The companies said in a joint statement construction is nearly complete in their Clean Mercury Remediation Technologies, CMRT, joint venture in the province of Davao de Oro, Philippines.

The venture to make mercury remediation products was announced in summer 2019, and Comstock said earlier this month this was part of its commitmemnt to deploy novel technologies for gold processing and extraction across its portfolio.

The MCU mercury remediation system is the first of several planned in the region.

Each system is mobile and specifically designed for remote deployment, to remediate mercury from existing amalgamation wastes while extracting residual by-products, including gold, cleaned sand, soil and gravel for commercial use.

The mercury wastes are disposed in a safe and compliant manner, while the extracted gold and cleaned by-products provide multiple high-margin revenue streams.

"Each facility is expected to produce positive cash flow within a few months of start-up, with fast returns on capital deployed, typically in less than a year, depending on processing rates and the various by-products extracted from environment," said Comstock chairman and CEO Corrado De Gasperis.

"Our deployment plan involves several additional systems once the first remediation activities are up and running, so we are very much looking forward to achieving that objective and moving into positive cash flows and sustained growth."