Comstock closes sale of legacy mining assets to Mackay Precious Metals, receives $20 million cash

Reuters2026/08/24 10:15

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Comstock Mining closed the sale of its legacy mining assets to Mackay Precious Metals in a deal valued above USD 45 million.
Received USD 20 million cash, 2,000,000 Mackay Gold & Silver common shares valued about USD 4.5 million; expects a USD 10 million–USD 12 million gain.
Secured second-tranche payment of USD 7 million due within 18 months.
Retained a 1.5% NSR royalty; Mackay can buy it out for USD 3.5 million, rising to USD 7 million after seven years.
Deal cuts ongoing costs, with about USD 1.5 million in estimated annual operating savings; includes up to USD 10 million contingent payment tied to mine build or change of control.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Comstock Mining Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608240615PRIMZONEFULLFEED9814553) on August 24, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Comstock closes sale of legacy mining assets to Mackay Precious Metals, receives $20 million cash

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