Comstock Stock Price, News & Analysis

Comstock Inc. (NYSE: LODE) announced today, February 2, 2023, that CEO Corrado De Gasperis will participate in a panel at the Nevada Clean Energy & Transportation Conference in Reno, NV. The discussion will focus on manufacturing within the electrification supply chain. De Gasperis emphasized the importance of recycling critical battery-grade minerals to reduce fossil fuel dependence. The company also received a $2 million grant from the U.S. Department of Energy to develop a pre-pilot scale system for producing renewable fuels from biomass, promising improved yield and efficiency over conventional methods.

Comstock Inc. (NYSE: LODE) has received a $2 million grant from the U.S. Department of Energy to develop a pre-pilot scale system aimed at producing renewable fuels from biomass. The project will demonstrate a new pathway yielding over 80 gallons of renewable fuels per dry ton of feedstock at lower costs and improved efficiency. Collaborators include industry and academic leaders like Marathon Petroleum and the University of Nevada Reno. CEO Corrado De Gasperis emphasizes the potential for significant job creation and environmental benefits while supporting the Biden Administration's 2050 climate goals.

Comstock (NYSE: LODE) will be represented by its Executive Chairman and CEO, Corrado De Gasperis, at the 2023 Vancouver Resource Investment Conference on January 29-30, 2023. The company reports a consolidation of its properties in the Comstock and Silver City mining districts, now holding 605,000 ounces of gold and 5,880,000 ounces of silver in Measured and Indicated resources, with additional Inferred resources. Comstock collaborates with Quantum Generative Materials LLC to enhance mineral discovery through AI technology, aiming to streamline exploration costs and improve resource categorization. The company controls twelve square miles of mining claims, strengthening its market position.

Comstock Inc. (NYSE: LODE) recently revealed groundbreaking technologies that enhance the production of renewable fuels from woody biomass, aiming to neutralize over 40% of America's mobility emissions by 2050. The company projects yields exceeding 80 gallons per dry ton, with lifecycle greenhouse gas emissions reduced by over 80% compared to petroleum. Comstock's processes utilize abundant forestry residuals, potentially generating over 8 billion gallons of drop-in fuels annually. This approach aligns with Biden Administration's decarbonization goals, creating jobs and stimulating rural economies.

Comstock Inc. announced a significant increase in its mineral resources, with 605,000 ounces of gold and 5,880,000 ounces of silver reported as Measured and Indicated resources. Additionally, Tonogold Resources Inc. did not exercise their purchase option for Comstock's Lucerne properties, reverting full ownership to Comstock. The company’s total controlled mining claims now span twelve square miles. With high-grade drilling results from the Dayton project, which includes up to 2.95 ounces of gold per ton, Comstock plans advanced drilling programs to enhance resource discovery.

Comstock (NYSE: LODE) announced an update on its asset sales, expecting over $30 million in proceeds from selling non-mining properties and strategic investments. These transactions are anticipated to close in Q1 2023. Additionally, the company secured bridge financing through an 8.0% Convertible Promissory Note worth $3.15 million to facilitate these asset sales. The note will allow for cash redemption and conversion into common stock at $0.50 per share, providing financial flexibility to manage potential dilution while supporting growth.

Comstock Inc. (NYSE: LODE) announced high-grade mineral assays from its Dayton Consolidated Project, revealing gold assays as high as 2.95 ounces per ton and silver assays up to 6.68 ounces per ton. The company will present recent advancements in mineral discovery technologies at the Money, Metals & Mining Virtual Expo on December 7. An initial technical report, compliant with SEC guidelines, estimates resources of 293,000 ounces of gold and 2,120,000 ounces of silver. The detailed report is available on the company's website.

Comstock announced the publication of an independent technical report on its Dayton Consolidated Project. The report estimates mineral resources as of November 1, 2022, with 293,000 ounces of gold and 2,120,000 ounces of silver in Measured and Indicated categories, plus 90,000 ounces of gold and 480,000 ounces of silver in Inferred resources. The project features high-grade assays and a promising geological model. Comstock plans further drilling and exploration to enhance resource quality and growth potential.

Comstock Inc. (NYSE: LODE) announced significant advancements in its lithium battery recycling and renewable fuels sectors.

Key updates include receiving permits for lithium recycling facilities in Nevada and filing patents for new extraction processes to enhance efficiency and reduce costs.

Financially, total assets decreased to $116.5 million, while operating expenses reached approximately $3 million. The company reported a net loss of $5.3 million for Q3 2022, an improvement from $9.5 million in Q3 2021. Comstock anticipates over $25 million from asset sales and aims to monetize non-strategic assets to eliminate debt.