Comstock Stock

Comstock innovates technologies that efficiently use wasted and under-utilized natural resources to produce renewable energy and other products that contribute to balancing global uses and emissions of carbon and enhance mineral and material discoveries.

The company plans on achieving significant financial, natural and social returns by using its and other's technologies to develop production-ready projects that it will license to qualified clients, and to sell an array of complimentary process solutions and related services.

The company's Cellulosic Fuels technologies include proprietary processes that have the potential to convert vast quantities of historically wasted and unused but widely available and rapidly replenishable woody biomass supplies into advanced renewable fuels capable of sustainably offsetting billions of metric tons of fossil fuel emissions worldwide.

The company's Electrification Metals technologies include a two-stage lithium-ion battery (LIB) recycling process designed to crush, separate, and condition LIBs for the production of high purity black mass minerals available for extracting battery grade metals.

The company owns and operates pilot facilities for its Cellulosic Fuels and Electrification Metals technologies that it uses in its ongoing technology development and commercialization efforts. The company also holds a worldwide license to advanced new Mining technologies that will use machine learning and artificial intelligence algorithms, hyperspectral orbital imaging, and ultimately, quantum-enabled sensors to provide high precision prospecting information in mineral discovery and mining applications.

The company has also consolidated and owns or controls the most significant portions of the historic Comstock gold and silver mining district, consisting of 9,472 acres of patented mining claims, unpatented mining claims and surface parcels (due to overlapping interest, the combined area is approximately 7,586 acres) located in Storey and Lyon Counties, Nevada, which the company will use as the proving grounds for these mineral discoveries and mining technologies.

The company's strategic plan is based on innovating and licensing its technologies and the renewable energy that they enable to reduce reliance on long cycle fossil fuels, to shift to and maximize throughput of short cycle fuels, and to lead and support the adoption and growth of a balanced global short cycle carbon ecosystem, with embedded economic incentives to offset, recycle, and contribute to neutralizing emissions by growing and selling more feedstock and fuel.

The company's investments include advanced new technologies involving quantum computing based materials engineering to create quantum-enabled generative artificial intelligence and sensing technologies to develop breakthrough new materials for energy storage, electronics, and data enhanced mineral exploration and mining.

The company's Cellulosic Fuels solutions dramatically alter that dynamic by unlocking and efficiently converting wasted, unused, and rapidly-replenishable woody biomass and other short cycle renewable resources into intermediates and precursors for the production of carbon neutral crude oil, ethanol, gasoline, renewable diesel, jet fuel, marine fuel, and other renewable replacements for long cycle fossil derivatives.

Segments

The company operates through three segments: Renewable Energy; Mining; and Strategic and Other Investments.

Renewable Energy segment

This segment will develop technology for the deploying of extraction and refining facilities that convert wasted and unused biomass and other natural resources into valuable renewable energy, including intermediates and precursors for advanced renewable fuels, such as carbon neutral oil, ethanol, gasoline, renewable diesel, sustainable aviation (jet) fuel and marine fuel and electrification products. The company is evaluating several alternatives, for licensing to partners, for the construction of facilities based on its Cellulosic Fuels technologies. The company is also developing an existing demonstration system to extract highly-pure black mass containing lithium, graphite, nickel, cobalt, manganese, copper, aluminum and other metals from up to lithium-ion batteries (LIB). This segment will initially license selected technologies to strategic partners and customers, and offer an array of complimentary upstream and downstream design, engineering, fabrication, procurement, and construction solutions based on its experience and core competencies in technology development, process engineering, and project deployment, with a focus on processes that support long-term feedstock and offtake clients.

Mining segment

This segment has consolidated the most significant portions of the historic Comstock mining district, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and completed two phases of test production. Comstock and its mining subsidiaries own, control, or retain interest in twelve square miles of primarily mineralized properties, or 9,472 acres (and due to overlapping interests, the combined area is approximately 7,586 acres) located in Storey and Lyon Counties, Nevada, just south of Virginia City, Nevada (referred to collectively herein as the Comstock Lode District). The volume of geologic data is significant, particularly in the Lucerne and Dayton resource areas. The company has completed extensive geological mapping, sampling and drilling on a limited portion of the Comstock Lode District's property, particularly the Lucerne and Dayton resource areas, in order to characterize the mineralized material.

Strategic and Other Investments Segment

The company owns and manages several investments and projects that are strategic to its plans and ability to produce and maximize throughput in its renewable energy and mining segments, but that are not a component of either such other segments or otherwise have distinct operating activities for management purposes. The company's strategic and other investments segment includes its recent investments in quantum-computing based materials engineering and other decarbonizing technologies, as well as its non-mining property development assets and related investments.

Intellectual Property

Comstock IP Holdings (Comstock IP Holdings LLC) holds the company's portfolio of patented, patent-pending, and proprietary technologies, including its Cellulosic Fuels and Electrification Metals technologies, as well as an array of additional processes, including atmospheric water harvesting and carbon capture and utilization. The earliest of the company's patents are scheduled to expire is in 2033, however, it has additional issued and pending patents that are expected to expire at later dates.

Properties

The company's mineral estate consists of 9,472 acres (due to overlapping interests, the combined area is approximately 7,586 acres) located in Storey and Lyon Counties, Nevada (referred to collectively as the company's 'Mineral Estate'), including fee ownership of real properties and claims, five mineral leases, one LLC membership interest (providing exclusive rights to exploration, development, mining and production), and royalty interests. The Mineral Estate includes 130 patented lode mining claims totaling 1,376 acres with surface parcels increasing the total to 2,533 acres, 381 unpatented lode mining claims administered by the BLM totaling 38 unpatented placer claims, and one unpatented mill site claim, all totaling approximately 6,939 acres, and covering 6.5 miles of strike-length on the Comstock and Silver City lodes.

Dayton - Spring Valley

The Dayton Consolidated Project is an exploration stage project 100% owned or controlled by Comstock Exploration and Development LLC, a wholly owned subsidiary of Comstock.

The mineral property includes 68 unpatented lode claims, 38 unpatented placer claims (1,908 acres), 41 patented lode claims (612 acres), and 16 surface parcels (461 acres). The Company fully owns these properties, except for the Haywood Quarry property, which the Company has full access to and is controlled by a purchase agreement, with the final payment due in 2024, and pays annual claim fees to the BLM for each of the unpatented claims.

The Dayton deposit is located on the southern extension of the Silver City fault and hosted in Miocene age locally defined volcanic sub-sets of a bimodal volcanic dome event.

Lucerne

The Lucerne Project is an exploration stage project 100% owned or controlled by Comstock Mining LLC, a wholly owned subsidiary of Comstock. The property is located in Storey County, Nevada.

The mineral property includes 81 unpatented lode claims, 1 unpatented mill site claim (833 acres), 34 patented lode claims (271 acres), and 39 surface parcels (101 acres), all owned by Comstock, or controlled through Comstock's 50% membership interest in Northern Comstock LLC. The Lucerne deposit is located along the hanging wall of the Silver City fault.

Other Property

The company holds an investment in Sierra Springs Opportunity Fund, Inc. (SSOF), a qualified opportunity zone fund, which wholly-owns a qualified opportunity zone business, Sierra Springs Enterprises, Inc. (SSE). As of December 31, 2022, the company owned 11.64% of the voting shares of SSOF.

Research and Development

For the year ended December 31, 2022, the company's research and development expenses were $7,023,132.

History

The company was incorporated in 2008. It was formerly known as Comstock Mining Inc. and changed its name to Comstock Inc. in May 2022.