DivestmentJul 24, 2026, 04:23 PM
Comstock Divests Legacy Mining Assets for Over $45M; Q2 Results Announced
AI Summary
Comstock Inc. announced its second quarter 2026 business results and outlook, highlighted by the divestment of its legacy mining assets for over $45 million, expected to close in August 2026. The company also reported a $16.4 million impairment loss related to Bioleum's reoriented technological plans and provided updates on its metals segment, including the commissioning of its first industry-scale solar recycling facility by August 2026 with an expected $5 million in H2 2026 revenues.
Key Highlights
- Divested legacy mining assets for over $45 million, including $20 million immediate cash.
- Recorded approximately $16.4 million impairment loss for Bioleum's technology assets.
- Metals segment's first industry-scale solar recycling facility to be operational by August 2026.
- Expected $5 million in revenues from solar recycling in H2 2026.
- Increased investment in Sierra Springs Opportunity Fund to 47.63% for $11.64 million.
- Cash and cash equivalents were $31.4 million at June 30, 2026.
- Common shares outstanding were 75.95 million at June 30, 2026.
Price Impact
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