Comstock spustil v Nevadě nepřetržitý provoz 24/7 v průmyslovém závodě na recyklaci solárních panelů s roční kapacitou 3,3 milionu panelů. Firma chce vyrábět čistý hliník, sklo a minerálně bohaté zbytky.
3 Micro-Caps Set for Major Moves: Balancing Risk and OpportunityComstock NYSEAMERICAN: LODE has begun continuous operations at its industrial-scale solar-panel recycling facility in Nevada, marking what Chief Executive Officer Corrado De Gasperis described as a significant step in the company’s shift toward renewable metals and commercialization of its technologies.
Speaking at the Lytham Partners Fall 2026 Investor Conference, De Gasperis said the facility is operating 24 hours a day, seven days a week. He characterized the operation as reaching technology readiness level 8, a stage generally associated with systems demonstrated at industrial scale.
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“We’re up and running. We’re running 24/7. We’re running at scale,” De Gasperis said, adding that the company does not see other companies currently operating a comparable process.
Solar recycling capacity and process The Nevada facility has annual capacity to process 3.3 million solar panels, according to De Gasperis. Its processing system includes four ovens, with each oven representing roughly 25% of total facility capacity. The company has also completed an adjacent storage facility for panels awaiting processing.
De Gasperis said the recycling process is designed to separate contaminants and produce clean aluminum, glass and mineral-rich tailings. The company has further worked to separate residual metals from recovered glass in an effort to meet specifications sought by glass-reprocessing customers.
According to De Gasperis, the process is intended to avoid generating hazardous waste while reducing liability for customers disposing of end-of-life solar panels. The facility includes environmental-control equipment, including a scrubber for potential particulates or opacity, he said.
The plant also uses two robotic arms to feed panels into the system. De Gasperis said the automation supports a targeted processing pace of one panel every seven seconds or less.
Annual capacity: 3.3 million solar panels Processing configuration: Four ovens at the Nevada facility Operations: Continuous, 24-hour and seven-day-per-week production Output materials: Clean aluminum, clean glass and mineral- or silver-rich tailings Comstock is also developing methods to extract higher-value materials from the tailings, including silver, copper, silicon metals and silica, De Gasperis said. In some cases, the tailings may contain rarer materials as well.
Expansion planning and market development De Gasperis said Comstock has designed a second recycling facility intended for the Mid-Atlantic and Midwest markets, including Ohio, Pennsylvania and Indiana. The planned facility would initially use one oven but would use the same process and could eventually expand to four ovens, he said.
The company has not yet committed capital to construct the second facility. De Gasperis said the approach is intended to support “intelligent capital deployment” while allowing for faster expansion as demand develops.
Comstock selected Nevada for its first facility in part because older solar-panel installations in California, Arizona and Nevada created a substantial nearby market, De Gasperis said. He also identified Ohio, North Carolina, Florida and Texas as markets where solar panels are reaching end of life.
While panels are currently being shipped from across the country to Nevada, De Gasperis said the company views that activity as evidence of limited recycling alternatives for customers. He said Comstock is willing to absorb temporarily higher shipping costs in some circumstances to develop national accounts, secure key customers and build market share.
The company plans to operate the Nevada plant at about 25% of its capacity for several months to demonstrate its stability and unit economics before expanding market activity through 2027 and 2028, De Gasperis said. Over time, he said, Comstock’s goal would be to establish recycling facilities in multiple locations, with five facilities viewed as an ideal footprint.
Silver Springs opportunity Beyond renewable metals, De Gasperis discussed Comstock’s interest in Sierra Springs Opportunity Fund Inc., a land platform in Silver Springs, Nevada. He said the region benefits from Nevada’s economic and tax environment, federal Opportunity Zone advantages, improved highway connectivity and interest from technology and data-center-related development.
De Gasperis cited Microsoft and Tract as companies breaking ground in the Silver Springs area, while noting that the region’s local and state governments have been supportive of development. He said Comstock also maintains investments in renewable fuels, though the company’s capital allocation and primary focus are centered on renewable metals.
About Comstock (NYSEAMERICAN:LODE)Comstock Inc is a technology and natural resources company focused on developing solutions for the energy transition and the circular economy. The company's activities include renewable fuels, solar technology and mineral processing, with an emphasis on converting underused or waste materials into products that can support lower-carbon energy systems.
Through its Comstock Fuels business, the company is developing technologies intended to convert woody biomass and other non-food feedstocks into renewable fuels.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Comstock provozuje první průmyslovou solární recyklační linku nepřetržitě a ve 4. čtvrtletí chce dosáhnout 25% využití. Závod v Nevadě má kapacitu až 3,3 milionu panelů ročně.
3 Micro-Caps Set for Major Moves: Balancing Risk and OpportunityComstock NYSEAMERICAN: LODE is operating its first industrial-scale solar-panel recycling facility continuously and plans to increase utilization to 25% during the fourth quarter, Chief Executive Officer Corrado De Gasperis said during a Water Tower Research conference session.
De Gasperis described renewable metals and solar recycling as the company’s flagship activity and said the Nevada facility has moved beyond the early commercialization stage. The operation runs 24 hours a day, seven days a week, and its initial production line is designed to process up to 3.3 million solar panels annually, he said.
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The company’s process is intended to recycle panels without generating landfill waste while producing materials including aluminum and glass for sale. De Gasperis said the facility’s continuous operation demonstrates the system can function at an industrial scale and supports Comstock’s effort to build a broader renewable-materials supply chain.
Growing End-of-Life Panel Volumes According to De Gasperis, more than 4 million solar panels are reaching end of life annually, and that volume could increase by five to 10 times over the next five to 10 years. He said original assumptions that panels would remain in service for 25 to 30 years have proven too optimistic, with some panels now being removed roughly a decade earlier than expected.
He said the problem has become more pressing for panel owners because damaged and retired modules may be stockpiled, improperly stored, scrapped or sent to landfills. Delays in replacing older panels can shift the liability but do not eliminate it, he said.
Comstock is focusing on large utility-scale customers and original equipment manufacturers, with De Gasperis identifying companies such as RWE and NextEra Energy among the largest participants in the market. He said large utility-scale customers represent more than 80% of the addressable market as characterized by the company.
Technology and Operating Ramp De Gasperis said the key technical challenge in solar recycling is removing laminates, plastics, adhesives and other contaminants from panels while recovering materials that can be sold. If contaminants are not removed effectively, he said, recyclers can instead generate hazardous waste.
He said Comstock’s process is designed to eliminate contaminants while producing clean materials at high speed and scale. De Gasperis said he believes competitors are at least two to three years away from being able to deploy a comparable process, though he acknowledged that estimate could prove shorter or longer.
The company has said it is targeting 25% utilization in the coming months during the fourth quarter. At that level, De Gasperis said the facility would demonstrate continuous operation across each stage of the process, support validation of unit economics and become a positive source of cash rather than a use of cash from plant operations.
Comstock is processing a backlog of panels accumulated over the prior 12 months and beyond, he said. The company’s ability to issue certificates of destruction is also important for customers seeking confirmation that panels have been fully and cleanly disposed of, according to De Gasperis.
Silver Recovery and Network Expansion In addition to aluminum and upgraded glass, Comstock is developing a pilot project intended to recover silver from recycling tailings. De Gasperis said the company aims to produce evidence before year-end on whether it can process one ton of tailings per day and achieve sufficiently high silver recovery yields.
He said the project remains a development effort and its technical and economic feasibility has not been established. The pilot is intended to provide enough scale to assess unit economics and potential capital requirements for a larger operation.
Comstock is also considering future recycling locations in Ohio, Texas, Nevada and on the East Coast. De Gasperis said proximity to customers and solar-panel deployments would help reduce logistics costs. While the company views the Southwest as a major long-term market, he said Ohio has moved into the leading position for a second site because of customer activity and relationships with national customers and OEMs.
He said stable operation at the existing facility, along with growing panel flows, orders and master service agreements, would be prerequisites for committing production capital to another location.
Sierra Springs Monetization Effort De Gasperis also discussed Comstock’s Sierra Springs asset, which he characterized as a powered-land opportunity rather than solely a land sale. He said potential counterparties are evaluating factors including entitled land, expansion capacity, power availability, water, fiber infrastructure, regulatory conditions and local community support.
Demand for such infrastructure has increased despite broader debate surrounding data centers and artificial intelligence, he said, while available supply appears to be declining. Comstock is working with advisors and partners as it prepares to engage sophisticated counterparties, with De Gasperis saying the company expects significant work over the next three to four months.
Looking ahead, he highlighted continuous plant operations, the 25% utilization target, the silver-extraction pilot and the marketing process related to Sierra Springs as key areas of focus.
About Comstock (NYSEAMERICAN:LODE)Comstock Inc is a technology and natural resources company focused on developing solutions for the energy transition and the circular economy. The company's activities include renewable fuels, solar technology and mineral processing, with an emphasis on converting underused or waste materials into products that can support lower-carbon energy systems.
Through its Comstock Fuels business, the company is developing technologies intended to convert woody biomass and other non-food feedstocks into renewable fuels.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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SILVER SPRINGS, Nev., Sept. 22, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible, zero-landfill recycling of end-of-life solar panels with North America’s first certified operations, announced that the Company’s Solar Panel Recycling Production system is now operating continuously at its Silver Springs, Nevada facility.
“Following dedicated work preparation with our production supervisors and operating staff across the four shift teams, we have now successfully graduated to continuous operations,” stated Dr. Fortunato Villamagna, President of Comstock Metals. “We are grateful for the dedicated efforts and support of our entire team, our strategic suppliers, contractors, regulators and the broader Silver Springs community for making this first-of-a-kind operation possible.”
By establishing this continuous processing model in Silver Springs, Comstock Metals solidifies its market-leading position at the forefront of responsible, zero-landfill recycling of end-of-life solar panels. The facility's transition to continuous production ensures an efficient, high-volume, zero-landfill solution that eliminates disposal-related environmental liabilities for our utility-scale solar customers and provides them with certified, audit-ready chain-of-custody documentation validating that their end-of-life regulatory obligations have been fully discharged. The Company will now ramp up its production platform to meet increasingly higher customer volume demands.
