Comstock Mining Inc (NYSEAMERICAN:LODE) continues to move up in the pre-market session on Tuesday. The stock is up 225% so far this year.
Major Trigger:
Comstock Acquires Renewable Process Solutions
Key Highlights:
- announced the acquisition of 100% of the equity of Renewable Process Solutions, Inc. (“RPS”), an advanced process engineering and renewable technology development company, in exchange for 1,000,000 restricted shares in the Company’s common stock, valuing the transaction at approximately $3.5 million.
- RPS and/or Mr. Bobbili have designed and built 21 advanced renewable fuels production facilities since 2006, and RPS currently provides engineering, procurement, and construction (“EPC”) services for the renewable metals, mining, petrochemical, and fuels industries. RPS also provides advanced equipment manufacturing services through its affiliated manufacturing facilities in the United States and India, at consistently superior qualities and rates.
- LINICO Corporation (“LiNiCo”), Comstock’s investment in lithium-ion battery (“LIB”) recycling, has currently engaged RPS for the design and construction of critical renewable processes, including crushing, separating and lithium extraction technologies for LiNiCo’s new, state-of-the-art LIB recycling manufacturing facility at 2500 Peru Drive, in the Tahoe Reno Industrial Center, in Storey County, Nevada.
Market Reaction
As of 7:16, LODE stock gained by 2% to $3.62 So far more than 15K shares have exchanged hands.
 Extends Rally){kind=link}