Comstock raises $34.5M, eliminates debt, orders $5.1M equipment for solar recycling facility

Comstock Inc.

Net cash $31.7M; current assets $35.1M vs current liabilities $13.8M; all debt extinguished.
Metals billings $2.9M in 9M 2025 vs $65K; expects >$3.5M billable revenue in 2025 (8x YoY).
First industry-scale solar recycling facility in Silver Springs, NV: permits imminent, commissioning Q1 2026, capacity 100K tons/yr.
Bioleum raised $33M from strategic investors ($13M Marathon Petroleum, $20M Series A); Comstock holds $65M convertible preferred.
Common shares 51.3M as of Sep 30, 2025; oversubscribed equity raise added 30+ institutional investors.

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