The plant addresses a challenge the industry is only beginning to confront. As the installed base of solar panels approach the end of their operating lives, the volume of end-of-life panels requiring responsible processing is projected to grow sharply, far outpacing the industry's current capacity.
With Silver Springs operating continuously and additional storage capacity in place at its Hanford, CA and Cambridge, OH facilities, Comstock believes it is one of the few, if not the only, true domestic recyclers positioned to absorb the anticipated flow of end-of-life panels at the volumes utility-scale generators will require, without compromising the zero-landfill and chain-of-custody standards that customers depend on.
"The successful transition to continuous processing represents the most meaningful operational milestone to date for our expanding recycling platform," stated Corrado De Gasperis, CEO of Comstock Inc. "We have methodically developed, deployed, tested and are now continuously operating. We believe the technical implementation hurdles and uncertainties related to the first-time scaled deployment of our proprietary Solar Panel Recycling Production system have now been overcome. With demonstrable continuous production, our focus now turns to volume ramp.”
About Comstock Metals
Comstock Metals is a national leader in the environmentally responsible, zero-landfill recycling of end-of-life solar panels and related energy infrastructure. Comstock Metals’ internally developed recycling technologies and continuous innovation produce recovered materials that strengthen domestic supply chains for advanced technologies while helping customers eliminate the economic, environmental, and reputational liabilities associated with end-of-life panel management. To learn more and stay up to date, visit www.comstockmetals.com and follow Comstock Metals on LinkedIn and YouTube.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics and renewable fuels, chemicals and animal feedstocks, primarily derived from proprietary crops from its wholly-owned Hexas Biomass Inc. and other forms of woody biomass for energy.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
Mackay Gold & Silver získá severní část Comstock Lode včetně historického Big Bonanza za 6,3 milionu USD a poprvé sjednotí celý 6km úsek Comstock Lode pod jedním vlastníkem. Akvizice rozšíří jeho pozemky o 392 hektarů na 4 747 hektarů.
Consolidates the northern section of the Comstock Lode, host to multiple historic mines including the Big Bonanza – the largest and richest "bonanza" orebody mined on the Comstock
Expands Mackay's land package by 392 hectares to 4,747 hectares (47.5 km2)
Upon completion of the acquisition, Mackay will control all the major historical mines within the district, which together produced an estimated 8.2 million ounces of gold and 192 million ounces of silver between 1859 and 1926
Property to be acquired for US$6.3 million in cash and shares funded from existing treasury
Vancouver, British Columbia--(Newsfile Corp. - September 10, 2026) - Mackay Gold & Silver Corp. (TSXV: MACK) (OTCQB: MKGSF) ("Mackay" or the "Company") is pleased to announce that it has entered into a definitive agreement with Consolidated Virginia Mining Company and Marshall Earth Resources, Inc., privately owned companies controlled by Mr. Hugh Roy Marshall (collectively, the "Seller"), for the purchase of 100% of the Seller's mining properties within the Comstock District in Storey and Lyon counties, Nevada (the "Property").
Total consideration for the Property is US$6.3 million, consisting of US$2.0 million in cash and US$2.0 million in Mackay common shares payable on closing, and a further US$2.3 million in cash payable on the first anniversary of closing. The 392-hectare Property will expand Mackay's total land holdings to 4,747 ha (47.5 km2), further expanding the largest consolidated property package in Comstock District history and uniting the whole Comstock Lode under single ownership for the first time.
"The Big Bonanza was the crown jewel of the many rich 'bonanza' orebodies mined on the Comstock Lode," stated Darwin Green, CEO and Director of Mackay. "This acquisition adds the very productive northern section of the Comstock Lode to our existing extensive land package, and for the first time in the district's 167-year history the entirety of the 6-km long vein structure is now consolidated under a single owner – Mackay Gold & Silver. It is an immense privilege to secure this opportunity, and I would like to acknowledge the vision and dedication of Mr. Hugh Roy Marshall in carrying out the original consolidation around the Big Bonanza that he initiated some 40-years ago."
History of the Acquired Property
Once Mackay completes the acquisition of the Property, Mackay will control the whole Comstock Lode, from the lode's southern spurs in American Flat through Gold Hill and Virginia City to the northern limit of historically productive Comstock ground. The newly acquired ground encompasses the following historical Comstock Lode mines - Consolidated Virginia, California, Ophir, Mexican, Union, Sierra Nevada, and Utah. Two of those, the Consolidated Virginia and California, hosted the most productive mining ground in the history of the nineteenth-century American West, the Comstock's legendary "Big Bonanza". First discovered on the 1,100-foot level of the Consolidated Virginia in 1872 and developed and extracted over the next ten years, the Big Bonanza produced 1,131,900 tonnes of ore at a calculated average assay grade of 87.4 g/t gold and 1,834 g/t silver (Hudson, D.M., 2003). The orebody measured only about 1,000 feet on strike, up to 340 feet in width, and some 600 feet in depth.
By the early 1880s the Consolidated Virginia was widely considered exhausted. It wasn't. In 1886, the mine discovered a second bonanza which, on its own, was the third most valuable orebody produced on the Comstock, after the Big Bonanza and the Crown Point-Belcher bonanza. Beginning around 1900, a series of smaller, high-grade ore bodies were discovered trailing northward and downward from the 1,800-foot level of the Consolidated California and Virginia. These orebodies extended through the Ophir, Mexican, and Union claims and kept the deep levels of the north end of the district in production until 1920.
Mackay's historical research has recently uncovered detailed maps of these bonanzas, which the Company intends to use to guide future exploration targeting. In addition, the same research efforts provided the first hints at the existence of gold and silver deposits in the upper levels of the north end mines similar to the historical "reserve bodies" that United Comstock Mines and Merger Mines developed and partially exploited in the 1920s in the Gold Hill section of the lode. Confirming that evidence will require substantial further work, which Mackay intends to advance as part of its ongoing exploration programs.
Figure 1. Claim map of Mackay Gold & Silver Corp.'s mineral tenures in the historic Comstock District, Nevada, highlighting the newly acquired ground included in this news release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12351/313745_8b2f16e324fc996e_001full.jpg
Terms of the Purchase Agreement
The Company's wholly owned U.S. subsidiary, Mackay Precious Metals Inc., a Delaware corporation (the "Purchaser"), has entered into a Property Purchase Agreement (the "Agreement") effective as of September 9, 2026 (the "Effective Date") with Consolidated Virginia Mining Company and Marshall Earth Resources, Inc., each a Nevada corporation (collectively, the "Seller"), and Mr. Hugh Roy Marshall, pursuant to which the Purchaser will acquire all of the Seller's right, title, and interest in and to the Property. The Property consists of 39 patented mining claims and certain additional fee lands in Storey County, Nevada, 27 unpatented mining claims in Storey County, Nevada, and two unpatented mining claims in Lyon County, Nevada, totalling approximately 392 hectares, and is directly contiguous with Mackay's existing land package.
Aggregate Purchase Price
In consideration for the Property, the Purchaser will:
Make a US$2,000,000 cash payment to the Seller on the Closing Date (as defined below);
Issue to the Seller or its designee 934,575 common shares of Mackay (the "Consideration Shares") having an aggregate value of US$2,000,000 based on the volume-weighted average trading price for the twenty trading days immediately prior to the Effective Date;
Make a US$2,300,000 cash payment to the Seller on the first anniversary of the Closing Date (the "Anniversary Payment"); and
Consent to the Seller's reservation of the NSR Royalty described below.
The Anniversary Payment will be secured by a deed of trust recorded against the Property in Storey County and Lyon County, Nevada, to be reconveyed and terminated upon payment in full. Any portion of the Anniversary Payment not paid when due will bear interest at 6% per annum.
NSR Royalty
On closing, the Seller will reserve a 2.0% net smelter returns royalty on the Property (the "NSR Royalty"). The NSR Royalty will not apply to any portion of the Property that is subject to an existing royalty as at the Effective Date. The Purchaser may repurchase one-half of the NSR Royalty, being an undivided 1.0% royalty interest, at any time for US$2,000,000, and will hold a right of first refusal in respect of the remaining 1.0% royalty interest.
Share Trading Restrictions
The Consideration Shares will be subject to a hold period expiring four months and one day following the date of issuance, in accordance with applicable securities laws. The Consideration Shares may not be transferred prior to the date that is four months and one day after the date of issuance. For a further period of fifteen months following expiry of that hold period, the Seller may not dispose of Consideration Shares without first delivering written notice to the Purchaser, following which the Purchaser will then have fifteen business days to elect to purchase those shares, or to designate a purchaser, on terms no less favourable than those set out in the notice, and if the Purchaser does not make such election the Seller may dispose of the Consideration Shares within 30 days. The Seller is also restricted from disposing of common shares of Mackay through the TSX Venture Exchange (the "Exchange") or any other public trading platform in any amount exceeding 10% of the average daily trading volume of the Mackay common shares on that platform over the preceding twenty trading days.
Closing
Completion of the transaction is subject to the approval of the Exchange, including approval of the issuance of the Consideration Shares, and to the satisfaction or waiver of the closing conditions set out in the Agreement. Closing will take place on the fifth business day following satisfaction or waiver of those conditions, or on such other date as the parties may agree in writing (the "Closing Date"). Either party may terminate the Agreement if any of the closing conditions have not been satisfied or waived by November 30, 2026, provided that the Purchaser may extend that date by up to three months (or such other period as agreed between the parties) by making a non-refundable cash payment of US$300,000 to the Seller, which amount is creditable against the Anniversary Payment.
