Wednesday, October 23, 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.
Pending transaction with SBC Commerce. Comstock recently executed an indicative term sheet for $325 million, or $315 million net of transaction fees, in funding through SBC Commerce LLC (SBCC), a U.S. based private equity group. The transaction is contingent on final due diligence and applicable regulatory approvals and is expected to close in tranches over the next several months. When the transaction was announced, it contemplated SBCC taking equity ownership positions in each business unit commensurate with the amount of its investment. Increasingly, it appears that a portion of the transactions could include debt which could have implications for our valuation which is currently based on the terms summarized in the original release.
Third quarter 2024 achievements. Comstock achieved significant milestones during the third quarter, including executing an exclusive license and cooperative research and development agreement with the Department of Energy’s National Renewable Energy Laboratory, executing an international license agreement for three industry scale fuel hubs, recording first revenues from the sale of recycled aluminum and announcing new contracts with new customers for the decommissioning and disposal of solar panels.
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.