Comstock Reports Strong Q2 Financials and Advances Recycling Initiatives
Comstock Inc. (NYSEAMERICAN:LODE) reported a stronger balance sheet at the end of Q2, with $31.4 million in cash and no debt. The company expects an additional $20 million from the sale of its legacy mining assets to Mackay Precious Metals, which is set for completion in August 2026. This transaction will remove reclamation liabilities and reduce annual costs by about $1.4 million. The firm also highlighted progress on its solar panel recycling facility, expected to begin operations in August with an initial target of 25% utilization out of a total capacity of 100,000 tons annually. The CEO emphasized the project's potential for generating clean materials and achieving cash-flow breakeven at higher usage levels. Comstock is also advancing its Sierra Springs land-and-water monetization initiative and has increased ownership in that asset to nearly 50%. Additionally, it was recently added to major financial indexes like Russell 2000 and Russell 3000.
Topics: asset_sales balance_sheet capital_spending solar_panel_recycling