No finder's fee or commission is payable in connection with the transaction. The transaction is an arm's length transaction and does not constitute a Non-Arm's Length Party transaction under the policies of the Exchange.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Darwin Green, Chief Executive Officer and director of the Company, and a Qualified Person under National Instrument 43-101. Mr. Green is not independent of the Company. Mr. Green has not verified the historical data pertaining to the Property disclosed in this press release, including the historical production estimates, as such data is historical in nature and the original data is not readily available to the Company.
Mackay Gold & Silver Corp.
Mackay Gold & Silver Corp. is a Nevada-focused gold and silver exploration company with 100% control of a large, consolidated land package in one of America's richest, most productive and oldest mining districts. With an estimated 8.2 million ounces of historical gold production and 192 million ounces of silver produced between 1859 and 1926 from so called 'bonanza orebodies' that averaged 35 g/t gold and 726 g/t silver, the Comstock district is recognized as one of America's highest grade epithermal systems and an attractive setting for modern discovery. Led by an experienced team with a strong track record of discovery, development, and value creation, Mackay is well funded and committed to delivering shareholder value through disciplined exploration and responsible resource development.
On behalf of the Board of Directors
Darwin Green,
Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
References
Hudson, D.M., 2003, "Epithermal alteration and mineralization in the Comstock District, Nevada," Economic Geology, v. 98, p. 367–385.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes, among other things, information regarding: the ability of the Company to carry out its exploration and land consolidation strategies and the timeline thereof, the potential confirmation of gold and silver deposits on the Property, the discovery potential for the Comstock District, the receipt of Exchange approval, the satisfaction of the conditions precedent under the Agreement, and the completion of the acquisition of the Property on the terms described in this news release, or at all.
Readers are cautioned that forward-looking information is not based on historical facts but instead reflect management of the Company's expectations, estimates, or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are, among other things, the following: the ability of the Company to obtain regulatory approval, changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; stock market volatility that may adversely affect the price of the Company's securities; the ability of the Company to carry out its exploration and land consolidation activities as currently contemplated; and compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties, and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313745
Source: Mackay Gold & Silver
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Comstock uzavřel předběžnou dohodu se SOCAR o strategickém partnerství v hodnotě 1,65 miliardy USD, které má snížit čistý dluh z 3,1 miliardy USD na 1,5 miliardy USD. Současně oznámil těžební joint venture s Jerry Jonesem za zhruba 450 milionů USD.
FRISCO, TX, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE and NYSE Texas: CRK) ("Comstock" or the "Company") announced today that it has entered into a letter of intent with the State Oil Company of the Azerbaijan Republic ("SOCAR") under which SOCAR or a wholly owned subsidiary of SOCAR would acquire, subject to the terms of the letter of intent and a definitive purchase and sale agreement, (i) a non-operated working interest representing 20% of Comstock's interest in its Legacy Haynesville upstream assets, (ii) a non-operated working interest equal to 15% of Comstock's interest in its Western Haynesville upstream assets, reducing to 7.5% after five years and once SOCAR has achieved a 15% return on investment in those assets, and (iii) 15% of Comstock’s 73% ownership interest in Pinnacle Gas Services LLC, which provides midstream services to the Western Haynesville, for an aggregate purchase price of $1.65 billion in cash, subject to customary purchase price adjustments. The letter of intent binds the parties to negotiate in good faith a definitive purchase and sale agreement, with the parties targeting execution by October 31, 2026, and a closing by year end, in each case subject to the progress of negotiations. Closing will be subject to customary conditions, including any required government and third-party approvals. The transaction will have an effective date of July 1, 2026.
Under the strategic partnership, SOCAR will have the opportunity to participate in future opportunities generated by Comstock in the Legacy and Western Haynesville at the same percentages SOCAR is acquiring in the transaction and SOCAR will provide opportunities for Comstock to market its natural gas to international customers.
Key Transaction Benefits to Comstock
Validation of the Value of Comstock’s Asset Base – The $1.65 billion purchase price provides strong validation of the value upside represented by Comstock's upstream and midstream platforms. Introduces a Reputable International Strategic Partner – SOCAR brings its large investment-grade balance sheet to help accelerate value creation for Comstock’s investors as well as the benefits of its Global LNG marketing operations. Strengthens Balance Sheet – Comstock intends to use the proceeds from the transaction to reduce total indebtedness which will substantially reduce financial leverage and enhance financial liquidity. Pro forma for the transaction, Comstock's net debt reduces from $3.1 billion to $1.5 billion as of June 30, 2026. Accelerated Development of the Western Haynesville – The resulting stronger balance sheet will support continued delineation and development of Comstock's 545,000 net acres in the Western Haynesville, one of the largest undeveloped natural gas resources in the United States, positioned to serve growing LNG, power generation and data center demand along the Gulf Coast, including the Texas Power Generation Hub in Anderson County, Texas. Comstock Retains Operational Control – Comstock will remain operator of all upstream assets and will continue to manage, operate and control Pinnacle Gas Services. Future development and SOCAR's rights to pro rata participation in future leasing and acquisitions within an area of mutual interest will be governed by a development and ownership agreement as a part of the transaction. Balanced Long-Term Value Sharing - The transaction structure provides SOCAR with the opportunity to achieve a 15% return on its investment while retaining a 7.5% long-term interest in the Western Haynesville upstream assets thereafter. At the same time, the agreed reversion mechanism provides Comstock with increased participation in the future upside of the assets, creating a balanced structure that aligns both parties around their long-term performance. $450 million Haynesville Drilling Venture
Comstock also announced that it has entered into a Haynesville shale drilling venture with Jerry Jones, the Company's majority stockholder. Beginning September 1, 2026, a partnership owned by the Jones family will fund the drilling and completion costs of 85% of 18 Western Haynesville wells and 80% of nine Legacy Haynesville wells being drilled and completed by Comstock over the next twelve months, which is expected to cost approximately $450 million. After a 15% return on investment is achieved, 50% of the interest in the wells will revert to Comstock. The drilling venture will support the continued development and delineation of Comstock's 545,000 net acres in the Western Haynesville and provide volumes to Pinnacle Gas Services as well as strengthen Comstock's balance sheet.
M. Jay Allison, Chairman and Chief Executive Officer of Comstock, commented: "We are excited to announce a strategic alliance with SOCAR. This partnership introduces a reputable international strategic partner to help accelerate value creation for our investors, while allowing us to materially reduce debt and fully fund the planned development of our Western Haynesville acreage — all while Comstock retains operatorship and control of the upstream and midstream assets while maintaining substantial upside through the reversionary structure. We are also excited about the investment Jerry Jones is making in our Haynesville drilling program which will strengthen our balance sheet and allow us to continue to create value in our vast Western Haynesville assets."
Rovshan Najaf, President of SOCAR, commented: "This partnership brings together SOCAR's and Comstock's extensive experience and capabilities, creating a strong foundation for the further expansion of our strategic cooperation. We are pleased to invest alongside a team with a demonstrated track record in developing the Haynesville and Western Haynesville, and we look forward to a long-term partnership."
Advisors
Wells Fargo is acting as financial advisor to Comstock and O'Melveny & Myers LLP is serving as its legal counsel. J.P. Morgan Securities LLC is acting as financial advisor to SOCAR and Baker Botts LLP is serving as its legal counsel.
About Comstock Resources
Comstock Resources, Inc. is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the NYSE and the NYSE Texas under the symbol CRK.
About Pinnacle Gas Services
Pinnacle Gas Services LLC is a Delaware limited liability company and a subsidiary of Comstock. Pinnacle owns and operates the Pinnacle gathering and treating system, which supports Comstock’s Western Haynesville natural gas operations in East Texas.
About SOCAR
SOCAR, a global energy company headquartered in Azerbaijan, specializes in the extraction, processing, and distribution of energy resources. As the largest integrated energy enterprise in the South Caucasus, SOCAR has a significant international presence, reflecting its important role across global energy markets.
Forward-Looking Statements
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the expected execution of a definitive agreement, the expected timing and completion of the proposed transaction, the receipt of required regulatory approvals, the anticipated use of proceeds, expected leverage and interest savings and future development plans. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein, including the risk that a definitive agreement is not executed, that required approvals are not obtained or are delayed, or that the transaction is not completed on the terms described or at all. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company's filings with the Securities and Exchange Commission ("SEC") available on the Company's website or the SEC's website at sec.gov.
Ron Mills
Vice President of Finance and Investor Relations
Comstock Resources
972-668-8834 [email protected]
Comstock dokončil prodej svých starších těžebních aktiv Mackay Precious Metals za více než 45 milionů USD a získal 20 milionů USD v hotovosti plus 2 miliony kmenových akcií Mackay Gold & Silver Corp. v aktuální hodnotě přibližně 4,5 milionu USD.
VIRGINIA CITY, Nev., Aug. 24, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock,” “our” and the “Company”) today announced it has closed the previously announced transaction under which Mackay Precious Metals Inc. (“Mackay”), a wholly owned subsidiary of Mackay Gold & Silver Corp. (TSXV: MACK, OTCQB: MKGSF), acquired 100% of Comstock's mineral, mining, processing and mining-district-related real estate entities, with the aggregate transaction valued at more than $45 million. Comstock has now received $20 million in cash and 2 million common shares (TSX-V: MACK.V) of Mackay Gold & Silver Corp. currently valued at approximately $4.5 million and we expect to record a gain in a range of approximately $10 million to $12 million. The gain on the sale is not expected to result in any cash taxes.
The transaction included the sale of all four of the Company’s mining subsidiaries – Comstock Mining LLC, Comstock Processing LLC, Comstock Exploration and Development LLC, and Comstock Real Estate Inc. – including all mining claims (patented and unpatented), town lots, processing facilities, operating permits and water rights. Mackay also assumed all of the reclamation obligations and other liabilities associated with the sold entities, along with all associated reclamation and surety bond deposits and collateral.
