Comstock (LODE) 10 Nov 212021 Q3 Earnings call transcript

Good morning everyone and welcome to our Zoom call today. I'm actually very excited about this update. There's been a tremendous amount of activity over the last six months for sure and I'll provide a brief summary of the information that was included in our press release from this morning and from our quarterly report filed on Form 10-Q last night. Those updates will include our progress on recent breakthroughs in lithium-ion battery recycling and especially lithium extraction, cellulosic extraction for producing biofuels, and also comment on the effective restart of our mercury remediation operations in the Philippines and also some promising developments coming online with Tonogold. I'll try to be brief in my prepared remarks and I'm really looking forward to the Q&A.

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fully now resumed operations. are We

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in to or then to It's positioned the otherwise. terms than activities significant opposed something performance-based. the for we're targets we set go build if questions to in ownership related exponentially succeed it regardless is because our other XX% larger neither any not we. that questions. that and comp of because our Zach at be than insider terms XXX% turn Q&A really of are really start the the here such are forward. them me shareholders to of everyone structured greater that it in I'm not growth of we looking those as over rewarded grow and As to We're any we in I'll feeding

All right. Thank you Corrado.

lithium too. there seem to Nevada They extraction and How compare Other what time. timing at working relative competitors? is, to to to there commercialization? to does this trying these area are batteries the in used source firms time factors recycling significant other well on Our be probably be question differentiating as Comstock in first seems other than the

Outstanding. Thanks Zach.

battery a state-of-the-art fully of So terms that recycling say, first, we differentiation have facility. XXXXXX-square-foot in let me

the one. understand highest That least As have a lithium. as the terms see industry we and the two, the don't anybody in to facilities in in existing Number of that contaminated results mass in and with the we value minerals of on submitted, most that purest crush the permit number that charged state. the including it, advanced far residual been dry materials are applications we're are ground black looking

about We Thirdly, we almost have extracting critical of to lithium and extract talking don't is end the even losses such lithium Most ability our lithium with to meaningful graphite. intellectual at are very cobalt, as process such as of processes the as instantaneously anyone the property super process. and produce front using in the end of such process. front the at nickel, manganese minerals the designed believe

hopefully, expert coming a front lithium-ion the ability is terms and in coming is low is XXXX not of in not obvious. There terms than process, with of in later a of tsunami not is market. to It's It's enables Our graphite What obvious out or value the us, important market profitable end at of of coming extract of also very lithium much market. coming. but anything it's What's in batteries is as differentiates and endeavor, that the volumes this even is no totally right? just The but process XXXX. in very the timing, other the the batteries. predicting lithium-ion tsunami it

to If going have a then at that's battery you have sustainable by produce of profitably feedstock business case relatively lithium our extracting you point. low explode enabled the to amount ability in a some

it. McKinsey, a the be industry and going mineral associations, as we're coming is explosion best for any to experts, talk the you whole, the the If to positioned of

Corrado. you, Thank right. All

The it course Act, lines is to confidence stands battery meet Is was Our storage that and next which XXXX. have recycling and Resource time for is, Conservation do in your RCRA's refer Recovery of about enacted site we you in question RCRA-approved? your operation? question RCRA, to RCRA whereas

question. Excellent

waste So for a And the that here we written determination. through under the called the permitting we're the RCRA on processing process don't as is permit management. Nevada, site. is hazardous guidelines long batteries hazardous in the as Nevada leading to determination authority And is Department Environmental done the using Protection for store operate RCRA materials allowed

So we that authorities a It's on context, operating year all that indicated. by we and the the recyclers confident of next we'll permits going very the line we store the important up site. to batteries distinction. not that quarter will first and In be allowed. highly on of are and are have time that None

we're storage, one materials allowed site with dedicated proximity storage processing at site. Secondly, record in very a we're of secured a lithium-ion requires to And year all is up to immediate store ID. our facility. operating batteries really since not XXX-acre that We a just there

So permitting, than if question. the answers it's And that takes had fully a large-quantity is universal that RCRA facility which require waste different that relatively you hope I years. many would full often permit-light. recycling permitted

Okay. The of question Thanks, new that commercialization map plan? brief reiterate next is each first a businesses, date Corrado. could and activity commercial your is of you for

Yes.

that. give me Let

saleable Nevada. lithium, prototype a system prototype is market lithium but our extraction. then we That We're going in will of provide operating June to time a May, to coming have we'll in to are that. that, on quantities time crushing April showcase through coming for that to sample the So materials material from have Wisconsin of have frame. and Immediately also separating will March, capability the produce That in the following going full the in online have added lithium frame. we extraction And January.

revenues then added projecting fourth very volume which of be lithium in the likely extraction Following low or early quarter will profitability. fourth will the on and at quarter we have a extraction most of XXXX, lithium

is So one. very that's interesting. Cellulosic number fuels

similarly prototype and cellulosic in running the will have extraction We a April up in Wisconsin March, full frame. time

higher in which for in if months. started time throughputs and you scheduled reengineering, that's us online exciting that updating already facility will, most processing cannot six the The that company resulted Minnesota. the much, happened be which XXXX in we the last has would - first have the it's facility, engineering much of We our in to I remarkable. It's scheduled in had breakthrough thing for come

and millions a and there's to We've show who recently revenue, their here. shocking revenue However, of capability, services weren't companies can technology by fuels accelerator and recognizable we for have use this approached from major extraction Once happening in meaningful be much, a it revenue, stated if to approached this purchase up, much of technology. XXXX an been every tens even if very in large pulp technology the expect paper. counterparty petroleum And you would and carbon targets cellulosic equipment it same different XXXX if producer user for cellulosic carbon by same use the and manufacturing we engineering project of by lining shocking every to be these goals. they concept this using and to this XXXX, bigger would meet fuel will,

have a of royalty companies profit hugely So selling profitable, beyond own. create services we these engineering We to to decarbonization spectrum cash-producing and manufacturing there's of of across wide a cash as well. that. we technology. services XXX% share, ability of transportation the have XXX% own by to we accelerate And but industries also are share business share, them in opportunities themselves our of The our opportunity huge to an the huge the own company,

have now building first and quarter so, in of about those models discussion a XXXX. lot And that of we're just the we'll

