Comstock Stock Price, News & Analysis

Comstock Inc. (NYSE: LODE) expressed gratitude to shareholders in a recent letter from its executive chairman and CEO, highlighting successful integration of acquisitions and technological breakthroughs in various sectors. The company is focused on commercializing innovative technologies for decarbonization, emphasizing significant advancements in its renewable fuels and metals recycling initiatives. Comstock aims to finalize licensing agreements that could yield long-term royalty revenue and has made strides in confirming substantial mineral resources across its properties. The company is also developing generative AI capabilities through its subsidiary, GenMat, with plans for broader engagement and transparency with investors through events planned for 2023.

Comstock Inc. (NYSE: LODE) announced significant changes to its Board of Directors as of April 5, 2023. Dr. Güez Salinas was appointed as a new independent director, bringing over 30 years of expertise in engineering, finance, and cyber-security. Mr. Walter 'Del' Marting has been named Chairman of the Audit and Finance Committee, succeeding Mr. Judd Merrill, who resigned. Dr. Salinas' background includes advising GenMat and establishing initiatives in cyber-security, enhancing the company's focus on generative AI. Mr. Marting, a seasoned executive since 2018, has significant experience in finance and governance. The changes aim to strengthen the board's capabilities and align with the company's goals in innovative technology commercialization.

Comstock Inc. (NYSE: LODE) announced significant asset sales through its subsidiary, LINICO Corporation, which include a $27 million deal with American Battery Technology Company (ABTC) for the Battery Recycling Facility in Nevada. Following prior agreements, Comstock expects net proceeds of over $14 million from these transactions.

On top of this, the company has already collected $6 million from other equipment sales and will receive $5 million in cash along with 10 million restricted shares of ABTC stock. The proceeds are anticipated to enhance Comstock’s positioning in the battery recycling and metals industries as they tap into new market opportunities.

Executive Chairman Corrado De Gasperis emphasized the strategy behind the sales, linking them with the company's expansion in battery metal storage and recycling operations.

Comstock Inc. (NYSE: LODE) announced its participation in the Channelchek Takeaway Series from the PDAC 2023 Mining Convention, scheduled for March 21, starting at 9:45 AM EDT. Executive Chairman and CEO Corrado De Gasperis will present on the company’s extensive mineral holdings and innovative exploration methods, including AI-driven analytics. The series, featuring insights from various executives, aims to provide valuable information to investors interested in the mineral exploration sector. The event is free for virtual attendees, with registration details available on Channelchek's website.

Comstock Inc. (NYSE: LODE) reported its full year 2022 results and 2023 outlook, emphasizing commercial readiness in renewable fuels, AI technologies, and metals recycling. Notable achievements included the production of advanced carbon-neutral fuels with yields nearing 100 gallons per dry tonne of biomass, and significant advancements in AI for materials discovery. Financially, the company experienced a net loss of $46.7 million in 2022, up from $24.6 million in 2021, attributed mainly to rising research and operational costs. Comstock aims for revenue generation through licensing deals in 2023, with a focus on executing commercial agreements and enhancing technology readiness.

Quantum Generative Materials has launched ZENO, a generative AI that accelerates material simulations significantly faster than conventional methods. This technology assesses vital material properties such as conductivity and magnetic features, optimizing product development. A specialized team of scientists and engineers supports ZENO's capabilities using advanced computing platforms. The CEO emphasized ZENO's potential to lower trial and error costs and foster material discovery. GenMat, founded in 2021, aims to revolutionize material development and is backed by Comstock Inc. (NYSE: LODE), expanding its capabilities in material simulation.

Comstock Inc. (NYSE: LODE) announced that David Winsness, President of Comstock Fuels, will present at the 2023 Advanced Bioeconomy Leadership Conference (ABLC) on March 22, 2023, in Washington, D.C. Winsness will receive the Bioeconomy 500 award for his leadership in the bioeconomy. The conference focuses on technologies supporting the circular bioeconomy. Comstock’s patented technology utilizes unused woody biomass to produce high yields of carbon-neutral fuels, including cellulosic ethanol and Bioleum™, offering significant financial incentives for decarbonization. The company aims to license these technologies to early adopters.

Comstock Inc. (NYSE: LODE) will host a conference call on March 16, 2023, at 1:15 p.m. PDT to discuss its 2022 year-end results and business updates. The event will include a moderated question and answer session, and participants are encouraged to register in advance. Comstock focuses on technologies aimed at global decarbonization and circularity, converting under-utilized resources into renewable fuels and advanced materials. Investors can expect insights on future market conditions, exploration activities, and potential business opportunities during the call.

Comstock Inc. (NYSE: LODE) announced the sale of its LiNiCo subsidiary's facility in McCarran, Nevada, for $27 million. This deal allows Comstock to realize net proceeds of approximately $12.5 million, turning a prior $12 million cash obligation into a cash inflow. The facility, which was leased for $15.25 million, is pivotal for LiNiCo's lithium-ion battery recycling operations. Comstock expects to leverage its new battery storage facility in Mound House, enhancing its capacity in the electrification supply chain. The company aims to expand its technologies and pilot operations, targeting growth in recycling critical metals.