Successful Equity Raise
Comstock completed an oversubscribed equity raise generating $34.5 million in gross proceeds and netting $31.8 million, expanding their institutional shareholder base by over 30 new investors.
Debt Elimination
Comstock eliminated all debt, including $8.5 million from the previous year, strengthening their financial position significantly.
Advancements in Solar Recycling
The company advanced their solar recycling business with a $5.1 million investment in equipment for their Nevada facility, designed to process 100,000 tons per year.
Strategic Permitting Progress
Received notice from Nevada Department of Environmental Protection with a specific timeline for finalizing permits by Christmas, aligning with equipment arrival and commissioning plans.
Strong Cash Position
Ended the quarter with $31.7 million in cash and equivalents, with $12.4 million at Bioleum and net current assets of $21.3 million.