Comstock Sells Mining Assets for $45M+; Impairs Bioleum $16.4M
Comstock Inc. announced its second quarter 2026 business updates, highlighted by the agreement to sell its legacy mining assets for over $45.0 million, with $20.0 million in immediate cash proceeds expected in August 2026. Concurrently, the company recorded an approximately $16.4 million impairment loss related to Bioleum's technology assets. The first industry-scale solar recycling facility is nearing commissioning, with continuous operations expected in August 2026 and projected revenues of $5 million in the second half of the year. Comstock also increased its investment in Sierra Springs Opportunity Fund to 47.63% for $11.64 million, and reported cash and cash equivalents of $31.4 million at quarter-end.
Key Highlights
- Comstock agreed to sell legacy mining assets for over $45.0 million, including $20.0 million cash.
- The company incurred a $16.4 million impairment loss for Bioleum's technology assets.
- Investment in Sierra Springs Opportunity Fund increased to 47.63% for $11.64 million.
- Solar recycling facility commissioning is nearing completion, targeting $5 million revenue in H2 2026.
- Cash and cash equivalents were $31.4 million as of June 30, 2026.
- Promissory notes were extinguished, resulting in $1.7 million in cash proceeds.
- A $5.3 million acquisition obligation was satisfied by issuing 1,750,000 common shares.
Price Impact
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