Valais Value

Investor. Long-term, concentrated positions. Not financial advice.

[Valais Value @ValaisValue]

@CDe_Gasperis any news already? $LODE

[Valais Value @ValaisValue]

@kDarr66283 @AngelPubStocks Is there a LIB discord? For most of my stocks I am in one, not for LIB though

[Valais Value @ValaisValue]

@OniResearchLLC Much better than an equity raise. Should only impact the first sites, and the ROC should be much higher than the cost of debt. As they prove out the concept, terms should improve

[Valais Value @ValaisValue]

Have added more $LIB.V / $VLTLF

As others have pointed out, this demonstrates their ability to raise non-dilutive capital, which was in question. This also indirectly validates their technology.

I also agree that future financing rates will likely come down as the scaling risk decreases, while their ROC should already be well above the cost of debt.

[Valais Value @ValaisValue]

Didn’t he say on the last $LIB.V call that there were several scenarios and that they were pursuing both options in parallel, limiting dilution where possible? If this financing works out, I calculate that it would significantly reduce the need for further dilution. Do you see it differently?

[Valais Value @ValaisValue]

https://t.co/sX9EdtXlZI

[Valais Value @ValaisValue]

Earlier this month, an S3 report concluded that $LODE is well ahead of competitors, many of whom it says are still shipping material abroad or sending portions to landfill.

“Comstock Metals is the only industrial scale, certified and closed loop operator globally”

“Comstock did not provide any data or assistance, all research was independently handled by S3” though S3 has consulted for Comstock in the past.

Competitors, of course, strongly disagree with that assessment.

But that’s where this gets interesting. The editor gave them the opportunity to push back, and several did, yet the article also points out that they have not been willing to undergo the kind of independent audit that could settle some of these claims.

Now the burden of proof is on them.

Link below

[Valais Value @ValaisValue]

@CapstackCapital @amboteignosceme Anyways, would understand if this one is too hairy for you.

We do overlap with $SPCB, which is also a major position for me 👌

[Valais Value @ValaisValue]

@CapstackCapital @amboteignosceme PS: the current share price is heavily influenced by a few $LODE shorters (image 1), who shorted 2.1m shares on 24 July…

While other institutional ownership seems to only be increasing (image 2)

Which together tell an interesting story

[Valais Value @ValaisValue]

@CapstackCapital @amboteignosceme Have you seen the mining asset sale, and the SSOF sale? Dilution is not the modal outcome imo

[Valais Value @ValaisValue]

@quantsisco Plausible explanation. Something definitely is nonsensical about the recent FUD posts. Was also asking myself who benefits 🔎

Will continue buying, as the $LODE risk-reward only got better recently. Net institutional ownership is still increasing!

[Valais Value @ValaisValue]

@oposkiller @quantsisco @NomadCarnivore Good point. But this just changes who needs to buy right? If they have 7m calls it would be the dealers who have to buy (gamma squeeze)

[Valais Value @ValaisValue]

It does seem pretty noticeable. I think a lot of investors have picked up on the shorting pressure around $LODE, although it’s obviously hard to know exactly what’s driving every move. The good thing is that the buying pressure seems strong enough to push the price back up pretty quickly. So far, it looks like buyers may have deeper pockets, even as the number of shorted shares keeps increasing.

[Valais Value @ValaisValue]

Also agree with this $LIB.V $VLTLF take. Looking back at some of the recent calls, Alex is not marketing the upside case very well by only talking about the smaller picture ‘execution’. The MCC interview seems chaotic, repetitive and overly focused on operations

Please improve the shareholder communications and upside story telling @LibertyStreamIP

That being said, the technology is increasingly derisked, and expectations are managed well. Impressive progress on this front! May increase my small position if we get more clarity on the dilution risk, and other capitalization routes. Hoping we don’t dilute much more at this lower MC

[Valais Value @ValaisValue]

@BSMdeltas @Lil__Oaty Really?

[Valais Value @ValaisValue]

$SPCB ARR just keeps accelerating as anticipated:

“Our U.S. EM technology annualized recurring revenues has been accelerating, reflecting growth of approximately 290% from July 2025 to July 2026.”

This could be what ultimately starts giving comfort to investors, as it’s predictable with high cash conversion.

[Valais Value @ValaisValue]

$SPCB There is the US EM ARR which I want to see compounding further. In May the CEO said:

“At the same time, our U.S. electronic monitoring technology annualized recurring revenue or ARR run rate has expanded by over 180% year-over-year from May 2025, reflecting the accelerated impact of a rapid deployment and expanding customer footprint across the U.S.”

180% was annectdotal, and accelerating versus the Q1 March-to-March growth of 88% that was already reported.

[Valais Value @ValaisValue]

$SPCB There is the US EM ARR which I want to see compounding further. In May the CEO said:

“At the same time, our U.S. electronic monitoring technology annualized recurring revenue or ARR run rate has expanded by over 180% year-over-year from May 2025, reflecting the accelerated impact of a rapid deployment and expanding customer footprint across the U.S.”

180% was annectdotal, and accelerating versus the Q1 March-to-March growth of 88% that was already reported.

[Valais Value @ValaisValue]

Ah I found the $LODE quote

“It really works into our scheme very, very nicely that you can literally come out and say, "We have up to 1.2 GW and the lands to hold it." That's it. That's what we're working on. Could it be 1.5 GW? Could it be 1.8 GW? Pretty easily. Pretty easily. We're being extremely diligent.”

- Corrado Q2 Earnings

[Valais Value @ValaisValue]

@_saranbaskar @HugoNavarroPer2 $LODE guides to get to break-even in 2026 Q4, at the plant level. They have secured the panel volumes to prove this, and will start continuous production soon. So could be sooner than that, right