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Comstock(LODE) - 2025 Q1 - Quarterly Report
2025-05-08 20:00
Renewable Fuel Production - Comstock Fuels plans to produce approximately 200 million barrels of renewable fuel per year by 2035, starting with a 400,000 barrel per year facility in Oklahoma[158]. - Comstock Fuels holds exclusive rights to intellectual properties developed by Hexas for producing energy crops with proven yields exceeding 25 to 30 dry metric tons per acre per year[157]. - The company invested $500,000 in Hexas for an exclusive worldwide license to its intellectual properties in liquid fuels applications[176]. - Comstock Fuels operates two pilot facilities in Wisconsin to enhance its biomass refining solutions and drive down costs[160]. Financial Performance - Revenue for the three months ended March 31, 2025, increased by $359,864 to $785,815 from $425,951 in the comparable 2024 period, primarily due to the commencement of the first commercial demonstration facility[180]. - Cost of goods sold for the three months ended March 31, 2025, increased by $886,796, attributed to the operation of the new facility at less than full capacity[180]. - Research and development expenses for the three months ended March 31, 2025, increased by $2,411,905 to $3,303,918 from $892,013 in the comparable 2024 period, mainly due to higher rent and project costs[183]. - Selling, general and administrative expenses decreased by $269,059 to $3,258,465 from $3,527,524, primarily due to lower employee-related costs[182]. - Net loss for the three months ended March 31, 2025, was $9,093,931, compared to a net loss of $6,918,320 in the same period of 2024, reflecting an increase of $2,175,611[179]. - Interest expense decreased by $159,517 to $659,144 from $818,661 in the comparable 2024 period, due to lower interest and amortization costs[185]. Segment Performance - The Metals Segment generated $401,238 in revenue during 2024 and tripled its billable revenues to $1,344,127 in Q1 2025 compared to all of 2024[162]. - The company aims to achieve higher revenues from its Metals Segment, projected at $748,765 for 2025, while anticipating lower revenues of $388,901 from its Mining Segment due to lease termination[190]. - The Mining Segment aims to monetize over $2.0 million from the sale of northern mining claims and advance the preliminary economic assessment for the Dayton Consolidated Project in 2025[170]. Capital and Investment - The company plans to invest approximately $5.0 million in research and development and over $10.0 million in payroll during 2025, totaling over $20.0 million in spending[212]. - Comstock Fuels is raising direct subsidiary financing for a $250 million integrated commercial demonstration biorefinery project, with $152 million allocated from the State of Oklahoma[210]. - Comstock Metals expects to build its first industry-scale facility in 2025 with a capacity of up to 100,000 tons per year, costing up to $12 million[211]. - The company has filed a new $50 million shelf registration statement and received a $3.0 million grant from the State of Oklahoma in 2025[213]. - The principal amount of the 2025 Kips Bay Note is $10,638,298, with $5,000,000 funded in cash on January 13, 2025, and the remaining $5,000,000 funded on March 11, 2025[215]. Liquidity and Financial Position - Cash balances at March 31, 2025, were $3,906,773, with current assets of $15,697,279 and current liabilities of $8,620,700, resulting in working capital of $7,076,579[207]. - In Q1 2025, the company generated $9,731,350 in cash from financing activities, compared to $3,131,934 in Q1 2024, reflecting a 210% increase[209]. - The company intends to fund operations over the next twelve months from revenues, government grants, and planned sales of non-strategic assets[216]. - Risks to liquidity may arise from operating expenditures exceeding management's expectations, which could adversely affect financial condition and cash flows[217]. Project Development - The company has received $152 million from the State of Oklahoma for project activity bonds to construct its first facility in Oklahoma[161]. - The first industry-scale facility is expected to operate at an initial capacity of 50,000 tons annually, with plans to double that capacity to 100,000 tons[198]. - Comstock owns 98 acres of industrial land and 160 acres of commercial land in Silver Springs, NV, which are being marketed for sale[178]. - The company received over $2.0 million from prior mineral leases and asset sales from northern claims[214]. Corporate Governance - The company has increased its authorized capital capacity through a 1:10 reverse stock split, positioning itself for future growth opportunities[193]. - There have been no significant changes to critical accounting estimates disclosed in the 2024 Form 10-K[218].
