Comstock Mining: Quadruples after buying stake in lithium-ion battery recycler

Comstock

17/02/2021 13:40

** Shares of gold and silver miner  LODE.A  more than
quadruples to $9.9 premarket, set to open at four-year high
    ** Co buys majority stake in LINICO Corp, a lithium-ion
battery recycling co based in Nevada  urn:newsml:reuters.com:*:nGNX4gfRx5
    ** LODE to pay $4.5 mln in cash, 3 mln shares of restricted
common stock and will have 64% ownership stake in LiNiCo
    ** LINICO plans to commence production later this year,
building toward cathode production capacity of about 10,000 tons
per year
    ** Our agreements accelerate the race towards reducing
carbon emissions by valorizing critical metals and supporting
the increasingly high demand for EVs - LINICO 
    ** Up to Tuesday's close, stock up ~116% YTD
    

 (Reprting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))