$LODE +103% mid day to finish at +83%

$LODE jump pre market on Q2 result!

Here is the highlights of the news:

 

Recent 2020 Selected Strategic Highlights

  • Extinguished the current Senior Secured Debenture from a combination of $0.9 million in accelerated cash proceeds from Tonogold and new, unsecured promissory notes, with favorable, extended terms;
  • Investments in Tonogold Resources Inc. (“Tonogold”) valued at $10.4 million at June 30, 2020, a $1.6 million increase in fair market value driving positive net income for the three months ended June 30, 2020;
  • Investment in Mercury Clean Up LLC (“MCU”) increased to $1.75 million (in cash and stock) at June 30, 2020, with on-site installation of the Comstock mercury remediation system underway (pictured below);
  • Extended agreements for the sale of Comstock’s two non-mining properties in Silver Springs, NV, for total expected proceeds of $10.1 million, with the closings expected this quarter; and
  • Consummated the April acquisition of 25% of PELEN LLC, owner of the historic Sutro Tunnel Company.

Second Quarter 2020 Selected Financial Highlights

  • Total operating costs were $1.3 million in Q2 2020, a $0.2 million or a 15.9% improvement over Q2 2019;
  • Interest expense was $0.1 million in Q2 2020, a $0.1 million or a 49.6% improvement over Q2 2019;
  • Other income, net was $2.2 million, primarily driven by gains of $1.6 million on equity investments in Tonogold and $0.4 million on the contingent forward assets receivable still committed to us by Tonogold;
  • Net income was $1.3 million, or $0.05 per share for three-months ended June 30, 2020, as compared to a prior period net loss of $2.1 million, or ($0.13) loss per share, driven by investment gains and lower costs;
  • Net income was $1.0 million, or $0.04 per share for six-months ended June 30, 2020, as compared to a prior period net loss of $3.9 million, or ($0.24) loss per share, driven by investment gains and lower costs; and
  • Cash and cash equivalents at June 30, 2020, were $1.0 million.

Mr. Corrado DeGasperis, Executive Chairman and CEO stated, “We have grown and strengthened our balance sheet, extinguished our secured debt, and deployed and installed the first MCU – Comstock system as we prepare for material testing within the boundaries of the Carson River Mercury Superfund Site (“CRMSS”). We have also reserved shipping containers as we prepare to ship our first international unit to the Philippines.”

 

Here is the link of their press release.

 

Here is the graph mid day.

 

Here is the 30 day overview midday.

 

 

Here is the graph of the complete day.

 

Here is the 30 day overview at the close.

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