Breaking News: Comstock Strikes Gold with Sale of Northern Mining Targets to Mackay Precious Metals Inc.

VIRGINIA CITY, Nev., Dec. 20, 2024 (GLOBE NEWSWIRE) —

Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced it has executed a Membership Interest Purchase Agreement (the “MIPA”) to sell 100% of the northernmost patented and unpatented mining claims, mineral exploration rights and town lots (the “Northern Targets”) currently owned by Comstock’s wholly-owned subsidiary Comstock Northern Exploration, LLC., plus all of the 25% issued and outstanding membership interest that Comstock owns in Pelen LLC (“Pelen”) to Mackay Precious Metals Inc. (“Mackay”) for an aggregate purchase price of $2.75 million (the “Purchase Price”) and a 1.5% NSR production royalty from the sales of silver, gold, and all other valuable minerals and products extracted from these properties, in perpetuity.

Impact on You

This sale could potentially affect individuals who have invested in Comstock Inc. (NYSE: LODE) or have an interest in the mining industry. If you are a shareholder of Comstock, this news may impact your investment portfolio. It is important to keep track of such developments to make informed decisions about your financial assets.

Global Impact

The sale of the Northern Mining Targets to Mackay Precious Metals Inc. may have broader implications for the global mining industry and the market for precious metals. It could lead to changes in the dynamics of mining operations, as well as influence the prices of silver, gold, and other valuable minerals worldwide.

Conclusion

In conclusion, the sale of the Northern Mining Targets by Comstock to Mackay Precious Metals Inc. marks a significant development in the mining sector. It will be interesting to see how this transaction plays out and what impact it will have on the stakeholders involved, both at an individual level and on a global scale.