Comstock Mining Inc (NYSEAMERICAN: LODE) is having an overwhelmingly strong start to the trading session this morning, and for good reason. Late yesterday, the company announced that it has received an award. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The award;
- what we’re seeing from LODE as a result; and
- what we’ll be watching for with regard to the stock ahead.
LODE Climbs On Award
As mentioned above, Comstock Mining is having an incredibly strong start to the trading session this morning after announcing that it has received an award. In a recent press release, the company said that it received the United States Bureau of Land Management’s (BLM) 2018 Reclamation and Sustainable Mineral Development Award.
LODE said that the award was in recognition of the complex reclamation, deep shaft sealing and restoration of the Historic Silver Hill Mine shaft. The project was completed in conjunction with the realignment and rebuilding of a major portion of Nevada’s State Route 342. The project included capping a hazardous, history mine shaft, the realignment of a major state route away from that shaft, safe removal of hazardous materials from legacy mining and the reclamation and beautification of historic mine features and historic mining landscapes in the Historic Comstock Lode Mining District.
In a statement, Corrado De Gasperis, Executive Chairman and CEO at LODE, had the following to offfer:
Our Comstock team successfully led an unprecedented, multi-agency partnership and process that resulted in an accelerated, efficient, safe and beautifying realignment of State Route 342 that enabled a massive environmental remediation, mining and enhanced tourism, all in one project. This was a truly remarkable accomplishment.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Comstock Mining, the news proved to be positive. After all regulatory recognition is never a bad thing. So, it comes as no surprise that excited investors are sending the stock on a run for the top in the market this morning. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:09), LODE is trading at $0.15 per share after a gain of $0.022 per share or 17.46% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LODE. In particular, we’re interested in following the company’s continued expansion of the company and discovery of new resources. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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