Comstock Releases Shareholder Letter

Core Viewpoint - Comstock Inc. is undergoing a strategic transformation into an innovator and integrator of commercially ready technologies aimed at enabling energy independence and dominance, with significant support from shareholders [1][2]. Group 1: Business Transformation and Technology Development - Since 2021, Comstock has invested in technologies and supply chains that position the company to lead in energy solutions, with a focus on sustainable and low-carbon fuel solutions [2][3]. - Comstock Fuels is deploying proprietary low-carbon fuel solutions, while Comstock Metals is focused on sustainable metal recycling, producing critical materials for renewable energy supply chains [3][4]. - The company has established a platform for growth by investing in new ideas and technologies, creating a foundation for significant shareholder opportunities [4][5]. Group 2: Operational Achievements and Market Position - Comstock Metals has ramped up operations and gained world-class customers, while Comstock Fuels has signed five international agreements, yielding up to 140 gallons of fuel per dry metric ton of feedstock [6][7]. - The company has demonstrated readiness to key industry partners across various jurisdictions, expanding relationships with suppliers, landowners, and potential capital partners [7][12]. Group 3: Future Growth Objectives - Comstock aims to establish three commercial facilities for renewable metals and multiple facilities for renewable fuels by 2029, starting in Nevada and Oklahoma [8][10]. - The company is engaged with strategic and financial partners for equity and debt financing to support profitable growth and enhance shareholder value [10][11]. Group 4: Capital Structure and Shareholder Engagement - A special meeting is scheduled for February 14, 2025, to vote on increasing authorized shares, which may include a reverse stock split to attract necessary capital resources [13][15]. - The company is evaluating transformative transactions, including a potential spin-off of Comstock Fuels Corp., to create two high-growth public companies [14][15].