George5289

[George5289 @george5289]

@NomadCarnivore How is MSFT's construction going next door? Need to get back out there soon

[George5289 @george5289]

Full Map of current $LODE and SSOF holdings in Silver Springs. About 2,200 ac. Red parcels recently acquired in June.

[George5289 @george5289]

@QTRResearch @AndrewYang It's already over... I prefer the acceleration vs 1,000 cuts over a decade

[George5289 @george5289]

@ChrisSstory @Yomommasay @LucasSacerdote_ Correct, it's eventual supply. They are seeing anywhere from 15-25 year lifespans, weather dependent. Cali mostly 2005-2015 installs. Breakage of new panels is another source. They are sitting on ~10k ton currently at their space. Proven model leads to more MSA's.

[George5289 @george5289]

@commonsenseplay Disagree with the disinflation as those statistics are tampered. Overall is a possibility. Every previous forex arbitrage was on fixed currency. Floating with the printer allows for endless ammunition against shorts. Remember…nominal yields can differ from real yields ;)

[George5289 @george5289]

@LawrenceLepard Always the possibility that something forces the use of stablecoins or stablecoins provide security/another benefit over traditional cash in time of panic, say helicopter money delivered through stablecoin/CBDC exclusively

[George5289 @george5289]

@Object_Zero_ Agree with the overall thesis. The inherent value of the land is based off what can be produced. Arable land is valued at the crop level less labor, geologic rich land is valued at the mineral less labor. If naturally available, no labor is needed. From there, development arises.

[George5289 @george5289]

@CJ0pp3l It is the lodecoaster, so you gotta buckle in if you want to ride ;) 🎢

[George5289 @george5289]

@CJ0pp3l On the daily or 15 year? New business model and today commissioned their larger 100k/ton solar panel recycling facility, largest in US. Check out this recent interview with the CEO. Also own 2,500 acres of prime NV land with anticipated 1.2GW of power…
https://t.co/i2wn0enhM6

[Lucas Sacerdote🔋 @LucasSacerdote_]

I sat down with Corrado De Gasperis @CDe_Gasperis , CEO of Comstock ( $LODE ), for a 90-minute deep dive into where the company stands today, and where it’s going next.

The story now centers on two core pillars: Solar recycling and powered land - alongside legacy assets being monetized to help fund the next phase of growth.

1.⁠ ⁠Solar panel recycling

Comstock is building an industrial-scale solar panel recycling business with 100% material recovery and zero landfill.

Its first commercial line came online today, with additional facilities planned in regions where large volumes of end-of-life solar panels concentrate.

2.⁠ ⁠Sierra Springs Opportunity Fund (SSOF)

Comstock owns ~47.63% of SSOF. Roughly 2,500 acres of powered land in Northern Nevada, which is being positioned for monetization as demand from data centers continues to grow.

SSOF has secured 250-300MW of natural-gas transportation capacity with Great Basin Gas Transmission Company. This would allow behind the meter generation, with no utility (NV Energy) queue dependency.

(Potential expansion to ~1.2GW. Still in the works.)

Other investments:

Alongside these two core pillars, Comstock still holds other investments. The largest is Bioleum, its renewable fuels platform focused on converting biomass into oil.

Monetizing the legacy mining assets:

Comstock is also selling its historic mining assets, with proceeds intended to help fund the growth of the broader platform.
The value is roughly $45M in total, with approximately $20M of cash proceeds expected in the coming weeks.

Corrado and I went through each part of the story in depth:

•⁠ ⁠Unit economics
•⁠ ⁠Competitive positioning
•⁠ ⁠Moats and barriers to entry
•⁠ ⁠Capital requirements
•⁠ ⁠Capital allocation across the platform

I hope the conversation gives viewers a clearer picture of both the opportunity ahead and what Comstock still needs to execute on.

Timeline:

00:00 Introduction & disclosures
01:10 Comstock overview: metals, mining sale & SSOF
04:00 Solar recycling unit economics & market size
10:56 Scaling 20x: expansion pace & de-risking the first industrial facility
17:25 Beyond tipping fees: glass upgrading & metal extraction
27:47 Theory of Constraints: today's real bottleneck
30:59 Policy, competition & the Illuminate USA win
42:52 Sierra Springs (SSOF): powered land for data centers
53:31 Bioleum: funding, unit economics & scenarios
1:18:41 Capital allocation, dilution & per-share compounding
1:30:07 Scorecard: 3 facts to judge execution by year-end

The full 90-minute interview is also available on YouTube. Link in the comment section.

Disclaimer: Opinions expressed are our own and are provided for informational purposes only. Nothing herein constitutes investment advice or a recommendation to buy or sell any security. Valora Investment Group LLC and accounts advised by the firm hold positions in Comstock.

[George5289 @george5289]

@LucasSacerdote_ @CDe_Gasperis Great interview! Would love to see an LOI on SSOF land soon. #LODE

[George5289 @george5289]

@SpeculatorPL1 $LODE

[George5289 @george5289]

@NomadCarnivore @CapnAtlas0 #tripledigitsilver

[George5289 @george5289]

@KC_Invests Reminiscences of a Stock Operator - Jesse Livermore tried the same thing with coffee after WWI, only to be sabotaged by government intervention.

[George5289 @george5289]

@Malone_Wealth Compare the log chart of the S&P to the log chart of M2. Only going up.

[George5289 @george5289]

@NomadCarnivore At scale, the economics are wild; I think people are too conservative in their modeling. I view the execution as more binary... Fun when you consider $WM trades at a 31x P/E

[George5289 @george5289]

@Oliver_MSA Have to factor in dividends

[George5289 @george5289]

@JoshTradeOption $LODE

[George5289 @george5289]

@SultanAmeerali What, if anything, will be a signal to continue holding or dispose of $LODE? Know in the past you have, correctly, called some peaks along the way

[George5289 @george5289]

@broheim777 Was right on the call of SSOF's optioned land being currently owned by ERGS, gotta count the wins

[George5289 @george5289]

@broheim777 What is your source on the land being from the Duval family? Current parcels make 2000+ contiguous acres extremely difficult near the airport. I think it may be through ERGS but have no additional backup besides visual location