Comstock Mining Inc. LODE,
is the stock on Wednesday, as it blew higher than four times on a heavy volume to accelerate all pre-sellers. The mineral development and production company announced transactions in which it acquired rights for a 64% stake in Linico Corp. Comstock will pay $ 4.5 million in cash and 3.0 million shares of its restricted ordinary shares, representing a total amount of $ 10.75 billion. Comstock shares shot up 307.6%, and the trading volume of 13.0 million shares has been more than the average day of 12.7 million shares over the past 30 days. Linico recently acquired a battery recycling facility in Nevada from Aqua Metals Inc. acquired and Aqua Metals invested $ 2 million for a 10% stake in Linico. “We consider consumed lithium-ion batteries to be a powerful industrial mineral, and – as with any resource, we need the right team, technology and infrastructure to exploit and process them,” said Comradock CEO Corrado De Gasperis. said. “This transaction combines all three into an ecosystem of affiliated partners, working systematically on a common goal.” The latest available data showed that Comstock’s short-term stake was just 0.2% of the public fleet. The stock has risen 120.6% over the past three months to Tuesday, while the S&P 500 SPX,
achieved 9.0%.
