---
schema_version: "secwatch.filing_event.v1"
accession: "0001120970-23-000048"
form_type: "8-K"
ticker: "LODE"
cik: "0001120970"
company_name: "Comstock Inc."
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T11:36:06.545450+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Comstock leases Northern Targets to Mackay for $1.25M upfront plus annual fees and 1.5% NSR royalty

## Summary
- Comstock subsidiary signed 20-year Mineral Lease with Mackay Precious Metals Inc. for Gold Hill and northern Occidental Lode claim groups.
- Lease initiation fee of $1.25M paid at signing; annual fees of $1.5M for first 4 years, then $1M thereafter.
- Comstock retains 1.5% net smelter return royalty on all future precious metal production from the claims.
- Mackay must reimburse ~$200k/year in carrying costs; non-compete and mutual ROFR provisions included.
- Lease automatically extends after feasibility if mining operations continue and all terms are met.

## SEC filing metadata
- accession: 0001120970-23-000048
- form_type: 8-K
- ticker: LODE
- cik: 0001120970
- company_name: Comstock Inc.
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000048/0001120970-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000048/lode-20230630.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001120970-23-000048
- JSON: https://secwatch.observer/filing/0001120970-23-000048.json
- Plain text: https://secwatch.observer/filing/0001120970-23-000048.txt

## Key facts
- Material Agreements
  Comstock Inc. entered into Mineral Lease with Mackay Precious Metals Inc. valued at $1.25 million lease initiation fee (effective 2023-06-30).
  - Action: entry
  - Agreement: lease
  - Counterparty: Mackay Precious Metals Inc.
  - Value: $1.25 million lease initiation fee
  - Effective: 2023-06-30
  source text: On June 30, 2023, Comstock Inc. and its wholly-owned subsidiary Comstock Northern Exploration, LLC (together, “Comstock”), entered into a Mineral Exploration and Mining Lease Agreement (the “Mineral Lease”) with Mackay Precious Metals Inc. (“Mackay”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000048/0001120970-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.