Comstock Details $50M Raise, Nevada Recycling Permits and Q2 Launch Timeline in Investor Webinar

Core Insights - Comstock Mining, Inc. successfully raised $50 million through an equity offering, with net proceeds of approximately $46.5 million, enhancing its cash position to over $60 million [2][6] - The company is advancing its solar panel recycling business, having received all necessary permits for its Silver Springs facility, which is set to begin operations in Q2 [5][7] - Comstock aims to develop a domestic refining solution for recovered metals, with plans for a demonstration-scale facility by 2027-2028 and industrial scale by 2028-2029 [14] Financial Overview - The equity offering was upsized from an initial target of $30 million due to high demand [2] - The company issued 18.2 million additional shares, increasing total shares outstanding to approximately 71.3 million, with potential to exceed 74 million [1][6] - Comstock reports zero debt and has extinguished several non-debt obligations as part of its balance sheet actions [6] Operational Updates - The Silver Springs facility will utilize a chemical-free, "zero landfill" process, capable of processing a solar panel every seven seconds [5][8] - The business model includes tipping fees of about $500 per ton and additional revenue from selling recovered materials, with a cost of approximately $150 per ton [4][11] - Management emphasizes the importance of silver prices on revenue, indicating that higher prices could significantly increase tailings revenue [12] Expansion Plans - Proceeds from the equity offering will accelerate the establishment of a second facility near Las Vegas, with permits expected to be filed soon [13] - The company is also exploring additional sites for future facilities, aiming for a broader network without premature construction [13] - Comstock is focusing on a domestic refining process to capture more value from metals contained in tailings, including copper and gallium [12][14] Customer and Contract Insights - The company has approximately 6,000 tons of material staged for processing, indicating growing customer interest [16] - Comstock typically engages in master service agreements with major solar utility companies, which serve as operational roadmaps rather than "take-or-pay" contracts [17] - Tipping fees have remained stable, with pricing based on the value of liability removal and related services [18] Other Business Updates - Comstock has fully acquired RenFuel and is preparing to relaunch a Series A raise for its fuels initiative [19] - The company is evaluating monetization opportunities for its mining assets, driven by higher precious metals prices [21] - Increased ownership guidelines for directors and officers may lead to additional share purchases [22]