Corporate update. Comstock recently hosted a virtual investor meeting to discuss innovations in lithium-ion battery recycling, lithium extraction, cellulosic extraction for producing biofuels, and the restart of its mercury remediation operations in the Philippines. Management has spent the last six months accelerating plans for lithium recycling and cellulosic fuels with fully operational prototypes expected in the first and second quarters of 2022.Cellulosic fuels business will be the largest in Comstock's portfolio. The first facility in Minnesota is expected to be operational in 2023. It will convert woody biomass into ethanol, biodiesels, and marine fuels. Comstock expects to have a cellulosic extraction prototype operational at Comstock's Plain Sight Innovations (PSI) laboratory in Wisconsin in March or April. Management mentioned that several companies are interested in purchasing engineering and manufacturing services and equipment to deploy the same cellulosic extraction technology for pulp and paper which could generate revenue in 2022. Once able to demonstrate its cellulosic fuel concept, LODE management believes other companies may want to adopt the technology to meet their carbon goals.Battery recycling and lithium extraction. A prototype should be operational in January and able to crush 6 tons per day and produce high purity black mass. A lithium extraction process will be integrated with the crushing and separating system in March or April to extract lithium from black mass at the front end of the process. It will produce sample quantities of the material and display to the market a full capability through lithium extraction. Immediately following that, the crushing and separating system will be operational at LiNiCo's battery metal recycling facility in Nevada in May or June. At the Nevada facility, the lithium extraction will be added in the fourth quarter of 2022.Rating is Outperform. In our view, Comstock's transformation is well underway with the company positioning itself as a leader in the future of sustainable and eco-friendly technologies that will meet the evolving needs of the 21st century economy. Read More >>