“This transaction completes another critical objective in our transformation from a hard rock junior mining company into a growing, global, renewable metals and materials company. The transaction enhances balance sheet liquidity, reduces company-wide operating costs and realizes accretive value for our shareholders. This continues our strategy of allocating resources to fund our solar recycling production and growth in a manner that seeks to avoid shareholder dilution,” stated Corrado De Gasperis, Comstock’s CEO. “Closing this transaction simplifies our business, focuses our capacity, and reduces costs while retaining upside through both equity in Mackay Gold & Silver Corp. and future gold and silver NSR royalties.”
A secured, second-tranche payment of $7 million is due within 18 months.
Per the sales agreement, Comstock retains a 1.5% NSR royalty from sales of silver, gold, and all other valuable minerals and products extracted from the sold properties, subject to the terms of the Royalty Agreement which was executed at closing. Mackay has the option to buy out the royalty at any time for $3.5 million in cash. Comstock will further share in the success of Mackay’s exploration and development activities through a contingent payment of $10 million if, within seven years following closing, (i) Mackay makes a decision to proceed with the construction of a mine on any of the properties, or (ii) Mackay is sold, merged, or otherwise participates in a change-of-control transaction with aggregate consideration of at least $500 million. If the contingent payment does not occur, the value of the NSR buy out doubles to $7 million after seven years.
The divestiture will reduce ongoing payroll, permitting, environmental compliance, and related costs for maintaining these mining assets, resulting in an estimated $1.5 million in annual operational savings.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics and renewable fuels and other forms of energy.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
Comstock ve 2. čtvrtletí zvýšil zisk na akcii na 84 centů z 14 centů a tržby o 74 % na 22,6 milionu USD. Čistý zisk vyskočil o 512 % na 8,9 milionu USD.
Shares of Comstock Holding Companies, Inc. (CHCI - Free Report) have gained 27.7% since the company reported its earnings for the quarter ended June 30, 2026, compared with the S&P 500 index’s 0.6% decline over the same period. Over the past month, the stock has advanced 22.8% compared with the S&P 500’s 2.2% increase.
Comstock reported second-quarter 2026 earnings per share of 84 cents, which jumped from 14 cents per share in the prior-year quarter.
Revenues of $22.6 million denoted a 74% rise from $13 million in the year-ago quarter.
Net income surged 512% to $8.9 million from $1.5 million, while Adjusted EBITDA rose 231% year over year to $7.4 million from $2.2 million.
Other Key Business MetricsComstock ended the quarter with 108 managed assets, up from 82 a year earlier. Its stabilized commercial portfolio was 92% leased, with nine commercial leases covering approximately 409,000 square feet executed during the quarter and 447,000 square feet leased year to date. The stabilized residential portfolio was 94% leased, with 351 units leased during the quarter and 501 units year to date. ParkX subsidiary revenues increased 89% from the prior-year period, while the business secured eight new contracts during the quarter, including three third-party parking garages.
The company also reported progress across its development portfolio. The final phase of the BLVD Haley residential tower and roughly 6,000 square feet of adjacent retail space was delivered, completing all buildings at The Row at Reston Station. Lease-up at BLVD Haley reached 37%. Meanwhile, the JW Marriott Reston Station Hotel conference center expansion is scheduled for delivery in fall 2026.
Management CommentaryChairman and CEO Christopher Clemente attributed the quarter's performance to Comstock's continued focus on strategic growth and said the results demonstrated the potential of its asset-light, debt-free platform. Management highlighted the diversity of the company's revenue sources, noting that recurring fee-based revenues from the core business increased alongside expansion of the managed portfolio. Comstock also pointed to its institutional venture and data center platforms as contributors to both top- and bottom-line growth and said it remains positioned to capitalize on that momentum.
Factors Influencing the Headline NumbersThe sharp increase in reported net income partly reflected a $4.3 million gain on equity investments in Jericho Energy Ventures during the quarter. Excluding unrealized gains on equity investments, along with other specified items, adjusted EBITDA still increased substantially to $7.4 million. Comstock said the improvement in adjusted EBITDA was primarily driven by expansion of its managed portfolio, which generated higher recurring fee-based revenues from its three operating property-management subsidiaries and increased asset-management fees. Higher supplemental leasing and acquisition fee revenues also contributed.
Operating income increased to $6.7 million from $1.8 million despite higher expenses. Cost of revenue rose to $14.6 million from $10.5 million, while selling, general and administrative expenses increased to $1.3 million from $0.6 million. Income before taxes reached $11.2 million, compared with $2.1 million a year earlier, aided significantly by the equity-investment gain.
Balance Sheet UpdateCash and cash equivalents declined to $25.3 million as of June 30, 2026, from $31.3 million as of Dec. 31, 2025. Total assets increased to $92.2 million from $85 million.
Total liabilities decreased to $11 million as of June 30, 2026, from $15 million at 2025-end.
Total stockholders’ equity rose to $81.2 million from $70 million over the same period.
Other DevelopmentsComstock finalized the acquisition of the Woodland Pointe office complex through its Institutional Venture Platform, generating $4.1 million of supplemental fees during the quarter. The transaction added an existing 185,000-square-foot office building to the stabilized commercial portfolio and approximately 100,000 square feet of build-to-suit office space to the development pipeline, with both buildings fully leased to Peraton. It was Comstock's second Institutional Venture Platform transaction of 2026.
The company also finalized its Oklahoma data center joint venture with Jericho Energy Ventures. The venture has development rights covering roughly 6,000 acres of an approximately 18,000-acre subsurface portfolio and secured a letter of intent with an electric power and energy infrastructure company to serve as exclusive power provider for up to 3 gigawatts of power to the assembled land portfolio.
Comstock uvedl, že na konci 2. čtvrtletí měl asi 31,4 milionu USD v hotovosti a žádný dluh. Firma zároveň dokončuje svou první průmyslovou solární recyklační linku, která má v srpnu začít v provozu.
3 Micro-Caps Set for Major Moves: Balancing Risk and OpportunityComstock NYSEAMERICAN: LODE executives said the company ended the second quarter of 2026 with a stronger balance sheet, completed major capital spending on its first industry-scale solar panel recycling facility and remains focused on monetizing legacy mining and real estate-related assets.
Chief Financial Officer Judd Merrill said Comstock ended the quarter with approximately $31.4 million in cash and no debt. Total working capital was $39.9 million, based on $58.1 million in current assets and $18.2 million in current liabilities.
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Merrill said the company expects another $20 million in cash in August upon closing a securities purchase agreement tied to the sale of 100% of its legacy mining assets to Mackay Precious Metals. He said the transaction would also remove mining reclamation liabilities, bonding requirements and related costs from Comstock’s balance sheet, while allowing the company to retain upside through net smelter return royalties across the district and equity in Mackay.
“The mining sale will also eliminate annual costs of about $1.4 million and free our capacity to focus more on the recycling business,” Merrill said.
Capital Deployment Focused on Metals and Sierra Springs Merrill said Comstock’s largest source of cash during the first half of the year was its January equity financing, which generated approximately $56 million in net proceeds. The company also generated nearly $6.5 million in additional proceeds, including more than $2 million from mining asset sales, $1.8 million from debt extinguishment-related recoveries and $2.6 million in solar panel recycling revenue, including deferred revenue from Comstock Metals.
On the spending side, Merrill said the company invested approximately $21 million into Sierra Springs, enabling the closing of more than 2,200 acres of land and nearly 2,000 acre-feet of water rights. The investment increased Comstock’s ownership in Sierra Springs to nearly 50%, according to the company.
Comstock also spent approximately $5 million completing its first industry-scale metals recycling facility, $1.3 million expanding product upgrade capabilities, approximately $1.4 million advancing new metals recovery technologies and approximately $3 million on metals operating costs as operations ramped.
Merrill said Comstock was added to the Russell 2000 and Russell 3000 indexes in late June, which the company views as a step in strengthening its institutional capital base.
Solar Panel Recycling Facility Set to Begin Continuous Operations Chief Executive Officer Corrado De Gasperis said Comstock’s first industry-scale solar panel recycling system is expected to begin ramping in August after final testing and commissioning. He said the system is designed for 100,000 tons of annual capacity and that the company expects to operate at about 25% capacity initially.
De Gasperis said the company’s process is designed to remove contaminants and produce clean, saleable materials, including glass and metals. He said Comstock’s product upgrade systems are already operating and have been stress-tested, allowing the company to produce higher-specification glass while recovering additional residual materials.
Merrill said the company’s new storage area is graded, fenced and ready to open, with total panels on the ground and ready for processing approaching 9,000 tons. De Gasperis later said panels are stored across sites including California and Ohio, but the company is not disclosing volumes by location.
In response to investor questions, Merrill said the metals operation begins generating cash from an operational standpoint when the first plant reaches a little more than 20% capacity. He said the company-wide cash flow threshold from plant one is roughly 40% to 50% of operations.
De Gasperis said Comstock is not guiding beyond 25% capacity for the year-end ramp, though he said the company has incentives to push higher. “Getting to 25% proves what most people are looking to see,” he said, citing whether the machine works reliably and profitably at the line-of-business level.
Management Discusses Customers, Competition and Future Sites De Gasperis said Comstock continues to engage with large customers in the utility segment and has been adding offtake agreements. He said customer demand today is smaller than what the company expects as deployed solar panels mature and reach end of life.
Asked about competitors, De Gasperis said the company still sees alternatives such as landfilling or shredding panels and shipping materials overseas, but said Comstock does not see another company with a comparable science-based system that can produce clean materials and scale to the same extent.
Comstock is also evaluating additional site opportunities. De Gasperis said the company has selected sites two and three, is close to selecting a fourth, and is looking at Ohio, northern Nevada, Texas and the East Coast. He emphasized that site selection is not the same as deploying production capital, and that Comstock will not order equipment for the next facility until the first system is operating and ramping successfully.
The company is also advancing a one-ton-per-day metals recovery pilot system intended to test extraction of silver and other metals from industrial tailings generated by its recycling process. De Gasperis said Comstock hopes to know more about silver recovery before the end of the year, but said it is premature to discuss silver yields.