Comstock Metals Awarded the First R2v3/RIOS Certifications For Zero-Waste Solar Panel Recycling in North America
GlobeNewswire News Room· 2025-05-06 13:50
Core Viewpoint - Comstock Inc.'s subsidiary, Comstock Metals LLC, has achieved certification as the first solar panel recycling company in North America to meet the R2v3/RIOS Responsible Recycling Standard, specifically validating its zero-waste recycling process [1][2][3] Group 1: Certification and Process - Comstock Metals is certified to the R2v3/RIOS Responsible Recycling Standard, confirming its commitment to environmentally responsible recycling practices [1][2] - The certification process involved audits of Comstock Metals' downstream vendors to ensure compliance with safety and environmental standards [2] - The facility has been operational for over a year, demonstrating effective recycling processes [2] Group 2: Operational Excellence - Comstock Metals utilizes proprietary thermal methods to process solar panels, achieving 100% commodity-ready products from all components, including glass and aluminum [1][3] - The company emphasizes a reliable and predictable recycling process, ensuring that all materials are reused without waste [3][4] - The certification validates that Comstock Metals meets or exceeds environmental and safety standards at every step of the recycling process [3] Group 3: Leadership and Future Growth - The leadership team, including Dr. Fortunato Villamagna and Corrado De Gasperis, highlights the importance of their innovative systems designed for efficient and clean recycling [3][4] - Comstock Metals is positioned for rapid scaling and growth in the recycling industry, focusing on sustainable practices [4] - The company aims to uphold its commitment to environmental stewardship within the renewable energy value chain [3]
Comstock Resources: Leading Edge Of Industry Technology
Seeking Alpha· 2025-05-01 22:17
Group 1 - Comstock Resources, Inc. reported strong performance in the first quarter due to a significant rally in natural gas prices [2] - The focus of interest is on the Western Haynesville acreage, indicating potential for growth in the oil and gas sector [2] - The oil and gas industry is characterized as a boom-bust, cyclical industry, requiring patience and experience for successful investment [2] Group 2 - The analysis provided includes a breakdown of balance sheets, competitive positions, and development prospects of oil and gas companies [1] - Members of the Oil & Gas Value Research service receive early access to analysis and insights not available on the free site [1]
Comstock Resources: Western Haynesville Is A Transformative Asset (Rating Upgrade)
Seeking Alpha· 2025-04-29 21:14
Group 1 - Elliott Gue is a recognized expert in the energy sector, with extensive education and experience, including a bachelor's and master's degree from the University of London [1] - He has contributed to a well-regarded energy-focused research publication for seven years, showcasing his stock-picking abilities and expertise [1] - In 2008, he was acknowledged as "the world's leading energy strategist" during the G-8 Summit in Tokyo, highlighting his influence in the industry [1] Group 2 - In October 2012, Elliott Gue launched the Energy & Income Advisor, an online newsletter aimed at identifying profitable opportunities in the energy sector, including growth stocks and high-yielding utilities [1] - The publication also features analysis from Roger Conrad, focusing on master limited partnerships and Canadian energy stocks, ensuring comprehensive coverage of the sector [1] - Subscribers can expect in-depth analysis and rational assessments of investment opportunities in the energy sector, maintaining the publication's reputation despite changes in the masthead [1]
Comstock to Host First Quarter 2025 Earnings and Business Update Call
Globenewswire· 2025-04-29 10:30
VIRGINIA CITY, Nev., April 29, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) is pleased to announce that the Company’s Executive Chairman & CEO, Corrado De Gasperis, and COO, William McCarthy will be providing an overview of recent financial results and current business updates on Thursday, May 8, 2025, at 4:30pm ET. We invite all investors and other interested parties to register for the webinar at the link below. Date: Thursday, May 8, 2025Time: 4:30pm ETRegister: Webi ...
Comstock Gears Up to Report Q1 Earnings: Is a Beat in Store?
ZACKS· 2025-04-24 17:35
Comstock Resources, Inc. (CRK) is set to report first-quarter earnings on April 30, after the closing bell.Let us analyze the factors that are expected to have influenced CRK’s performance in the first quarter of 2025. Before that, it is worth taking a look at the company’s performance in the last reported quarter.Highlights of Q4 EarningsIn the last reported quarter, the exploration and production company’s earnings surpassed the consensus mark. CRK reported an adjusted earnings of 16 cents per share, whic ...
Comstock Metals and RWE Clean Energy Enter Strategic Solar Recycling Partnership
Newsfilter· 2025-04-16 10:30
VIRGINIA CITY, Nev., April 16, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE:LODE) announced today that its subsidiary, Comstock Metals LLC ("Comstock Metals"), a pioneer in sustainable, zero-landfill solar panel recycling has entered into a Master Services Agreement (MSA) with RWE Clean Energy, the U.S. subsidiary of leading global energy company, RWE. Comstock Metals will provide RWE with recycling, decommissioning, and logistics services for their expansive U.S. solar installations ensuring a zero-landfil ...
Comstock to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1x1 Meetings on Thursday, April 24, 2025
Globenewswire· 2025-04-10 10:30
VIRGINIA CITY, Nev., April 10, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock,” “our” and the “Company”), today announced that Corrado De Gasperis, Executive Chairman and CEO of Comstock, will be presenting at the Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub on Wednesday, April 23, 2025, at 8:00 AM Pacific Time. To access the live presentation, please use the following information: Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClubDate: Wednesday, ...
Comstock to Present at the Planet MicroCap Showcase: VEGAS in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1x1 Meetings on Thursday, April 24, 2025
Newsfilter· 2025-04-10 10:30
VIRGINIA CITY, Nev., April 10, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE:LODE) ("Comstock," "our" and the "Company"), today announced that Corrado De Gasperis, Executive Chairman and CEO of Comstock, will be presenting at the Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub on Wednesday, April 23, 2025, at 8:00 AM Pacific Time.   To access the live presentation, please use the following information: Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClubDate: Wednesday, ...
Comstock's Q4 Earnings Up Y/Y on ParkX Growth, Stock Soar 48%
ZACKS· 2025-03-26 19:05
Shares of Comstock Holding Companies, Inc. (CHCI) have gained 47.9% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 index’s 1.9% growth over the same time frame. Over the past month, the stock has gained 35.6% against the S&P 500’s 1.6% decline.See the Zacks Earnings Calendar to stay ahead of market-making news.Comstock reported fourth-quarter 2024 earnings per share of 99 cents, which rose from 18 cents in the prior-year quarter. Revenues of $16.9 m ...