Mackay Gold & Silver completes acquisition of Comstock Nevada mining assets for US$20 million, 2,000,000 shares

Reuters2026/08/24 12:12

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Mackay Gold & Silver completed the acquisition of Comstock’s Nevada mining assets in Storey County and Lyon County, known as the Silver City Lode Properties.
Transaction expands total land holdings by 70% to 4,343 hectares, creating the largest single claim package in Comstock District history.
Consideration included USD 20 million cash at closing, with a further USD 7 million due by Dec. 21, 2027.
Deal includes assignment of about USD 4 million of cash collateral tied to reclamation surety bonds for the American Flats facility and Lucerne Mine.
Comstock keeps an NSR royalty on the properties, generally set at 1.5% less existing royalties, with a USD 3.5 million buyback option.

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. Mackay Gold & Silver Corp. published the original content used to generate this news brief via Newsfile (Ref. ID: 202608240812NEWSFILECNPR____20260824_310972_1) 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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Mackay Gold & Silver completes acquisition of Comstock Nevada mining assets for US$20 million, 2,000,000 shares

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