Comstock Acquires Industrial Battery Storage Property
April 13 2022 - 6:45AM
Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”)
today announced it has a definitive agreement to acquire the
Haywood quarry and industrial property (the “Haywood” or “Property)
from Decommissioning Services LLC for a total of $2.1 million in
cash and stock. The Haywood property represents approximately 190
industrial acres in Lyon County, Nevada, and is part of one of the
largest industrial parks in Lyon County. The Property has power,
water and immediate highway access.
The Company plans to immediately employ a portion of the
property for used lithium-ion battery (“LIB”) storage, to support
the battery metal recycling operations of LINICO Corporation
(“LiNiCo”), one of Comstock’s renewable energy subsidiaries. The
property will receive, sort, and store waste LIBs and has immediate
and easy access to US 50 which simplifies as-needed transportation
to LiNiCo’s battery metal crushing, separating and processing
facility located in the Tahoe-Reno Industrial Center, right off US
50, in Storey County, NV.
“This site is a key acquisition, supporting Comstock’s
transformation into a renewable energy company,” stated Mr. Corrado
De Gasperis, Comstock’s Executive Chairman and CEO. “It requires
minimal site preparation and permitting to become a critical link
in the system necessary for LiNiCo to operate at maximum
throughput.”
The property originally (and currently) hosted both gold and
aggregate mineral resources and mining operations. The property is
strategically located and contiguous to the Company’s mineral
properties in Lyon County.
Conventional recycling processes suffer from high lithium
losses. Once the pilot crushing and separating system is operating
later this year, the Company plans on extracting lithium
immediately after crushing and conditioning for market leading
yields that maximize lithium recovery for reuse in these
electrification products.
Securing this large industrial storage site complements the
Nevada-based platform for a fully integrated series of operations
where the Company is currently permitting and building both pilot
and commercial scale facilities for lithium-ion batteries recycling
and is preparing to commence operations later this year. LiNiCo’s
near term plans include efficiently crushing and separating LIBs
and producing pure black mass, rich in critical battery metals
including lithium, nickel, cobalt, and graphite, and then
extracting substantially all of the lithium first.
“LiNiCo’s ‘black mass’ powders are projecting highly
concentrated materials with exceptionally high purities, giving us
unprecedented optionality to work with multiple refining partners
to maximize recovery of cobalt, nickel, copper, and other battery
metals,” continued Mr. De Gasperis, “our lithium extraction
developments will activate our ‘lithium first’ strategy that
enables profitability at relative low volumes of operation and real
growth.”
About Comstock Comstock (NYSE: LODE) innovates
technologies that enable systemic decarbonization and circularity
by efficiently converting under-utilized waste and renewable
natural resources into fuels and electrification products that
contribute to balancing global uses and emissions of carbon.
Comstock plans to achieve extraordinary financial, natural, and
social gains by building, owning, and operating a fleet of advanced
carbon neutral extraction and refining
facilities, commercializing complimentary process solutions
and related services, and licensing selected technologies to
strategic partners.
To learn more, please visit www.comstock.inc.
Forward-Looking Statements This press release
and any related calls or discussions may include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical facts, are forward-looking statements. The words
“believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,”
“should,” “intend,” “may,” “will,” “would,” “potential” and similar
expressions identify forward-looking statements, but are not the
exclusive means of doing so. Forward-looking statements include
statements about matters such as: future industry market
conditions; future explorations or acquisitions; future changes in
our exploration activities; future changes in our research and
development; and future prices and sales of, and demand for, our
products and services. Except as may be required by securities or
other law, we undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Neither this press release nor any related call or discussion
constitutes an offer to sell, the solicitation of an offer to buy
or a recommendation with respect to any securities of the Company,
the fund or any other issuer.
Contact information: |
|
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Comstock Mining Inc.P.O. Box
1118 Virginia City, NV 89440ComstockMining.com |
Corrado De GasperisExecutive
Chairman & CEOTel (775)
847-4755degasperis@comstockmining.com |
Zach SpencerDirector of
External RelationsTel (775) 847-5272
Ext.151questions@comstockmining.com |
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