Why Did LODE Stock Gain In Pre-Market Today?
Synopsis
Comstock’s unit, Comstock Metals LLC, secured a new facility in California to support its solar panel recycling operations.
Shares of Comstock Inc. (LODE) rose 5.6% in pre-market trading on Monday after the company announced that its subsidiary, Comstock Metals LLC, secured a new California-based facility to support its growing solar panel recycling operations.
The site will serve as the company’s first satellite storage and preparation hub, handling the collection, consolidation, and preparation of decommissioned photovoltaic panels before they are shipped to Comstock Metals’ recycling facility in Nevada. The hub is designed to support solar developers, utilities, installers, and asset owners, and will streamline logistics and reduce costs, the company added.
“Our goal is to help close the loop on solar energy by ensuring that panels at the end of their useful life are managed responsibly and the critical minerals and materials are repurposed for productive use. This facility allows us to directly support California’s clean energy leadership while ensuring materials are transported efficiently to our specialized recycling operations in Nevada,” said Fortunato Villamagna, President of Comstock Metals.
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