M&A
confidence high
sentiment positive
materiality 0.80
Comstock closes $45M sale of mining assets to Mackay; receives $20M cash
Comstock Inc.
- Total transaction value >$45M; Comstock received $20M cash plus 2M Mackay shares worth ~$4.5M.
- Expects to record gain of $10-12M with no cash taxes; secured $7M second-tranche payment due within 18 months.
- Sold all four mining subsidiaries (mining claims, processing assets, permits, water rights); retains 1.5% NSR royalty ($3.5M buyout option).
- Potential $10M contingent payment if mine construction decision or change-of-control ≥$500M within 7 years.
- Estimated $1.5M annual operational savings from reduced payroll, permitting, and compliance costs.