CARSON CITY (AP) â¿¿ A company that wants to resume mining gold and silver at the site of the historic Comstock Lode in Virginia City has won approval of a necessary permit from state environmental regulators. Comstock Mining Inc. President Corrado De Gasperis says the Nevada Division of Environmental Protection approved the mercury permit that shows the company has the proper safety procedures in place to deal with the naturally occurring metal found in rocks in the region. Comstock Mining hopes to begin operations before the end of the year. The open pit project has drawn opposition from a number of residents in Virginia City, Gold Hill and Silver City because of its proximity to a state and national historic district.
In trading on Tuesday, shares of Comstock Mining Inc entered into oversold territory, changing hands as low as $0.92 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.