Sierra Springs Monetization Effort Advances Comstock executives spent a significant portion of the call discussing Sierra Springs, which De Gasperis described as a potentially valuable industrial land and infrastructure opportunity in northern Nevada. He said the consolidated land, water and power position is intended to attract counterparties involved in major industrial and compute-related development.
De Gasperis said Sierra Springs has secured an initial precedent agreement tied to 50,000 dekatherms per day of natural gas, which he said could translate to up to 300 megawatts of power. He said Comstock is also positioned for a potential follow-on opportunity that could bring the total to at least 1.2 gigawatts, though the later opportunity has not yet come to formal bid.
De Gasperis said the company expects to launch a marketing effort later this summer and believes it can structure transactions before year-end, although he noted that potential counterparties may require 90 to 150 days of due diligence.
Bioleum Strategy Recalibrated De Gasperis said Bioleum has been operating more quietly as Comstock prioritizes the metals business, the mining asset sale and Sierra Springs. He said Bioleum’s strategy has been recalibrated following the acquisitions of RenFuel and Hexas, with a focus on integrating feedstock and conversion technologies into a “farm-to-fuel” platform.
De Gasperis said the company does not expect revenue from Bioleum generating fuels in 2027, but does expect revenue from Bioleum generating materials for fuels and from Hexas. He also said Comstock expects to pursue capital at the subsidiary level, potentially through non-dilutive sources and third-party investment, before the end of the year.
Asked about Bioleum impairments recorded in the quarter, De Gasperis said they were non-cash and tied to intellectual property that is no longer strategic to Bioleum’s focused plan. Merrill said the company’s investment carrying value increased to approximately $67 million even after the non-cash impairment.
About Comstock (NYSEAMERICAN:LODE)Comstock Mining, Inc NYSE: LODE is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.
In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Comstock Inc. vykázala za 2. čtvrtletí ztrátu 0,13 USD na akcii, což bylo více, než čekal trh. Tržby ve výši 0,27 mil. USD zaostaly za odhadem o 80,16 %.
Comstock Inc. (LODE - Free Report) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to a loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -8.33%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.14, delivering a surprise of +22.22%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
COMSTOCK INC, which belongs to the Zacks Waste Removal Services industry, posted revenues of $0.27 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 80.16%. This compares to year-ago revenues of $0.34 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
COMSTOCK INC shares have added about 5.1% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for COMSTOCK INC?While COMSTOCK INC has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for COMSTOCK INC was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.09 on $8.38 million in revenues for the coming quarter and -$0.41 on $24.56 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Waste Removal Services is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Quest Resource (QRHC - Free Report) , has yet to report results for the quarter ended June 2026.
This recycling company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Quest Resource's revenues are expected to be $64 million, up 7.5% from the year-ago quarter.
Comstock Metals uzavřel s Illuminate USA dohodu o recyklaci materiálů ze solární výroby. Smlouva pokrývá přepravu, třídění i ekologickou recyklaci vedlejších produktů z výroby panelů.
SILVER SPRINGS, Nev., July 21, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) (“Comstock” and the “Company”), and Comstock Metals LLC a leader in the responsible, zero-landfill recycling of end-of-life solar panels with the first certified North American operations announced today that it has entered into a Solar Material Recycling Services Agreement with Illuminate USA LLC.
Under the new agreement, Comstock Metals will provide comprehensive recycling services for solar panel materials from Illuminate USA’s advanced manufacturing operations in Pataskala, Ohio. The services include safe transportation, sorting, and environmentally responsible recycling for a broad range of solar panel manufacturing byproducts. Illuminate USA operates the largest single-site solar panel manufacturing facility in North America.
“Our partnership with Illuminate USA is a testament to the industry’s growing commitment to circularity and stewardship,” said Dr. Fortunato Villamagna, President of Comstock Metals. “By providing a zero-landfill solution for solar panel manufacturing byproducts, we are helping Illuminate USA ensure that all materials are safely repurposed into new industrial goods, eliminating all downstream liability, and giving their team peace of mind knowing all materials are responsibly recycled. This is a major step toward enabling and aligning a truly systemic solar energy ecosystem.”
Comstock operates a growing, strategically positioned national recycling network, including Central Ohio, to serve customers throughout the broader Midwest, one of the larger and most centrally located solar markets in the country.
The agreement further positions Comstock Metals and Illuminate USA as leaders in the solar panel recycling and advanced manufacturing industries, respectively. The two companies will work together over the next few years to responsibly recycle various material streams.
Illuminate USA operates a state-of-the-art facility in Ohio producing advanced technology solar panels for a wide range of applications. The company is dedicated to delivering advanced and efficient solar panels while building sustainable systems into its operations.
“Our new partnership with Comstock Metals strengthens our commitment to environmental responsibility,” said Bryan Kresak, Illuminate’s Vice President of Environmental, Health, Safety and Facilities. “Together, we are taking these important steps to ensure that our operations reflect our deeply held values and advance sustainable practices across the industry.”
The partnership marks a significant step in Comstock Metals’ and Illuminate USA’s strategy to expand their roles in enabling a clean supply chain for solar energy production at each stage of the life cycle.
About Illuminate USA
Illuminate USA is a leading U.S.-based solar panel manufacturer focused on innovation, quality, and domestic production. Headquartered in Pataskala, Ohio. Illuminate USA operates a state-of-the-art, 1.1 million square foot facility that uses advanced and efficient technology to produce solar panels for a variety of applications. The company began production in February 2024 and has produced more than 15 million solar panels. With a workforce of over 1,600 skilled professionals and a five-gigawatt annual capacity, Illuminate USA is dedicated to delivering reliable, high-quality products that power communities. For more information, visit us online at IlluminateUSA.com.
About Comstock Metals
Comstock Metals is a leading, Nevada-based, zero-landfill recycling solution that specializes in the environmentally responsible recycling of solar panels and related renewable energy infrastructure and equipment. Comstock’s unique processes, ongoing material innovations, and sustainable practices differentiates its recycling leadership and strengthens the supply chain of domestically manufactured electrification products. www.comstockmetals.com
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics and renewable fuels and other forms of energy.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
Comstock podepsal nájemní smlouvu s Virtualitics na kancelář o ploše 3 000 čtverečních stop v Reston Station. Tím posiluje mix nájemců v tomto technologickém areálu.
Comstock Holding Companies, Inc. (CHCI - Free Report) continues to strengthen the tenant mix at its flagship Reston Station development with the addition of Virtualitics, an AI-powered decision intelligence solutions provider. The company has signed a lease for a 3,000-square-foot office in Reston Station.
Pasadena, CA-based Virtualitics develops artificial intelligence applications that help enterprise and government organizations transform complex data into actionable insights.
Reston Station Gains Another Technology TenantThe latest lease reinforces Reston Station's position as a premier mixed-use destination for technology companies seeking modern office space with convenient access to transportation and lifestyle amenities. As demand shifts toward premium, transit-oriented workplaces with integrated lifestyle amenities, Reston Station continues to benefit from its strategic location and diversified tenant base.
Comstock continues to attract businesses looking for well-connected workplaces that support employee recruitment and long-term growth.
A Strategic Asset in Comstock's PortfolioReston Station remains one of the Mid-Atlantic region's largest mixed-use, transit-oriented developments. Spread across approximately 90 acres around the Wiehle-Reston East Metro Station, the property houses several Trophy-Class office buildings occupied by leading companies, including Google, Booz Allen Hamilton, ICF International and CARFAX.
Beyond office space, the development offers luxury residential towers, Virginia's first JW Marriott hotel and residences, along with a wide range of dining, retail and wellness options. The upcoming opening of Ebbitt House, the first expansion of Washington, D.C.'s iconic Old Ebbitt Grill brand, is expected to further enhance the property's appeal.
Why it MattersThe recent move is expected to pave the way for Comstock's expansion in Northern Virginia, a region known for its strong technology ecosystem and government contracting workforce. It is likely to boost CHCI’s revenues by generating additional rental income and supporting higher occupancy at Reston Station.
Comstock Metals integrovala a otestovala robotické nakládání a první dopravní systém v rámci zprovozňování své první průmyslové linky na recyklaci solárních panelů. Kapacita zkoušky překročila odhadovaný maximální návrh o 10 %.
SILVER SPRINGS, Nev., July 07, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible, zero-landfill recycling of end-of-life solar panels with the first certified North American operations announced today that it has integrated, tested and operated the robotic loading and initial conveyance system, representing the front-end stages of its production process as part of the overall commissioning of its first-of-a-kind, industry-scale solar recycling facility.
The operating system has three major operating stages that are currently being integrated, individually stress tested and commissioned. This represents another significant step toward the full commissioning, start up and continuous operation of the 100,000 ton per year solar panel recycling production line. The robotic arms and the continuous loading and conveyance systems that feed the initial crushers are now fully integrated and operational.
“We are pleased to report that, as of last week, we completed the wiring, interconnection of the PLC systems, integration and testing of the first third of the plant, and specifically the robotic loading arms and that the initial tests all resulted in effective and expedient loading of the panels into the system. In fact, the loading systems capacity test exceeded our estimated capacity design maximums by 10%,” stated Corrado De Gasperis, CEO of Comstock. “The team will now stress test the particle size reduction stage of the system and continue forward into our proprietary process integration and testing. We remain on track for stress testing those components over the next two weeks.”
Comstock Metals’ robotic arms feeding solar panels onto conveyance system.
“We are now well into the process of bringing the industry-scale production plant online while taking great care to make sure each stage is working as designed and to specification and then stress-testing these processes at volumes representing the equipment’s stated capacities,” stated Dr. Fortunato Villamagna, Comstock Metals President. “The front end is now actually working better than initial designs and has been tested and operating, and we will continue moving through the rest of the production system in that same sequence, such that by next month, the nine distinct unit operations will all be operational together. We are also now leveraging the modular nature of the start-up process to train and develop the operating crews to move from a 24/5 to a 24/7 on a 12-hour rotating shift basis.”
