Core Viewpoint - Comstock Inc. has opened a new facility in California for recycling end-of-life solar panels, receiving certification from the Department of Toxic Substances Control, positioning itself as a leader in environmentally responsible solar panel recycling in North America [1][2][3] Group 1: Facility and Certification - The new facility in Kings County, CA, is the only certified, zero-landfill solar recycling solution in North America, allowing California companies to recycle end-of-life photovoltaic (PV) modules [1] - The facility has been approved by California's DTSC and is now on a select list of companies authorized to treat PV modules, providing a local solution for recycling [1][2] Group 2: Market Demand and Services - As more solar panels reach the end of their useful life, there is a growing demand for compliant and environmentally responsible recycling solutions in California, Arizona, and Nevada [3] - The facility is designed to serve major utilities, developers, engineering and construction firms, installers, decommissioning contractors, and asset owners, offering a reliable option for managing environmental liabilities [3] Group 3: Strategic Positioning and Future Plans - The California facility enhances Comstock Metals' southwestern recycling network, optimizing logistics to support California's high demand for solar panel recycling [2] - The company is also preparing plans for a second integrated facility in Nevada, with final site selection expected soon, indicating ongoing expansion efforts [4]

Core Viewpoint - Comstock Resources is actively working to reduce costs in the Western Haynesville region, which may have surprised the market despite being anticipated [2] Group 1: Company Analysis - Comstock Resources has proposed solid strategies to decrease operational costs in the Western Haynesville area [2] - The company has added three rigs to enhance its operational capacity [2] Group 2: Industry Insights - The oil and gas industry is characterized by boom-bust cycles, requiring patience and experience for successful investment [2] - The focus is on identifying undervalued and under-followed oil companies, as well as out-of-favor midstream companies that present compelling investment opportunities [2]

Core Insights - Comstock Resources, Inc. (CRK) reported fourth-quarter 2025 adjusted earnings of 16 cents per share, exceeding the Zacks Consensus Estimate of 11 cents, with revenues of $789.8 million surpassing the estimate of $467.9 million and increasing from $366.5 million year-over-year [1][10] Group 1: Operational Performance - Total production averaged 111,257 million cubic feet equivalent (MMcfe), down from 124,185 MMcfe in the same quarter last year, with natural gas production declining to 111,239 million cubic feet (MMcf) from 124,128 MMcf [2] Group 2: Price Realization - Average natural gas price realization (before hedging) was $3.29 per thousand cubic feet (Mcf), up from $2.32 per Mcf in the prior-year quarter, while total price realization (before hedging) averaged $3.30 per thousand cubic feet equivalent (Mcfe), compared to $2.32 per Mcfe in the fourth quarter of 2024 [3] Group 3: Costs & Expenses - Total production costs were 77 cents per Mcfe, an increase from 72 cents per Mcfe a year ago, with lease operating expenses remaining flat at 25 cents, and gathering and transportation expenses rising to 38 cents from 36 cents per Mcfe [4] - Total operating expenses for the quarter were $409.8 million, higher than $368.4 million reported a year ago, with gas services expenses increasing to $131.1 million from $72.6 million in the fourth quarter of 2024 [5] Group 4: Financial Position - As of December 31, 2025, Comstock Resources reported long-term debt of $2.8 billion and cash and cash equivalents of $23.9 million [6] - Total exploration and development capital expenditures in the fourth quarter amounted to $269.8 million, with operating cash flow at $222.3 million [7] Group 5: Outlook - Comstock Resources anticipates total production in the first quarter of 2026 to be between 1,075-1,150 million cubic feet equivalent per day (MMcfe/d), with capital spending projected at $275 million-$325 million, lease operating expenses expected between 25 cents and 29 cents per Mcfe, gathering and transportation expenses projected at 34 cents to 40 cents per Mcfe, and production and other taxes anticipated between 18 cents and 22 cents per Mcfe for the first quarter of 2026 [8]

Core Insights - Comstock Inc. and its subsidiary Comstock Metals are leaders in the responsible recycling of end-of-life solar panels, offering the only certified zero-landfill solar recycling solution in North America [1][4] - The company was featured on the Water Tower Research Small-Cap Spotlight Podcast, discussing the end-of-life solar panel dilemma and the innovations needed for effective recycling [2][3] Company Overview - Comstock Inc. focuses on innovating and commercializing technologies that support clean energy systems by extracting and converting under-utilized natural resources into reusable metals, including silver, aluminum, and gold, primarily from end-of-life photovoltaics [4] - The company is accelerating the development of domestic recycling facilities and refining solutions for critical metals [7] Industry Context - The podcast highlights the significant challenge posed by millions of end-of-life solar panels and the need for environmentally safe recycling methods [2] - Comstock Metals is positioned as a first mover in the end-of-life solar recycling market, which is expected to grow as the demand for sustainable solutions increases [7]

Core Insights - Comstock Inc. and its subsidiary Comstock Metals have received approximately $900,000 in tax abatements from the Nevada Governor's Office of Economic Development for their solar panel recycling facility [2][3] - The facility is set to begin production in Q2 2026, with an initial capacity to recycle about 3.3 million solar panels or 100,000 tons of material annually [2] - The operation is expected to create at least 43 jobs and generate over $12 million in capital investments within the first year [3] Company Overview - Comstock Inc. focuses on innovating and commercializing technologies for clean energy systems, particularly through the recycling of end-of-life solar panels to extract reusable metals [5] - The company aims to establish itself as a leader in the domestic supply chain for critical metals, including silver, copper, and silicon, through its recycling processes [4]

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]

Core Viewpoint - Comstock Inc. is conducting a Business Update Webinar to provide insights into its operations and future outlook, featuring key executives including the Executive Chairman and CEO, CFO, and President of Comstock Metals [1][3]. Group 1 - The webinar is led by Zach Spencer, who serves as the Director of External Relations, Treasurer, and Secretary [1]. - The session will include a Q&A segment, addressing pre-submitted questions and additional inquiries from participants during the call [2]. - The discussion will feature forward-looking statements, with a caution that actual results may differ due to various risks and uncertainties [2].

