategic Value Targets

Comstock Mining Inc. (LODE) CEO Corrado De Gasperis on Q1 2020 Results - Earnings Call Transcript

VIRGINIA CITY, Nev., March  26, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (the “Company”) (NYSE American: LODE) today announced that on March 20, 2020, the Company amended and restated its Membership Interest Purchase Agreement (the “Purchase Agreement”) with Tonogold Resources Inc. (“Tonogold”), increasing and accelerating certain expense reimbursements, accelerating certain exploration drilling and development programs, and extending and securing the remaining obligations due toward the purchase of the remaining ownership interests (the “Membership Interests”) in Comstock Mining LLC (“CML”), the entity that owns the Lucerne mine and related obligations.

Comstock Mining Amends Tonogold for Accelerated Gold and Silver Exploration Drilling

Comstock Mining, Inc. (LODE) CEO Corrado De Gasperis on Q4 2019 - Earnings Call Transcript

VIRGINIA CITY, Nev., Feb.  11, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (“Comstock” or the “Company”) (NYSE American: LODE) today provided updates on key components of the Company’s strategic objectives, including updates on its strategic investees, Mercury Clean Up LLC (“MCU”) and Sierra Springs Opportunity Fund Inc. (“SSOF”).

Comstock Mining Provides Strategic Updates; MCU Secures Major International Remediation Project; Opportunity Fund Strategic Acquisitions

VIRGINIA CITY, Nev., Jan.  08, 2020  (GLOBE NEWSWIRE) -- Comstock Mining Inc. (“Comstock” or the “Company”) (NYSE American: LODE) today provided updates on key components of the Company’s strategic objectives.

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