The start-up sequence is largely dictated by the engineering requirements and, to a lesser extent, the responses to continued requests for materials and samples from the growing population of potential offtake customers.
While we work on bringing the recycling process online, we also continue to stress-test the secondary upgrading processes for the offtake products, especially glass, in order to ensure compliance with customer specifications as we continue expanding our addressable markets for those products,” continued Villamagna. “The operating team and the personnel development that resulted from a multi-year demonstration facility is now proving extremely beneficial. These developmental and commissioning activities, along with all aspects of integration, testing, tuning and staged stress testing will continue throughout July, while continuous operations should commence this August.”
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81bffda1-1105-49c1-81ff-d9a93bf6744e
Comstock Metals oznámila, že do závodu dorazilo a bylo smontováno veškeré zařízení pro průmyslovou linku na recyklaci solárních panelů. Tři jednotky už byly zprovozněny a otestovány, plný provoz má začít do konce července 2026.
VIRGINIA CITY, Nev., June 29, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels with the only certified, North American, zero-landfill solution, announced today that all of the industry-scale facility precision equipment and unit operations have arrived and are assembled. Three of those unit operations have been commissioned and tested and are undergoing integration to date: the robotic loading arms, the Eddy system, and the washing system. This represents significant progress toward the full commissioning, start-up and continuous operation of the 100,000 ton per year solar panel recycling production line.
“We are pleased to report that, as of last week, we completed the “tuning” of the entire glass-upgrading Eddy system, including full capacity stress-testing. The unit met and exceeded its quality and capacity performance requirements operating at full capacity levels and working towards delivering clean glass that meets or exceeds all the quality specifications communicated from our customers,” stated Corrado De Gasperis, CEO of Comstock Inc.
“A production plant comes to life the way a finely tuned orchestra does. Each instrument is tuned individually to make sure it is working and if not, then retuned, and then stress-tested at volumes representing the equipment’s stated capacities, and only then does the true performance begin,” stated Dr. Fortunato Villamagna, Comstock Metals’ President. “Our plant is moving through that same sequence, and the instruments, the nine distinct unit operations that make up our process, are now being tuned one by one.”
“The start-up sequence is largely dictated by the engineering requirements and, in part, in response to requests for materials and samples from the growing population of our potential offtake customers,” continued Villamagna. “We are currently stress-testing the other two-unit operations that are now calibrated, while beginning the “tuning process” for the next three in the sequence.”
Commissioning, and all aspects of integration, tuning, and staged stress-testing will continue through late July 2026, when continuous operations will commence. The first full month of operation will begin within the next two months.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company or any other issuer.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ace2c6ae-fe59-4dd6-b98f-a3619f25b23a
Comstock prodává své historické těžební aktivity Mackay Precious Metals za více než 45 milionů USD. Firma si ponechá 1,5% NSR royalty a čekají ji roční úspory přes 1,5 milionu USD.
VIRGINIA CITY, Nev., June 22, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock,” “our” and the “Company”), today announced that it has executed a Securities Purchase Agreement (the “SPA”) to sell 100% of its mineral, mining, processing and related mining district real estate entities to Mackay Precious Metals Inc. (“Mackay”), a wholly owned subsidiary of Mackay Gold & Silver Corp., for an aggregate transaction value of over $45 million, consisting of over $30 million in cash and stock payments, a retained 1.5% NSR royalty, the assumption of all reclamation obligations and liabilities, and an additional contingent future payment of $10 million. Mackay will acquire 100% of four Comstock subsidiaries: Comstock Mining LLC, Comstock Processing LLC, Comstock Exploration and Development LLC, and Comstock Real Estate Inc., including all patented and unpatented mining claims, town lots, processing facilities, operating permits and water rights.
“This transaction achieves a critical milestone in our transformation from a hard rock, junior mining company to our growing, global, renewable metals and materials company, that potentially unlocks high value for our shareholders, delivers and reallocates non-dilutive capital to fund that growth, simplifies our business model and reduces costs while retaining real upside through both equity in MACK and potential future NSR royalties,” stated Corrado De Gasperis, Comstock’s CEO. “Mackay has now assembled a historic, world-class district with highly sophisticated capital partners, board members and management, coupled with a geological development plan that we support and remain vested in, to potentially unlock the discovery of millions of gold and silver ounces and the associated potential share value across the entirety of the historic mining district. We support all of Darwin’s and the Mackay team’s plans.”
Upon closing, the Company will have received $20 million in cash, plus 2 million shares of Mackay Gold & Silver (TSXV: MACK, OTCQB: MKGSF) valued at over $3.5 million at recent prices. A secured, second-tranche cash payment of $7 million is due within 18 months. Mackay may elect to satisfy up to $2 million of the second-tranche payment through the issuance of additional Mackay Gold & Silver Corp. shares, subject to the pricing thresholds and conditions set forth in the SPA. All reclamation obligations and liabilities will be assumed by the sold entities and all associated reclamation and surety bond deposits and collateral will also be assigned and remain with the sold entities.
Comstock expects the divestiture to reduce ongoing costs associated with maintaining these mining assets, permits, environmental compliance obligations and related activities, resulting in over $1.5 million in annualized savings.
The Company will also retain a 1.5% NSR royalty from sales of silver, gold, and all other valuable minerals and products extracted from these properties, subject to the terms of the Royalty Agreement. Mackay has the option to repurchase the royalty at any time for $3.5 million in cash. Comstock will further share in the success of Mackay’s exploration and development activities through a contingent payment of $10 million if, within seven years following closing, (i) Mackay makes a decision to proceed with the construction of a mine on any of the properties, or (ii) Mackay is sold, merged, or otherwise participates in a change-of-control transaction with aggregate consideration of at least $500 million. If the contingent payment does not occur, the value of the NSR buy-out doubles to $7 million.
This transaction follows Mackay’s very successful lease of Comstock’s Northern Targets starting in June 2023, and the purchase of those properties in December 2024 for a total value of $3.85 million. Over the life of these transactions, Comstock received approximately $8 million when adding prior lease payments and reimbursed expenses to the sale.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: expectations regarding the completion of the proposed securities offering, future market conditions; future explorations or acquisitions, divestitures, spin-offs or similar distribution transactions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: sales of, and demand for, our products, services, and/or properties; industry market conditions, including the volatility and uncertainty of commodity prices; the speculative nature, costs, regulatory requirements, and hazards of natural waste resource identification, exploration, development, availability, recycling, extraction, processing, and refining activities, including operational or technical difficulties, and risks of diminishing quantities or insufficiency of grades of qualified resources; changes in our planning, exploration, research and development, production, and operating activities; research and development, exploration, production, operating, and other variable and fixed costs; throughput rates, margins, earnings, debt levels, contingencies, taxes, capital expenditures, net cash flows, and growth; restructuring activities, including the nature and timing of restructuring charges and the impact thereof; employment and contributions of personnel, including our reliance on key management personnel; the costs and risks associated with developing new technologies; our ability to commercialize existing and new technologies; the impact of new, emerging, and competing technologies on our business; the possibility of one or more of the markets in which we compete being impacted by political, legal, and regulatory changes, or other external factors over which we have little or no control; the effects of mergers, consolidations, and unexpected announcements or developments from others; the impact of laws and regulations, including permitting and remediation requirements and costs; changes in or elimination of laws, regulations, tariffs, trade, or other controls or enforcement practices, including the potential that we may not be able to comply with applicable regulations; changes in generally accepted accounting principles; adverse effects of climate changes, natural disasters, and health epidemics, such as the COVID-19 outbreak; global economic and market uncertainties, changes in monetary or fiscal policies or regulations, the impact of terrorism and geopolitical events, volatility in commodity and/or other market prices, and interruptions in delivery of critical supplies, equipment and/or raw materials; assertion of claims, lawsuits, and proceedings against us; potential inability to satisfy debt and lease obligations, including because of limitations and restrictions contained in the instruments and agreements governing our indebtedness; our ability to raise additional capital and secure additional financing; interruptions in our production capabilities due to equipment failures or capital constraints; potential dilution from stock issuances, recapitalization, and balance sheet restructuring activities; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to maintain the listing of our securities on any securities exchange or market; and our ability to implement additional financial and management controls, reporting systems and procedures and comply with Section 404 of the Sarbanes-Oxley Act, as amended. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
Mackay Gold & Silver koupí od Comstocku nevadská těžební aktiva za 20 milionů USD v hotovosti a 2 miliony akcií, čímž zvětší své pozemky o 70 % na 4 343 hektarů. Získá také dvě ložiska a povolené zpracovatelské zařízení.
Creates the largest consolidated mining claim package in the Comstock District's 167-year history, expanding Mackay's land position by 70% to 4,343 hectares (43 km²)
Unites the district's three major vein systems, the Silver City Lode, Occidental-Brunswick Lode and Comstock Lode, under single ownership for the first time
Adds two oxide gold-silver deposits supported by recent S-K 1300 historical estimates, plus numerous historical past-producing gold-silver mines
Includes a permitted heap-leach and Merrill-Crowe processing facility providing future development optionality
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Mackay Gold & Silver Corp. (TSXV: MACK) (OTCQB: MKGSF) ("Mackay" or the "Company") is pleased to announce that it has entered into a definitive agreement with Comstock Inc. ("Comstock") for the purchase of 100% of Comstock's mining assets in Storey County and Lyon County Nevada, referred to herein as the Silver City Lode properties ("SCL Properties"). The acquisition expands Mackay's total land holdings by 70% to 4,343 ha (43 km2), consolidating the largest property package held by one company in Comstock District history.
Consideration will consist of US$20 million in cash and 2,000,000 common shares of Mackay ("Mackay Shares") on closing, followed by a further US$7 million payable within 18 months in a combination of cash and shares, plus contingent future consideration as detailed later in this press release. With a balance sheet of over US$60M, Mackay is fully financed to make all cash payments while retaining a very strong treasury to fund the Company's ongoing exploration objectives.
