Majority ownership of LiNiCo. Comstock Mining acquired an additional 3,129,081 common shares in LiNiCo Corporation from its founder and former CEO in exchange for 3,500,000 restricted Comstock common shares. Additionally, Comstock acquired an additional 4,075 preferred shares increasing its ownership to 90% from 45%. The remaining 10% of LiNiCo is owned by Aqua Metals Inc. We expect LiNiCo financial results to be consolidated into Comstock’s year-end financial statements.Potential corporate rebranding. Prior to the end of the first quarter, we think Comstock Mining may re-brand to better align with its emerging core businesses, Battery Metal Recycling and Cellulosic Fuels, and to reflect its transformation into a renewable energy company seeking to promote decarbonization within the transportation sector. Moreover, we think management may provide more detailed financial guidance with respect to new lines of business.Catalysts on the horizon. With respect to LiNiCo, prototypes for crushing and separating, and lithium extraction are still expected in the first and late third or fourth quarters, respectively. Full scale crushing and separating operations are expected to commence in the second half of 2022 with lithium extraction added at the end of the fourth quarter. Additionally, interesting developments are taking place in the cellulosic fuels segment which we think could drive value in 2022, including finalizing the suite of available clean products to include ethanol and clean petroleum products, along with the potential to provide services and equipment to third parties.Rating is Outperform. Comstock is making significant progress in advancing its plans for its new lines of business, including LiNiCo. In our view, 2022 should be a catalyst rich year, with the potential for major announcements, including a potential rebranding during the first quarter. Read More >>