Movers and SHAKERS
Comstock Mining (LODE)
Comstock Strategy Takes a Quantum Leap
Comstock Mining Inc is a mining company with a focus on gold and silver deposits in the Comstock and Silver City mining districts in Nevada. Its operations are divided into two segments, namely mining and real estate. Its mining projects include The Lucerne Resource area, the Dayton Resource area, the Spring Valley exploration target, the Northern Extension, Northern Targets and Occidental areas. The Real Estate segment involves land, real estate rental properties and a hotel, restaurant & bar provided by the Gold Hill Hotel located in Gold Hill, Nevada just south of Virginia City and the Daney Ranch, located just south of Silver City. The majority revenues are generated from the real estate segment.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
GenMat investment. Comstock Mining has agreed to purchase an additional 5% of its 45%-owned technology development partner, Quantum Generative Materials LLC (GenMat), for $50 million. Comstock has been working with GenMat for roughly 6 months and executed a transaction in June that provided founders equity for its work and committed it to funding the first phase of a two-year plan. Comstock will provide an initial $15 million in the form $5 million in cash and 3 million shares over the next six months, and an additional $35 million upon GenMat achieving key development milestones. Mr. Corrado De Gasperis, Executive Chairman and CEO of Comstock Mining, is expected to chair GenMat’s board of directors that will include GenMat’s three founders and three Comstock representatives.
Application across business lines. GenMat is developing a proprietary quantum operating system for use in various applications. Comstock is focused on applications that accelerate development of new clean technologies. Comstock has secured exclusive rights to use GenMat’s quantum technologies and, for example, intends to use GenMat’s platform to enhance its extraction and refining of lithium and ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.