Comstock (LODE) Lytham Partners 2025 Industrials & Basic Materials Investor Summit summary

Company origins and innovation platform

• Originated from a historic silver discovery, evolving into a hub for industrial mining innovation and later revitalized with a focus on sustainability and technology.

• Leadership experience in turning around industrial companies led to a systemic, innovation-driven approach.

• Shifted from traditional mining to investing in renewable technologies, birthing new business lines in fuels and metal recycling.

• Emphasis on creating sustainable, non-depleting resources through technology and systems thinking.

• Platform integrates environmental stewardship with profitability and innovation.

Fuels segment: technology, agreements, and 2025 objectives

• Developed a process to convert waste wood into high-yield, carbon-negative fuel, surpassing industry standards.

• Key agreements signed with Hexas Biomass, RenFuel, and the National Renewable Energy Lab to secure feedstock and enhance technology.

• Five international license agreements and state support in Oklahoma, with site selection for the first refinery underway.

• Marathon Petroleum invested in the fuels subsidiary, with Series A closing and project financing targeted for Q2 2025.

• Objective to establish a fully integrated supply chain and set a new standard for renewable oil production.

Metals segment: technology, process, and 2025 objectives

• Pivoted from battery recycling to solar panel recycling, addressing a growing end-of-life crisis for panels.

• Proprietary technology efficiently removes contaminants, enabling clean recovery of aluminum, glass, and silver.

• First facility targets 100,000 tons/year, with significant cash flow and potential to become the largest silver producer in Nevada.

• Securing major utility and clean energy customers, with permits submitted for industry-scale expansion.

• 2025 milestones include customer announcements, permit completions, and scaling up operations.