Comstock Inc. Business Update Webinar Summary Company Overview - **Company**: Comstock Inc. - **Industry**: Solar panel recycling and critical metals refining Key Points and Arguments Financial Performance and Capital Raising - Comstock raised $50 million in an equity offering, initially targeting $30 million, due to overwhelming demand from institutional investors, achieving a 5x oversubscription [3][5] - The net proceeds after fees were $46.5 million, increasing the cash position to over $60 million [5][6] - The offering fully funded the first facility and eliminated all debt obligations, resulting in a stronger balance sheet with zero debt [6] Facility Development and Permits - Comstock received all necessary permits from the Nevada Department of Environmental Protection for facility number one and is preparing to file for facility number two [2][3] - Plans include ordering equipment for facility number two and accelerating site selections for additional facilities [4][25] - The first facility is on schedule to be operational in Q2 of the current year, with a focus on a zero landfill solution [11][17] Market Dynamics and Customer Engagement - The company has secured master service agreements with major solar utility companies across the U.S., facilitating customer engagement and service delivery [42][43] - There is a growing demand for solar panel recycling as customers face end-of-life issues with panels deployed over 20 years ago [39][40] - Comstock is positioned to handle large volumes of panels, with a current backlog of 6,000 tons of material waiting to be processed [41] Economic Outlook and Metal Prices - The company anticipates significant revenue from recycling operations, projecting billings to increase from $500,000 in 2024 to over $3.5 million, with actual billings reaching $3.51 million [10] - Current silver prices have surged to $85 per ounce, significantly enhancing the economic viability of the recycling operations [12][28] - The company expects to generate substantial profits from the recovery of metals, with projections indicating potential revenues of $60 million annually from a single facility [20][29] Competitive Advantage and Market Position - Comstock claims to be two years ahead of competitors in securing permits and establishing operational capabilities in the solar recycling market [17] - The company emphasizes its unique zero landfill solution, which differentiates it from competitors and aligns with regulatory compliance [16][17] - The market for end-of-life solar panels is expected to grow significantly, with projections of 33 million panels reaching end-of-life by 2030 in the U.S. alone [20][21] Future Plans and Strategic Focus - Comstock aims to expand its facility network across the U.S., with plans for additional sites in Nevada, Ohio, and California [25][52] - The company is exploring international opportunities but remains focused on dominating the U.S. market first [54][55] - There are ongoing discussions regarding refining solutions to maximize the recovery of critical metals, which could further enhance profitability [28][29][63] Management and Governance - The management team, including directors, is committed to increasing their ownership in the company, reflecting confidence in its future prospects [73] Additional Important Information - The company is actively working on refining processes to recover metals from solar panel waste, utilizing established technologies to ensure efficiency and compliance [60][62] - Comstock has integrated recent acquisitions, such as RenFuel and Hexis, into its business strategy, enhancing its technological capabilities [65][66] This summary encapsulates the key points discussed during the Comstock Inc. Business Update Webinar, highlighting the company's financial health, operational plans, market dynamics, and strategic focus in the solar recycling industry.

Core Viewpoint - Comstock Inc. will provide an overview of its recent business and financial developments in a webinar scheduled for February 3, 2026, at 11:00am ET, inviting investors and interested parties to register [1][2]. Company Overview - Comstock Inc. specializes in innovating and commercializing technologies, systems, and supply chains that support clean energy systems by efficiently extracting and converting under-utilized natural resources into reusable metals, such as silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics [3]. Communication Strategy - The company utilizes its investor relations link and main website, along with social media platforms like X.com, LinkedIn, and YouTube, to disclose material non-public information and comply with disclosure obligations under Regulation FD [4].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Serina Therapeutics, Inc. (SER) increased by 52% to $4.13 - Digital Currency X Technology Inc. (DCX) rose by 37% to $4.21 - Virtuix Holdings Inc. Class A Common Stock (VTIX) gained 31% to $14.00 - Venu Holding Corporation (VENU) saw a 25% increase to $6.45 - TRX Gold Corporation (TRX) was up 18% to $2.29 - Korro Bio, Inc. (KRRO) increased by 17% to $13.69 - Check-Cap Ltd. (MBAI) rose by 15% to $2.40 - Namib Minerals (NAMM) gained 14% to $7.35 - Austin Gold Corp. (AUST) increased by 11% to $2.84 - SuperX AI Technology Limited (SUPX) was up 9% to $19.12 [3] Premarket Losers - Inuvo, Inc. (INUV) decreased by 26% to $2.42 - Comstock Inc. (LODE) fell by 16% to $2.95 - Joby Aviation, Inc. (JOBY) dropped 14% to $11.40 - ENvue Medical, Inc. (FEED) declined by 12% to $2.02 - Whirlpool Corporation (WHR) was down 10% to $72.25 - USA Rare Earth, Inc. (USAR) decreased by 10% to $22.66 - ServiceNow, Inc. (NOW) fell by 9% to $117.41 - Pinnacle Food Group Limited (PFAI) dropped 9% to $2.15 - BiomX Inc. (PHGE) decreased by 8% to $5.91 - Vyome Holdings, Inc. (HIND) was down 8% to $2.32 [4]