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VIRGINIA CITY, Nev. - Comstock Inc. (NYSE: LODE), a $92 million market cap company showing strong momentum with over 45% returns in the past year, through its subsidiary Comstock Metals, has obtained unanimous approval for a conditional use permit from the Lyon County Board of County Commissioners in Nevada. This permit, announced today, allows for the expanded storage of solar panels near the company’s upcoming industrial-scale recycling facility in Silver Springs, Nevada.
The permit supports Comstock Metals in addressing the solar industry’s need for end-of-life solutions by providing ample storage space for major utility and solar industry customers. This expansion is essential for the logistics of the region’s first large-scale solar panel recycling center, which aims to offer a 100% closed-loop, zero-landfill recycling process.
Executive Chairman and CEO of Comstock Inc., Corrado De Gasperis, expressed gratitude towards Lyon County for their swift action in granting the permit, which responds to robust market demand and the company’s commitment to environmental sustainability. Comstock Metals has secured master service agreements with major utilities following third-party auditor certification of their recycling capabilities. According to InvestingPro data, the company has demonstrated impressive revenue growth of 102% over the last twelve months, though it maintains a careful eye on cash management.
Dr. Fortunato Villamagna, President of Comstock Metals, indicated that the Silver Springs facility is nearing the final stages of permitting and is expected to begin commissioning in early 2026. For investors seeking deeper insights into Comstock’s financial health and growth potential, InvestingPro offers exclusive analysis and 10+ additional ProTips, including detailed cash flow metrics and valuation insights. The facility’s strategic location is primed to serve the burgeoning solar industry in the western United States, with a processing target of 100,000 tons of waste solar panels per year.
Comstock Metals is also recognized as the first North American solar panel recycling company to be certified by SERI to the R2v3/RIOS Responsible Recycling Standard, including Appendix G for zero-waste recycling. The company’s proprietary thermal methods enable the complete recycling of solar panels into commodity-ready materials.
This development positions Comstock Metals at the forefront of the solar panel recycling sector, contributing to the reduction of electronic waste in landfills and the recovery of valuable materials. With a beta of 1.51 indicating higher market volatility than average, and a healthy current ratio of 1.82, the company appears positioned for its expansion plans despite current profitability challenges. The information in this article is based on a press release statement from Comstock Inc. and enhanced with InvestingPro data.
In other recent news, Comstock Inc. reported its Q4 2024 earnings, revealing a significant net loss of $53 million or $3.21 per share, which fell short of the expected EPS of -$0.03. Despite this, the company experienced a notable increase in revenue, rising to $3 million from $1.3 million in the previous year. Comstock has also completed two equity-based settlements with the original founders of key assets, which have led to substantial savings and improved financial flexibility. In a separate development, Comstock updated its common stock description in a filing with the SEC, outlining its capital structure and shareholder rights. The company has authorized 245 million shares of common stock, with 24,238,453 shares currently issued and outstanding. Comstock’s metals segment is now fully operational, and the fuels segment has secured various commercial agreements to support expansion. Additionally, the company is focused on strategic partnerships and financing activities, as highlighted during their earnings call. These recent developments reflect Comstock’s ongoing efforts to enhance its financial and operational efficiency in the renewable fuels and metals markets.
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