Comstock Stock Price, News & Analysis

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.

Comstock Inc. (NYSE: LODE) announced a conference call scheduled for November 1, 2022, at 1:15 PM PDT to discuss its Third Quarter 2022 results and provide business updates. The event will include a moderated Q&A session following the prepared remarks. Interested participants must register in advance to receive confirmation details for joining the webcast. Comstock focuses on technologies that aid in global decarbonization by converting under-utilized resources into renewable fuels and products, aiming for significant financial and social benefits.

Comstock Inc. (NYSE: LODE) announced that the Lyon County Board of County Commissioners has granted unanimous approval for a Conditional Use Permit (CUP) for LINICO Corporation to establish a lithium-ion battery (LIB) pre-recycling storage facility in Mound House, Nevada. This facility aims to enhance regional recycling capabilities for LIBs, essential in supporting the growing demand for electric vehicles. LiNiCo's operations will complement its existing battery metal recycling facility in Storey County, which is crucial for recycling critical metals and addressing increasing lithium demand.

Comstock Inc. (NYSE: LODE) announced that its Executive Chairman and CEO, Corrado De Gasperis, will present at the 12th Annual Invitational LD Micro Main Event on October 26, 2022, from 4:00 to 4:30 p.m. PDT. De Gasperis expressed excitement about sharing advancements in their decarbonization technologies, focusing on cellulosic fuels and Li-ion battery metal recycling. These innovations aim to contribute to renewable energy solutions during a critical time for carbon reduction. Interested viewers can register to watch the virtual presentation.

Comstock Inc. (NYSE: LODE) has filed a grant application with the U.S. Department of Energy to develop a pre-pilot system for producing renewable fuels from forestry residues. The company has created a unique process to convert woody biomass into biointermediates, including Cellulosic Sugar and Bioleum, which can yield over 80 gallons of renewable fuel per dry ton of feedstock. The application is supported by a collaborative team, positioning Comstock to contribute to reducing U.S. mobility emissions and advancing net-zero goals by 2050.