Comstock Mining (LODE) publishes letter to shareholders



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Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Firm”) as we speak introduced that its Government Chairman and Chief Government Officer has addressed the next letter to Comstock shareholders previous to the Annual Normal Assembly of Shareholders .

Pricey Shareholders, On behalf of our Board of Administrators, our workers and companions, we want to thanks all for having participated in a pivotal, thrilling and fruitful yr. We repositioned our property by buying new applied sciences, launching new companies, liquidating non-core and non-performing property and eliminating our debt. We now have now positioned our current platform for extraordinary progress and excessive impression worth creation with clear improvements, local weather sensible mining and ESG centered initiatives.

This transformational “inexperienced shift” started years in the past and has gained traction by means of our international mercury remediation and lithium-ion battery recycling initiatives. These efforts not too long ago resulted within the commissioning of our first Mercury Clear-Up LLC (“MCU”) enterprise mission within the Philippines and the acquisition of a controlling curiosity in LiNiCo Company (“LiNiCo”), and its 20,000 tons of lithium per yr. recycling ion batteries and producing 10,000 tonnes per yr of 99.9% pure cathodes on the Tahoe Reno Industrial Heart (“TRI”) positioned in Storey County, NV.

Every MCU system has the potential to supply over $ 12 million in pretax working revenue per yr (relying on website circumstances, mineral content material and spot worth). The LiNiCo facility, at solely 33% of its capability and 60% of relevant commodity costs, has the potential to generate greater than $ 100 million in gross sales with estimated pre-tax working revenue margins exceeding 30%. %. We’re additionally actively exploring extensions and acquisitions that help and speed up LiNiCo’s progress with a star mannequin.

Comstock has traditionally centered on the mining of valuable and strategic metals, the place the phrases “valuable” and “strategic” have historically been outlined by the magnitude of the impression and relative shortage. We now imagine that the worldwide transition to scrub power, rising inhabitants progress and shortage of pure sources are converging right into a “excellent storm” of world demand for a wider vary of strategic supplies, past metals, together with all the pieces associated to carbon, power and water. – with out the corresponding international capability to reply sustainably or reliably to rising demand. Our strategic focus due to this fact expands to incorporate the extraction and upgrading of a portfolio of vital and inevitably scarce supplies, with an preliminary choice for high-flow money turbines that complement our current abilities and operations. We’re evaluating a number of potential transactions and funding alternatives, the primary of which we hope to shut throughout this quarter.

Our worker incentive compensation is 100% tied to particular efficiency targets designed to ship $ 500 million in shareholder worth and over $ 12.00 per share by 2023. Our staff is targeted on reaching and surpassing these targets as a result of the “excellent storm” of present demand is not the one factor on our horizon. A renaissance of inexperienced innovation is upon us and the tempo is accelerating world wide.

We will probably be a pacesetter in these efforts, with a give attention to the systemic improvement and commercialization of recent applied sciences and strong new strains of enterprise, similar to MCU and LiNiCo, amongst others, which have the potential to contribute sustainably. to mankind rapidly. rising demand for more and more scarce pure sources, together with strategic metals and different sources wanted to gas the worldwide quantum growth and the transition to scrub power, carbon neutrality, and pure merchandise.

We’re systematically strengthening our group and our positioning for continued progress in throughput. We are going to increase our MCU footprint, enhancing effectivity and concentrating on new deployments in certified geographies. We are going to develop our recycling and manufacturing exercise for LiNiCo batteries. We are going to purchase and develop worthwhile applied sciences, initiatives and companies. We are going to measure the wealth we create holistically, with stream being our main monetary metric, and by measuring and reporting the optimistic pure and social impacts of all of our actions. By sustainably delivering over $ 500 million of shareholder worth, we may have constructed an revolutionary, repeatedly rising, throughput-generating, ESG-based enterprise, with various strains of companies that surpass the challenges of the world. shortage.

We’re on the daybreak of a brand new period. This tragic pandemic is coming to an finish and it has taught us how intently linked we’re all. Not simply to one another and to the pure world that sustains us, but additionally to the monetary, pure and social programs which have the facility to save lots of us. We are going to assist obtain this by positively impacting current programs, and constructing and integrating new programs and shareholder worth alongside the way in which.

We sit up for our subsequent communication and seeing these of you who could attend this yr’s AGM, the place we plan to showcase our current strains of companies, workers and companions, together with the outcomes of our anticipated short-term transactions. Thanks at all times on your continued curiosity and help.

Sincerely, Corrado De Gasperis Government Chairman and Chief Government Officer Comstock Mining Inc.

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