Comstock Inc. (AMEX:LODE) Q3 2023 Earnings Call Transcript
Comstock Inc. (AMEX:LODE) Q3 2023 Earnings Call Transcript October 26, 2023
Comstock Inc. beats earnings expectations. Reported EPS is $0.11, expectations were $0.02.
Operator: Ladies and gentlemen, welcome to Comstock's Third Quarter 2023 Business Results Webcast. This is Will Maze with RB Milestone. For those of you new to the story, Comstock is commercializing technologies that enable systematic de-carbonization towards the energy transition through three divisions – Comstock Fuels, which converts biomass into net zero renewable fuels; Comstock Metals, which recycles solar panels and critical metals; and Comstock Mining, which holds significant gold and silver resource in the target rich district in Nevada and plans to dramatically expand its reserves through generative AI-enabled mineral discovery. Comstock shares are listed on the New York Stock Exchange under the symbol LODE. Joining us today is the company's Executive Chairman and CEO, Corrado De Gasperis, and COO, William McCarthy, who will be discussing third quarter results and an update of current operations, and will be answering questions at the end of the presentation.
If you're interested in asking a question or logged into the Zoom app, you can submit questions to us directly in the Q&A module. Please note that this presentation is being recorded today, October 26, 2023, and will soon be made available on the company's website at comstock.inc. If you are registered for the presentation, you will be receiving a brief survey by email from RBMG. Your response will be very helpful to Comstock in strengthening its investor relations efforts and providing growing transparency going forward. We appreciate your participation. Today's call may contain forward-looking statements that are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements that are not guarantees of future performance of the company.
An aerial view of a city skyline, its buildings glittering in the sunlight, reflecting the company's focus on real estate investments. Editorial photo for a financial news article. 8k. —ar 16:9
No assurance can be given that any of these events anticipated by the forward-looking statements will occur or if they do occur, what benefits the company will obtain from them. Also, some risks and uncertainties may be out of control of the company. Comstock has a full disclaimer contained in their presentation. Lastly, RBMG is not a registered investment adviser or a broker-dealer. For more information, please visit rbmilestone.com. Now it's my pleasure to introduce Mr. Corrado De Gasperis and Mr. William McCarthy. Gentlemen, the stage is yours.
Corrado De Gasperis: Thanks, Will. Good afternoon, everyone. And welcome to Comstock's third quarter 2023 financial results and business update. As Will just said, you have both me and Billy McCarthy on the call today. And we look forward to overviewing a very strong third quarter and taking a much deeper dive into our fuels business. A lot of good detail that we look forward to sharing with you and a very positive outlook on all of our businesses. We also appreciate everyone that participated in the RBMG investor survey. As Will said, the feedback really helps us in delivering on and managing your expectations. You can find the link to the survey on the Comstock, Inc. investor page. We open up the survey after each quarterly call, starting today, and keep them open until the end of the quarter to get all of your feedback.
And if it comes to the survey, it directly informs our Investor Relations strategy and communications, and we act on it. For example, we're taking extra time today to better explain our fuels business based on the input and perceptions from that survey. Our update will also include the information from today's press release and our recently filed third quarter Form 10-Q. You'll find the press release at our website at www.comstock.inc, under Investors and in the Newsroom section. And hopefully, you've all had a chance to visit our new Comstock Fuels and Comstock Metals website with a direct link from Comstock's main page under Businesses. Let me start with the corporate and financial updates, then I'll move into the strategic investments, including GenMat, and then cover our Mining and Metals businesses before Billy provides a much deeper review for fuels.
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