Comstock (NYSE:LODE) Extends Agreement with SACL Pte. Ltd.

Comstock Inc., a Nevada-based company, recently announced a modification and extension of its agreement with SACL Pte. Ltd., a Singapore-based project development and management company. The current agreement involves Comstock Fuels Corporation, a subsidiary of Comstock Inc., and SACL Pte. Ltd. intending to collaborate on renewable energy projects in Australia, New Zealand, and Vietnam.

Initially, on September 18, 2024, Comstock Fuels and SACL entered a non-binding term sheet outlining their cooperation in Australia and New Zealand projects. Later, on November 18, 2024, an amendment was made to this term sheet to include the development of a site in Vietnam. This amendment set a deadline of December 31, 2024, for the execution of all associated definitive agreements.

As of December 30, 2024, the parties have agreed to extend the timeline for finalizing the definitive documents to January 31, 2025. This extension will allow both Comstock Fuels and SACL sufficient time to conclude the necessary agreements for their collaborative projects effectively.

The term sheet between Comstock Fuels and SACL remains non-binding, except for essential economic terms, until definitive agreements are fully executed. The Company looks forward to the continued progress and successful outcomes from this collaboration.

For further details and updates on this collaboration between Comstock Inc. and SACL Pte. Ltd., investors are encouraged to stay tuned for developments as the parties work towards finalizing the definitive agreements within the extended timeline.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Comstock’s 8K filing here.

About Comstock

Comstock Inc engages in the systemic decarbonization business in Nevada and internationally. It operates through Renewable Energy, Mining, and Strategic and Other Investments segments. It will develop technology for the deploying of extraction and refining facilities that convert wasted and unused biomass and other natural resources; and a demonstration system to extract black mass containing lithium, graphite, nickel, cobalt, manganese, copper, aluminum, and other metals from up to lithium-ion batteries.