Comstock Announces Full Year 2024 Results

Core Insights - Comstock Inc. achieved all 2024 objectives for its metals and fuels segments, establishing market leadership in photovoltaic recycling and securing multiple commercial agreements for future revenue generation [2][4] - The company plans to spin off Comstock Fuels, resulting in two high-growth public companies focused on renewable metals and fuels [2][18] Comstock Metals - The metals segment's performance in 2024 is expected to be surpassed in 2025, with secured business in Q1 2025 projected to be five to six times the total revenue of 2024 [4][24] - The first commercial demonstration facility has been operating for nearly a year, with plans for industry-scale facilities anticipated to operate at 100,000 tons of annual capacity [23] Comstock Fuels - Comstock Fuels has developed advanced zero-landfill photovoltaic recycling technology, achieving 100% recovery of materials and expanding revenue-generating supply commitments [6][19] - The company aims to produce 200 million barrels (over 8 billion gallons) of fuel per year by 2035, utilizing waste and farmed crops [8][22] Financial and Strategic Developments - The company secured $152 million in Qualified Private Activity Bonds and$3 million in incentive awards from Oklahoma's Quick Action Closing Fund [12] - A one-for-ten reverse stock split was executed, increasing the authorized capital capacity to support growth plans [12][14] Market Outlook - Rising industrial silver demand and geopolitical concerns are expected to drive silver prices higher, positioning Comstock's mining assets for expansion and monetization [10][28] - The company anticipates significant growth in both fuels and metals sectors, with plans for multiple industry-scale facilities starting in Nevada and Oklahoma [11][29]