Comstock Mining Inc. (LODE) saw a fall of 5.24% in the premarket on 1st October 2021. However, the last trading session concluded at $2.67 with an incline of 3.09%.
LODE Commences Production at Mercury and Gold Extraction Facility
LODE announced on 22 September 2021 that Clean Mercury Remediation Technologies has acquired the final permission and begun full operations in the company’s first commercial mercury remediation system in the Philippines. To dissolve gold from natural sources, mercury-dependent ASGM employs the amalgamation process.
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Usually, the amalgam is separated by hand and then heated to remove the mercury and isolate the gold. Mercury is a problem for both human health and the environment since leftover ASGM wastes pollute water into food chains.
LODE Acquires Plain Sight Innovations Corporation
On 9th September 2021, LODE announced the purchase of Plain Sight Innovations Corporation and exceptional equity in exchange for 8,500,000 restricted shares of its common stock. PSI’s executive team has extensive experience in a wide range of industries, including alternative energies, toxic materials, agriproducts, and other commodities. They have nearly thirty years of clean technology research, development, and marketing and distribution expertise.
PSI owns a number of patented, patent-pending, and proprietary process technologies. They convert low-cost, widely available woody biomass feedstocks into cellulosic ethanol while also producing a variety of co-products, such as renewable diesel and an extraordinary new form of biomass-derived crystalline graphite, or biographite, with compelling applications in the production of carbon nanotubes.
Second Quarter 2021 Financial Results
LODE reported second-quarter 2021 financial results on 10th August 2021. Firstly, a net income of $1.9 million includes $2.6 million in net gains. Secondly, there was a $38.5 million increase in shareholders’ shares as a result of restructuring, funding, and investing activities. This includes overall debt removal and a $34.2 million increase to $77.3 million on June 30, 2021. Following the successful liquidation of non-core assets, debt elimination, acquisition of new technologies are nearing completion.