The SCL Properties are contiguous with the southern boundary of Mackay's existing land package, covering the entire, multi-kilometer strike length of the Silver City Lode and its southern projection into Spring Valley (Figure 1). The SCL Properties include numerous historical past-producing gold-silver mines and two established oxide gold-silver deposits with historical resource estimates dating to 2022, completed pursuant to the US S-K 1300 standards, as detailed below. The SCL Properties also include a permitted mine and processing infrastructure at American Flats.
"Land consolidation has been central to unlocking modern exploration of the Comstock District. By removing the property boundaries that have long fragmented this camp, we can test targets and structural continuations that previous operators could never pursue. This is a district that historically produced a large amount of gold and silver at very high grades, and that has seen remarkably little modern exploration, a rare combination that offers an attractive opportunity for significant new discoveries," stated Darwin Green, CEO and Director of Mackay. "In this one transaction, we are simultaneously unifying the main lodes (veins) in the Comstock District under single ownership for the first time, adding significant ounces and infrastructure, and de-risking the future of the project by securing development site optionality. As we integrate this new highly prospective land package into our medium to long-range exploration planning, the near-term focus for Mackay remains squarely on our initial 20,000-meter drilling program at the Occidental-Brunswick Lode that is just now getting underway."
Figure 1. Claim map of Mackay Gold & Silver Corp's mineral tenures in the historic Comstock District, Nevada, highlighting newly acquired ground from Comstock Inc.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12351/302311_af53637cc4513b24_001full.jpg
Historical Resources
The SCL Properties host two oxide gold-silver deposits with historical resource estimates prepared by previous owners in 2022. These include the Lucerne Deposit located on the Silver City Lode and the Dayton Deposit located approximately one mile south of the Lucerne Deposit along the interpreted southern projection of the Silver City Lode.
CategoryTonsAu GradeAg GradeContained
AuContained
Ag(oz/ton)(gpt)(oz/ton)(gpt)(ounces)(ounces)Measured2,650,0000.031.030.2528.6380,000670,000Indicated7,620,0000.0280.960.196.51213,0001,450,000Inferred3,740,0000.0240.820.1294.4290,000480,000Total Lucerne and Dayton Consolidated
CategoryTonsAu GradeAg GradeContained
AuContained
Ag(oz/ton)(gpt)(oz/ton)(gpt)(ounces)(ounces)Total M & I24,388,0000.0250.850.248.32605,0005,880,000Total Inferred13,229,0000.0230.770.196.65297,0002,572,000Tons = US short tons
oz/ton = ounce per US short ton
gpt = gram per metric tonne
The Lucerne and Dayton Deposit resource estimates disclosed above are historical in nature and are treated as historical estimates under National Instrument 43-101 - Standards of Disclosure for Mineral Estimates ("NI 43-101"). A Qualified Person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Mackay is not treating the historical estimate as current mineral resources, and the historical estimate should not be relied upon. It is being shared strictly for informational purposes. The Company believes that the historical estimate is relevant to an appraisal of the merits of the SCL Properties and forms a basis upon which to develop future exploration programs. While the historical estimate has not been independently verified by the Company, the public disclosure of the data and its preparation in accordance with S-K 1300 indicates that the historical estimate was prepared to a reasonably high standard.
The Lucerne estimate was prepared by Mine Development Associates ("MDA"), a division of RESPEC, in a technical report summary dated March 16, 2022. The estimated resource for the Lucerne Deposit is constrained within an open pit and reported at a cutoff grade of 0.005 ounces ("oz") gold ("Au") per ton. Pit design and cutoff grade are based on a gold price of $1,750/oz. The resource is based on data that includes 88,786 gold assays and 89,236 silver assays from a total of 477,099 feet of drilling (1,045 reverse circulation holes, 407 core holes, and 402 air track holes). Interpolation dominantly utilized inverse distance to the power of four (ID4).
The Dayton Deposit resource estimate was prepared by Behre Dolbear in a technical report summary dated November 1, 2022. The estimated mineral resource is constrained within an open pit economic shell based on a gold price of $1,800 per ounce and reported at a cutoff grade of 0.007 oz gold per ton.
The estimates and technical reports for the Lucerne and Dayton deposits were prepared in accordance with the disclosure and reporting requirements of the United States Securities and Exchange Commission's mining rules under subpart 1300 and item 601 (96)(iii) of Regulation S-K. While S-K 1300 and CIM standards utilized under NI43-101 are similar, including use of the same resource classification labels, potential differences exist.
In order to verify the historical estimate to a current mineral resource estimate, the Company will need to retain a Qualified Person to verify historical drilling and assaying methods and validate historical results, revise for current metal prices, add any drilling and assaying or other pertinent geological information generated since the last estimation, and complete a mineral resource estimate and a new technical report. There can be no assurance that any of the historical estimates, in whole or in part, will ever become economically viable.
American Flats Facilities
The fully permitted process facilities located at American Flats include a two-stage crushing circuit, including agglomeration drum and stacker, a heap leach facility, and a Merrill Crowe processing facility (~4,500 tpd). These facilities operated between 2012 and 2016, and since this time have been on care and maintenance.
A reclamation surety bond totalling approximately US$8.75M, including US$4M in cash collateral, is in place for the American Flats processing facility and Lucerne Mine. Upon closing of the acquisition, the approximately US$4M existing cash collateral for the surety bond, currently held within a dedicated interest-bearing account, will be assigned to Mackay or its subsidiary.
Terms of the Purchase Agreement
The Company and its wholly owned US subsidiary Mackay Precious Metals Inc., a Delaware corporation (the "Buyer") have entered into a Securities Purchase Agreement (the "Agreement"), dated as of June 21, 2026 (the Effective Date") with Comstock whereby the Buyer will acquire all of the issued and outstanding membership interests in Comstock Mining LLC, a Nevada limited liability company; Comstock Processing LLC, a Nevada limited liability company; and Comstock Exploration and Development LLC, a Nevada limited liability company (each, an "Acquired LLC" and collectively, the "Acquired LLCs"), and all of the issued and outstanding shares of capital stock of Comstock Real Estate Inc., a Nevada corporation ("CRE" and, together with the Acquired LLCs, the "Acquired Entities") (such membership interests in the Acquired LLCs and shares of capital stock of CRE, collectively, the "Acquired Interests").
The Acquired Entities own or control properties in Storey County and Lyon County, Nevada (the "Acquired Properties"), including patented and unpatented mining claims, town lots, processing facilities, operating permits and water rights, representing effectively all of Comstock's property interests and assets within the historic Comstock Mining District. The Acquired Properties are directly contiguous with Mackay's existing land package.
The Agreement and the acquisition of the Acquired Interests is subject to the approval of the TSX Venture Exchange (the "Exchange"). Closing of the transaction will take place on the fifth business day following Exchange approval and after satisfaction or wavier of the conditions set out in the Agreement, or such other date as Comstock and Mackay may mutually agree in writing (the "Closing Date").
Aggregate Purchase Price for the Acquired Interests
On closing, the Buyer will deliver to Comstock US$20,000,000 (the "Initial Payment") and issue 2,000,000 Mackay Shares (the "First Tranche Shares") subject to certain re-sale restrictions as outlined below.
Within 18 months following the Effective Date, the Buyer shall pay to Comstock US$7,000,000 (the "Second Tranche Payment"), with up to US$2,000,000 of the Second Tranche Payment payable in Mackay Shares (the "Second Tranche Shares"):
If the volume-weighted average trading price (the "VWAP") of the Mackay Shares on the Exchange for the twenty trading days ending three trading days prior to the date that the Buyer makes the Second Tranche Payment (the "VWAP Price") is between US$0.50 and US$1.00, the Buyer may, at its election, pay up to US$1,000,000 of the Second Tranche Payment by delivering to Comstock Second Tranche Shares at a deemed value per Second Tranche Share of the VWAP Price.
If the VWAP Price is above US$1.00, the Buyer may, at its election, pay up to US$2,000,000 of the Second Tranche Payment by delivering to the Comstock Second Tranche Shares at a deemed value per Second Tranche Share of the VWAP Price.
The Buyer shall pay the portion of the Second Tranche Payment which is not satisfied by the delivery of Second Tranche Shares to Comstock in cash.
If, at any time on or prior to the date that is seven years after the Closing Date, (i) the Buyer makes a construction decision in respect of a mine on any of the Acquired Properties, or (ii) a change of control of the Buyer or Mackay occurs, then the Buyer shall pay to Comstock US$10,000,000 in cash (the "Contingent Payment") no later than 90 days following the occurrence of such triggering event. The Contingent Payment shall be payable only once.
Share Trading Restrictions
The First Tranche Shares shall be subject to contractual transfer restrictions, to be implemented by restrictive legend and/or stop-transfer instructions, such that 25% of the First Tranche Shares shall become freely transferable on the date that is 18 months after the date of issuance, an additional 25% shall become freely transferable on the date that is 22 months after the date of issuance, an additional 25% shall become freely transferable on the date that is 26 months after the date of issuance, and the remaining 25% shall become freely transferable on the date that is 30 months after the date of issuance.
The Second Tranche Shares, if any, shall be subject to contractual transfer restrictions, to be implemented by restrictive legend and/or stop-transfer instructions, such that all of the Second Tranche Shares shall become freely transferable on the date that is 18 months after the date of issuance.
The First Tranche Shares and the Second Tranche Shares will also be subject to a hold period expiring four-months and one day following the date of issuance in accordance with applicable securities laws.
NSR Royalty
Comstock to retain a net smelter returns royalty (the "NSR Royalty") upon the Acquired Properties. The royalty rate of the NSR Royalty with respect to each part of the Acquired Properties (the "Royalty Rate") shall be 1.5% less the existing royalty burden on such part of the Acquired Properties as of the Effective Date; provided, that, with respect to any part of the Acquired Properties situated in Lyon County, Nevada (a "Lyon County Parcel"), the Royalty Rate shall not be less than 0.5% unless the existing royalty burden on such Lyon County Parcel as of the Effective Date is greater than 2.25%, in which case the total royalty burden on such Lyon County Parcel including the NSR Royalty shall not exceed 2.75%. For the avoidance of doubt, if the existing royalty burden on a Lyon County Parcel as of the effective date is 2.75% or greater, the Royalty Rate applicable to such Lyon County Parcel would be 0%.
