Monday, April 08, 2024
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.
First quarter 2024 perception report. RB Milestone, Comstock’s investor relations firm, released its first quarter 2024 stakeholder perception report which provides insight into Comstock’s operational milestones and strengths and weaknesses as perceived by stakeholders. The accompanying presentation highlighted the achievement of significant company milestones, notably in its Metals and Fuels segments. An underreported point made during the presentation is that Comstock has approximately $225 million of net operating loss tax carry-forward that may be used to offset gains from sales of non-core assets and future profits.
Growing customer commitments. During the first quarter, Comstock Metals received all permits for its solar panel recycling facility and began commissioning the plant. Comstock Metals has received over 60 tons of end-of-life solar panels for which it has received cash and expects to begin recognizing revenue in the second quarter as the panels are processed. Supplier commitments have exceeded expectations and Comstock is preparing permits for its first industry-scale facility.
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