Comstock targets a 25% solar recycling line start in August after reporting a Q2 net loss of $8.5M. The $20M mining asset sale would nearly triple its cash balance.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Comstock Inc. (LODE) reported a second-quarter net loss of $8.5 million, or 8 cents a share, compared with a net loss of $6.2 million a year earlier. Revenue came in at $1.2 million, up from $800,000 in the same period last year, driven by initial revenue from its metals recycling and fuel production segments.
The company ended the quarter with $3.2 million in cash and equivalents. Comstock said it expects to close the sale of a mining asset for $20 million in cash during the third quarter, which would push its cash balance to roughly $23 million.
On the call, CEO Corrado De Gasperis said the company's solar panel recycling line in Atlanta is on track to begin operations in August at 25% of its 100,000-tonne-per-year capacity. The ramp is tied to a supply agreement with a major U.S. solar developer, which Comstock declined to name. The line is expected to reach full capacity by the end of 2026.
Comstock's fuels segment, which focuses on renewable diesel and sustainable aviation fuel feedstock, remains in the pilot phase. The company said it is pursuing a Department of Energy loan guarantee to fund a commercial-scale plant. No timeline was provided.
Shares of Comstock, which have lost roughly 60% over the past 12 months, were flat in after-hours trading. The company did not provide formal guidance for the full year.
Prepared with AlphaScala editorial tooling from the source reporting linked above. Indexable analysis may include a cited Alpha Score value. Publishing checks screen each story before release. Educational coverage, not personalized advice.