The Buyer shall have the right at any time to repurchase 100% of the NSR Royalty for a payment of US$3,500,000, provided that if the seven-year period for the payment of the Contingent Payment has lapsed without the payment of the Contingent Payment, the royalty buyout payment shall be increased to US$7,000,000.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Darwin Green, Chief Executive Officer and director of the Company, and a Qualified Person under NI 43-101. Mr. Green is not independent of the Company. Mr. Green has not verified the historical data pertaining to the Acquired Properties disclosed in this press release, including the historical estimate, as such data is historical in nature and the original data is not readily available to the Company.
Mackay Gold & Silver Corp.
Mackay Gold & Silver Corp. is a Nevada-focused gold and silver exploration company with 100% control of a large, consolidated land package in one of America's richest, productive and oldest mining districts. With an estimated 8.2 million ounces of historical gold production and 192 million ounces of silver produced between 1859 and 1926 from so called 'bonanza lodes' that averaged 35 g/t gold and 726 g/t silver, the Comstock district is recognized as one of America's highest grade epithermal systems and an attractive setting for modern discovery. Led by an experienced team with a strong track record of discovery, development, and value creation, Mackay is well funded and committed to delivering shareholder value through disciplined exploration and responsible resource development.
On behalf of the Board of Directors
Darwin Green,
Chief Executive Officer and Director
Further Information
For further information, please contact:
Mackay Gold & Silver Corp.
Suite 405, 375 Water Street,
Vancouver, British Columbia V6B 5C6
Canada
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes, among other things, information regarding: the ability of the Company to carry out its exploration and land consolidation strategies and the timeline thereof, the discovery potential for the Comstock District, the ability of the Company to verify the historical estimates, the satisfaction of the conditions precedent under the Agreement and the closing of the acquisition of the Acquired Interests.
Readers are cautioned that forward-looking information is not based on historical facts but instead reflect management of the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are, among other things, the following: the ability of the Company to obtain regulatory approval, changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; stock market volatility that may adversely affect the price of the Company's securities; the ability of the Company to carry out its exploration and land consolidation activities as currently contemplated; and compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302311
Source: Mackay Gold & Silver
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Comstock Metals vybuduje v Cambridge v Ohiu průmyslové zařízení na recyklaci solárních panelů a logistické centrum. Projekt má vytvořit 20 plných úvazků a získal grant od JobsOhio ve výši 75 000 USD.
VIRGINIA CITY, Nev., June 24, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) (“Comstock” and the “Company”) is pleased to announce that Comstock Metals LLC, a wholly owned subsidiary of Comstock Inc. (NYSE: LODE), a leader in the responsible recycling of end-of-life solar panels with the only certified, North American, zero-landfill solution, announced today, in collaboration with JobsOhio and OhioSE, its selection of Cambridge, Ohio, as one of the national locations for its industrial-scale solar panel recycling and production facility and logistics hub. The Ohio operation is expected to create 20 full-time positions.
The project is supported by a newly announced JobsOhio $75,000 Grant, which promotes economic development, business expansion, and job creation by funding eligible projects. OhioSE supported and assisted the company through the process of establishing itself and obtaining this financial assistance.
Comstock Metals LLC specializes in sustainable, industrial-scale recycling of end-of-life solar panels, that cleanly recovers valuable materials, including aluminum, copper, silver, and glass, using a fully circular, zero-landfill solution. The company has operated its initial recycling facility in Silver Springs, Nevada, for the past two and a half years, where it is currently scaling to 100,000 tons of solar panels annually, and achieves 100% material recovery. The Cambridge facility will expand that capacity to ultimately produce aluminum, silver, and glass bead outputs for resale into Midwest industrial supply chains.
“Comstock Metals’ decision to establish its first Ohio processing and production facility in Cambridge reflects the strategic advantages the state offers growing companies,” said JobsOhio President and CEO, J.P. Nauseef. “With its centralized location and strong logistics network, Cambridge is well positioned to support Comstock Metals’ continued expansion as demand for solar recycling services grows across the country.”
Founded in 2022 and headquartered in Silver Springs, Nevada, Comstock Metals has built a national customer base across the Southwest, Midwest and eastern United States. The Cambridge facility will enable Comstock Metals to reduce long-distance transportation costs, which can account for 30 to 50 percent of total recycling expenses, while better serving its growing Midwest and eastern US customer base. The company has identified a 21,570-square-foot facility with an adjacent laydown yard.
“Our new Cambridge facility in Ohio is an integral part of our growing national capacity of logistics, storage and recycling of end-of-life solar materials that are decommissioning across the country,” said Corrado De Gasperis, Chief Executive Officer of Comstock Inc. “We truly appreciate the collaboration with JobsOhio and OhioSE for supporting and enabling these jobs. The speed that we build these human systems and deploy our recycling network is critical to keeping these hazardous materials out of our landfills, communities and eco-systems.”
“The central Ohio location provides a cost-effective, logistical solution for our growing Midwest and Northeast US customer base, supporting the company’s goal to set the standard for solar recycling here in the United States,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Our team has developed a strong network of relationships in the eastern US with solar power producers, O&M groups, and manufacturers. The support from JobsOhio and OhioSE is an important step in our nation’s recognition and prioritization of these critical recycling activities that best serve our communities.”
“We are grateful for the decision of Comstock Metals to invest in Guernsey County,” said Matt Abbott, President & CEO of OhioSE Economic Development. “This investment continues to prove the positive momentum that is taking place in eastern and southeastern Ohio,” said Abbott.
“Guernsey County is excited to welcome Comstock Metals to the community and are grateful for their investment and the new job opportunities they will bring to Jackson Township,” said Bill Arnett, Executive Director, Cambridge-Guernsey CIC. “We look forward to supporting them through their local startup and future growth opportunities,” Arnett said.
The Cambridge-Guernsey County CIC was created by the Guernsey County Commissioners in 1965 and designated by resolution to perform the economic development functions for the County, City of Cambridge, and Village of Byesville. It was joined in this function in 2000 by the creation of the Guernsey County Port Authority. Operating out of the same office with a common director and staff, the organizations are positioned to offer the best resources of each to help businesses locate or expand in Guernsey County.
Ohio Southeast Economic Development (OhioSE) is the JobsOhio Network Partner for southern, eastern, and southeastern Ohio, providing economic development work and resources in 25 rural counties. Geographically the largest of the seven regions across the state, OhioSE partners closely with regional development districts, local economic development offices, state agencies, and other entities to expand, retain, and attract businesses in the counties they serve. Learn more at OhioSE.com or contact Sarah Arnold, OhioSE Director of Communication & Marketing: (740) 525-5510 and [email protected].
JobsOhio, Ohio's private nonprofit economic development corporation, enhances company growth and personnel development through business attraction, retention, and expansion across ten competitive industry sectors. With a team of seasoned professionals, JobsOhio utilizes a comprehensive network to foster talent production in targeted industries and attract talent through Find Your Ohio. Collaborating with seven regional partners, including Dayton Development Coalition, Lake to River Economic Development, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership, and Team NEO, JobsOhio delivers world-class customer service to provide companies with a competitive advantage. Follow JobsOhio at LinkedIn, Twitter and Facebook. Learn more at www.jobsohio.com or contact Matt Englehart, JobsOhio Communications Manager: (614) 300-1152 and [email protected]
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics.
To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222 [email protected]
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573 [email protected]
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “forecast,” “seek,” “target,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: expectations regarding the completion of the proposed securities offering, future market conditions; future explorations or acquisitions, divestitures, spin-offs or similar distribution transactions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: sales of, and demand for, our products, services, and/or properties; industry market conditions, including the volatility and uncertainty of commodity prices; the speculative nature, costs, regulatory requirements, and hazards of natural waste resource identification, exploration, development, availability, recycling, extraction, processing, and refining activities, including operational or technical difficulties, and risks of diminishing quantities or insufficiency of grades of qualified resources; changes in our planning, exploration, research and development, production, and operating activities; research and development, exploration, production, operating, and other variable and fixed costs; throughput rates, margins, earnings, debt levels, contingencies, taxes, capital expenditures, net cash flows, and growth; restructuring activities, including the nature and timing of restructuring charges and the impact thereof; employment and contributions of personnel, including our reliance on key management personnel; the costs and risks associated with developing new technologies; our ability to commercialize existing and new technologies; the impact of new, emerging, and competing technologies on our business; the possibility of one or more of the markets in which we compete being impacted by political, legal, and regulatory changes, or other external factors over which we have little or no control; the effects of mergers, consolidations, and unexpected announcements or developments from others; the impact of laws and regulations, including permitting and remediation requirements and costs; changes in or elimination of laws, regulations, tariffs, trade, or other controls or enforcement practices, including the potential that we may not be able to comply with applicable regulations; changes in generally accepted accounting principles; adverse effects of climate changes, natural disasters, and health epidemics, such as the COVID-19 outbreak; global economic and market uncertainties, changes in monetary or fiscal policies or regulations, the impact of terrorism and geopolitical events, volatility in commodity and/or other market prices, and interruptions in delivery of critical supplies, equipment and/or raw materials; assertion of claims, lawsuits, and proceedings against us; potential inability to satisfy debt and lease obligations, including because of limitations and restrictions contained in the instruments and agreements governing our indebtedness; our ability to raise additional capital and secure additional financing; interruptions in our production capabilities due to equipment failures or capital constraints; potential dilution from stock issuances, recapitalization, and balance sheet restructuring activities; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to maintain the listing of our securities on any securities exchange or market; and our ability to implement additional financial and management controls, reporting systems and procedures and comply with Section 404 of the Sarbanes-Oxley Act, as amended. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