Okay.

let Zach me thing. say more one

Okay. I'm sorry.

and up we're running. MCU With

there that. the on as care about guidance we'll we of revenue kind question just gold. start forward. operation okay? we clearly very established. be No flaw. very, some improved containing every all Once But track part more level, We being the produce materials. gold concepts it here We're meaningful gets are we a the moving It's It’s seeing revenue then We gold, positive forward. we'll important there selling go to did when containing quarter from the mercury, mercury The more gold, is will small provide there. fatal and better of

that. Thanks question how was is implement yes. years? be next required MCU. There three plan update to your about a will much for capital question the that growth for Okay next The on

requirement been is made how and $X been careful important like an deployed investment activities. cash. the capital of question, already over million over in these of very the this So using this been example year we've investment done, was capitalizing already A cash lot $X through million stock capital with right? through provided. We've We has of that

LiNiCo There that next certainly So first can look can't of flows year it's the us projects that of year. that plan those as we we've that funded capabilities be important about we forward. here demonstrate through a half next financed to talked reason debt that purporting shouldn't the is the we cash are when And for in at the first generate. be they quarter

we're support. has cetera to about for the and government excited materials that. -- been of everybody grants, are et fuels tremendous subsidies significant about And infrastructure credit significant being a I'm neutrality. plan carbon that very provided sorry, cellulosic mineral With there's talking the material So and amount the the

that impactful, If are technologies you of need list. top list a be of at the very we'd most the the

access who for subsidies and to with mineral in all of I benefit the the of been Las those to Monday tremendous. spent Vegas Our is primary sponsors the day funds Senator one extraction has availability Nevada. Masto,

carbon subsidies people establish to part is killing spot. generates down are there's a financed. more dilemma. scenario be Minnesota, couldn't carbon-neutral wood industry not debt carbon pure we in But position. activity the renewing the she more negative also in dead in hurting, big less what has the excited. be be of be even carbon of operation is puts We hurts billion We're to So able carbon footprint, the footprint. wood in grants the The for footprint. of carbon-neutral, that trees But the part it up if and sweet those demonstrating into millions flow a hurts it's even a waste has wood we're because projects where cellulosic, in pure Cutting sure carbon then forestry cognizant profiles interest-free Dead getting even year, carbon could there couldn't tons one -- loans, that but right. of detriment, every us and cash forestry an hundreds to absolutely are mean industry I Taking fuel, excited.

The just only story for XXXX, the the We're ready They're that, entire Internet. and are returns be I be That's these capital is million that no to hear technologies of sensitive this too, is capital. to story definitive with million not in And itself. exchanged. and just the decarbonizing and which business could them other But strong what deploy the impact to conversations, it's big manufacturing but and The this have Comstock. requirement, construction thrilled big $XX plus in it's for plus people engaged. going be there providing progressing. in already don't coming. ranging They're this with we revenue going capital that to to we're engineering, be the $XX about revenue, not million And announce profits us are require we've proposals will from side million agreements in of the an remarkable. $XX to is using specifics recognized proposals services so it's for to no mean, industries compete load other coming $XXX for.

Sight So this a from is I from months appreciate Innovations, conversation is This Plain is we've David on day new. XX first engaged we day sights the this the for that first new. brand-new that, had that, our acquisition in Chief the them last now days first to our loans that ultimately bridge to the deep our XX and made Officer demonstrated dive from then who Winsness, this and we XX us planning. is to technology Technology

the on moving pace. But a patience I So appreciate your appreciate, at going this to to different fast. and it's We're it's I going discussion. start come part new, of

question, questions Corrado answered based that that a on you in actually we answer have your the queue. quite to few

an on a assets? provide just question little, update the pivoting next please can So sale non-core of you the is,

Absolutely.

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the management please to non-core from members as provide as on new the President the Transitioning and team, information of team. CFO, your assets management well other

Absolutely.

sort the series hidden jewel that acquisitions is this of we've completed. the So of of

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what Valley? that, questions the for. now, people looking perfect. you Consolidated properties about was can please several update Spring and that pivoting Comstock to the were in so portfolio, had We've provide the And That's properties, No. mining southern our on an

Yes.

two So, there. meaningful points

Complex. reports resource team by been second result very hard the know Valley one new in being a for on with going that's the working technical on the model finalizing on Tonogold north Our Comstock has to issued two report, south. We by Dayton-Spring one technical

engineering We that resource are model now.

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It's and X,XXX full for There's secured believe our going out validating. us like for -- to to going another that adjacent not, could or XX is property It's thing going coming. aggregate tons surging I and be to And the it's million possibilities. the This towards Dayton-Spring battery. mentioned really all timely. as has, Valley that the to of any be exciting southern it we positions acres it. is I part that lithium we So XXX of be to material Complex mined for be of get said, published. district It also

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our that of valuable more in. to the has to silver value and we're never So play Comstock when and as to puzzle the only stronger. technical going and up an in been ridiculous scenario fiscal reports continue in more the we this We're presents move more irresponsible valuable then price these show more gold district get putting few of government extremely and commitment last It that's pieces place. a

can The GenMat. any a you question provide next question looking update is that on for

Sure.

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