The divestiture provides non-dilutive capital and cost savings, supporting Comstock's pivot to renewable metals. Monitor for closing of the transaction and any updates on the contingent payment or royalty buyout. The retained equity in Mackay and NSR royalty offer upside exposure to the mining district's exploration success.
Price Chart
Executive Summary
Comstock Inc. announced the sale of 100% of its mining and mineral assets to Mackay Precious Metals Inc. for over $45 million in total consideration, including $20M cash at closing, $7M deferred cash, 2M shares of Mackay Gold & Silver, a 1.5% NSR royalty, and a contingent $10M payment. The divestiture is expected to generate over $1.5M in annualized cost savings and provides non-dilutive capital to fund Comstock's transition to a renewable metals and materials company.
Key Financial Metrics
Key Facts
- Total transaction value exceeds $45 million, consisting of over $30 million in cash and stock payments, a 1.5% NSR royalty, assumption of reclamation liabilities, and a contingent $10 million payment.
- Comstock will receive $20 million in cash at closing plus 2 million shares of Mackay Gold & Silver (TSXV: MACK) valued at over $3.5 million.
- A secured second-tranche cash payment of $7 million is due within 18 months, with up to $2 million payable in Mackay shares at Mackay's option.
- Comstock expects over $1.5 million in annualized cost savings from reduced mining asset maintenance and compliance obligations.
- The contingent $10 million payment triggers if Mackay decides to construct a mine or undergoes a change-of-control transaction with consideration of at least $500 million within seven years.
Financial Impact
Total transaction value over $45M including $20M cash at closing, $7M deferred cash, 2M shares of Mackay Gold & Silver valued at over $3.5M, 1.5% NSR royalty, and contingent $10M payment. Annualized cost savings over $1.5M.
Risk Factors
- Transaction may not close if conditions precedent are not satisfied.
- Mackay's stock price volatility could reduce the value of the share consideration.
- The contingent $10 million payment is uncertain and depends on future mine construction or a change-of-control event.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3315121 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | SC 13D/A | $1.75 $1.69 | ▲ +3.43% | ▲ +3.28% | $1.69 (+3.43%) |
Sep 24, 2026 4w ago | Press Release | $2.56 $2.25 | ▼ −12.11% | ▼ −11.69% | $1.69 (−33.98%) |
Sep 22, 2026 4w ago | Institutional Cluster | $2.76 $2.35 | ▼ −14.86% | ▼ −13.67% | $1.69 (−38.77%) |
Sep 16, 2026 5w ago | SC 13D/A | $2.63 $2.56 | ▲ +2.66% | ▲ +3.26% | $1.69 (+35.74%) |
Jul 23, 2026 13w ago | Press Release | $3.00 $2.79 | ▼ −7.00% | ▼ −7.37% | $1.69 (−43.67%) |
Jul 4, 2026 16w ago | Institutional Cluster | $4.08 $4.34 | ▲ +6.37% | ▲ +5.88% | $1.69 (−58.58%) |
Jun 24, 2026 17w ago | Press Release | $4.11 $3.99 | ▼ −2.92% | ▼ −4.63% | $1.69 (−58.88%) |
Jun 24, 2026 17w ago | 8-K | $4.11 $3.99 | ▼ −2.92% | ▼ −4.63% | $1.69 (−58.88%) |
Jun 22, 2026 18w ago | Press Release | $4.48 $4.34 | ▼ −3.13% | ▼ −1.06% | $1.69 (−62.28%) |
Jun 17, 2026 18w ago | 8-K | $4.77 $3.98 | ▼ −16.56% | ▼ −14.90% | $1.69 (−64.57%) |
US Market Status
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