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Comstock Inc. (LODE-4.17%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Comstock's operations in renewable fuels, metals, and mining. The company focuses on innovating and commercializing technologies that convert under-utilized resources into clean energy products.
Comstock's Fuels Segment, managed by Comstock Fuels Corporation, is working on developing technologies to produce renewable fuels from biomass. The segment plans to build a network of Bioleum Refineries in the U.S. by 2035.
The Metals Segment, managed by Comstock Metals LLC, operates a demonstration-scale solar panel recycling facility. The segment plans to expand operations to meet the growing demand for domestically recovered metals.
The Mining Segment, through various subsidiaries, owns and manages mineral properties in Nevada. The segment generated income from leases and licenses during 2024.
Comstock's Strategic Investments Segment includes minority equity investments in companies like Green Li-ion and Sierra Springs Opportunity Fund, focusing on advanced biofuel development and real estate.
The company reported a net loss of $53.4 million for the year ended December 31, 2024, compared to a net income of $10.5 million in 2023. The loss was attributed to increased research and development expenses and impairment charges.
Comstock's liquidity is supported by cash from financing activities, including equity issuances and debt financing. The company plans to fund operations through sales of non-strategic assets, subsidiary-level equity, and other financing alternatives.
The company is focused on advancing its renewable fuels and metals businesses, with objectives for 2025 including securing financing for its first commercial biorefinery and industry-scale metal recycling facility.
Comstock continues to evaluate its strategic investments and plans to monetize non-strategic assets to support its growth initiatives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Comstock Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.