Comstock(US:LODE)2025-05-08 21:30Financial Data and Key Metrics Changes - Comstock reported a significant increase in R&D expenses, which rose by $2,400,000 in Q1 compared to the prior year, primarily due to collaborations with the National Renewable Energy Lab (NREL) [9][11] - The company recorded a one-time non-cash expense charge of $1,500,000 during the quarter, impacting R&D spending [10] - Revenue from Comstock Metals soared to GBP 1,340,000 in Q1, a nearly fourfold increase from just over GBP 350,000 in the previous quarter [20][21] Business Line Data and Key Metrics Changes - Comstock Metals is expected to exceed its initial revenue guidance of $2,500,000 for the year, now projecting over $3,000,000 due to strong demand and new partnerships [21][22] - The company processed over 80,000 solar panels in Q1, with plans to scale up to 3,300,000 panels per year, indicating significant growth potential in the recycling business [23][36] Market Data and Key Metrics Changes - Comstock is the only R2 certified recycler in North America, which enhances its competitive position in the solar panel recycling market [24] - The company is actively winning business across multiple states, including Nevada, California, Florida, New Jersey, and Pennsylvania, indicating a broad market reach [25] Company Strategy and Development Direction - The strategic focus for Comstock is to establish a well-capitalized renewable fuels business through a direct spin-out and public offering, targeting at least $50,000,000 in Series A funding [38][39] - The company aims to deliver 200,000,000 barrels a year by 2035, leveraging high-yielding energy crops like xanograss for sustainable fuel production [39][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the mining sector, noting increased inquiries and interest in their mining assets due to rising gold and silver prices [43][46] - The company is focused on monetizing legacy real estate and non-strategic investments, with expectations of significant capital inflow from these efforts [42][46] Other Important Information - Comstock has engaged with sophisticated industry partners for technology and operations, enhancing its growth prospects [7][8] - The company has successfully eliminated significant cash obligations through strategic settlements, improving its financial flexibility [9][18] Q&A Session Summary Question: What is the plan and timetable for restarting or monetizing mining assets? - Management noted a bullish sentiment on gold prices and indicated that capital is starting to flow back into junior mining, which could benefit Comstock's assets [50][52] Question: Can you clarify the projected timeline for the expansion of the metals business? - The company expects to receive a permit for expanding storage in Q2, with financing and equipment orders planned for Q3, aiming for industry-scale production and revenue by Q2 of the following year [55][58] Question: What are the milestones for Comstock Fuels in the coming years? - Key milestones include the spin-out of fuels, securing additional funding, and establishing commercial supply agreements, with significant revenue expected from these initiatives [60][62]