Friday, April 28, 2023
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Battery recycling facility sale. Recall that Comstock’s LINICO subsidiary agreed to sell its battery recycling facility in the Tahoe Reno Industrial Center and associated assets to American Battery Technology Corporation (OTCQX: ABML). LINICO had leased the facility with an option to purchase for $15.25 million, of which $3.25 million was paid. Comstock recently made the remaining $12.0 million payment to Aqua Metals, Inc. (Nasdaq: AQMS) to purchase the facility prior to closing its transaction with ABML.
Sale results in net cash inflows. As of April 21, Comstock has received $18 million in cash and 10 million restricted shares of American Battery Technology Corporation stock with the guarantee that Comstock will receive additional cash and/or shares if the proceeds for the shares are less than $6.6 million. Based on the April 27 closing price, the ABML shares are worth over $7.7 million. Comstock expects to receive an additional $3.0 million in cash on or before May 12, 2023.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.