Legacy interest — not in the default listings
Comstock closed the sale of its entire gold and silver mining business to Mackay Precious Metals Inc. on 24 August 2026 -- all four mining subsidiaries, every mining claim, the processing facilities, permits and water rights. It owns no mine and no mineral deposit. Its only remaining mining exposure is a residual 1.5% net smelter return royalty over the properties it sold, which Mackay can buy out at any time for US$3.5 million, plus a US$10 million payment contingent on a future construction decision Mackay has not made. The company's actual operating business is now recycling end-of-life solar panels and other renewable-energy materials at Silver Springs, Nevada. It is kept in the database with its full research history intact, but excluded from the default miner and royalty directories, because it is no longer a mining investment and was never a royalty-acquisition business.
Comstock Inc.
Comstock Inc. (NYSE American: LODE; formerly Comstock Mining Inc.) takes its name from the historic 1859 Comstock Lode silver-gold discovery at Virginia City and Gold Hill, Nevada. The company mined its Lucerne project in the district in 2004-2006 (12,000 oz Au, 53,000 oz Ag) and again in 2012-2015 (59,515 oz Au, 735,252 oz Ag); its FY2025 Form 10-K characterizes this activity as "test mining" and states the company was throughout an exploration-stage issuer with no S-K 1300 reserves -- no ore has been mined since 2016. On 24 Aug 2026, Comstock closed the sale of its entire legacy mining business -- Comstock Mining LLC, Comstock Processing LLC, Comstock Exploration and Development LLC, and Comstock Real Estate Inc., covering the Lucerne and Dayton Consolidated (Lyon County) resource areas plus all associated mining claims, processing facilities, permits and water rights -- to Mackay Precious Metals Inc., a subsidiary of Mackay Gold & Silver Corp. (TSX-V: MACK), under a Securities Purchase Agreement signed 21 Jun 2026. Aggregate consideration exceeds $45 million: $20 million cash and 2 million Mackay Gold & Silver shares (~$4.5 million) received at closing, a secured $7 million second-tranche payment due within 18 months, a retained 1.5% NSR royalty on gold/silver/other minerals from the sold properties (Mackay may buy it out for $3.5 million, doubling to $7 million if unexercised after 7 years), and a contingent $10 million payable if Mackay makes a construction decision on the properties, or is acquired in a change-of-control transaction of at least $500 million, within 7 years of closing. Comstock now holds no operating mining assets. Its ongoing business is the Metals segment: large-scale recycling of end-of-life solar panels and other renewable-energy materials into reusable silver, gold, aluminum and other critical minerals, centered on a 100,000-sq-ft Silver Springs, Nevada facility (Lyon County Conditional Use Permit granted 24 Jun 2024; lease signed 15 Jul 2024) that came online in August 2026 under an OEM Material Recycling Services Agreement with Illuminate USA LLC, an Ohio-based solar-panel manufacturer, executed in Q2 2026. Q2 2026 balance sheet (pre-closing): $31.4m cash and zero debt; $58.1m current assets vs $18.2m current liabilities ($39.9m working capital); total liabilities $52.9m -- these figures predate the 24 Aug 2026 mining-asset sale closing and will change once post-closing financials are reported. Executive Chairman and CEO is Corrado De Gasperis.
Construction Milestones
2 of 5 reached- Jun 2024 · Comstock Metals received unanimous approval for a Conditional Use Permit (CUP) from the Lyon County, Nevada Board of County Commissioners for operations and material storage of solar panels at its planned industrial-scale recycling facility in Silver Springs, Nevada. [Task #537g, 2026-08-22 -- NON-MINING ROW, DO NOT USE AS MINING-STAGE EVIDENCE] This milestone belongs to Comstock's METALS segment (solar-panel / electronics recycling), which the company reports as a reportable segment SEPARATE from its Mining segment. It is not a mine and not a mine-construction event. These rows were previously the sole support for a stage=CONSTRUCTION claim on this Miner, which the FY2025 10-K refutes directly ("we are an exploration stage issuer, and our Comstock properties are all exploration stage properties"); stage was corrected to RESOURCE_DEFINITION on 2026-08-22. The row is retained rather than deleted (fix forward, never destroy) -- but it must not be read as mining evidence. See MetricSource(stage) on this Miner and scripts/correct-lode-stage-task537g.ts. · Source
- Jul 2024 · Comstock Metals announced it secured a long-term lease on the 100,000-square-foot Silver Springs, Nevada facility and would deploy it for processing up to 100,000 tons/year of end-of-life solar panels -- the company's real decision/site-commitment event to proceed, following the June 24, 2024 conditional use permit. [Task #537g, 2026-08-22 -- NON-MINING ROW, DO NOT USE AS MINING-STAGE EVIDENCE] This milestone belongs to Comstock's METALS segment (solar-panel / electronics recycling), which the company reports as a reportable segment SEPARATE from its Mining segment. It is not a mine and not a mine-construction event. These rows were previously the sole support for a stage=CONSTRUCTION claim on this Miner, which the FY2025 10-K refutes directly ("we are an exploration stage issuer, and our Comstock properties are all exploration stage properties"); stage was corrected to RESOURCE_DEFINITION on 2026-08-22. The row is retained rather than deleted (fix forward, never destroy) -- but it must not be read as mining evidence. See MetricSource(stage) on this Miner and scripts/correct-lode-stage-task537g.ts. · Source
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Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Your Rankings
Comstock Inc. does not operate mines, so it has no technical study of its own. What it holds instead is a book of royalty and stream interests in other companies' assets -- the portfolio below. Only figures the company has actually disclosed are shown; nothing here is estimated.
| Asset | Commodity | Interest | Rate / price | Stage |
|---|---|---|---|---|
Comstock Lode District properties (Dayton Consolidated and Lucerne resource areas), Storey and Lyon Counties, Nevada Mackay Precious Metals Inc. (subsidiary of Mackay Gold & Silver Corp., TSXV: MACK) · United States Retained 1.5% net smelter return royalty on sales of silver, gold and all other valuable minerals and products extracted from the properties Comstock sold to Mackay Precious Metals Inc. on 24 Aug 2026 (all four mining subsidiaries: Comstock Mining LLC, Comstock Processing LLC, Comstock Exploration and Development LLC, Comstock Real Estate Inc., covering all patented and unpatented mining claims, town lots, processing facilities, operating permits and water rights). Governed by a Royalty Agreement executed at closing. BUY-OUT: Mackay may buy the royalty out at any time for US$3.5 million in cash; if the separate US$10 million contingent payment is not triggered, the buy-out value doubles to US$7 million after seven years. CONTINGENT PAYMENT (a separate right, not part of this royalty): US$10 million payable if, within seven years of closing, Mackay makes a decision to proceed with construction of a mine on any of the properties, or is sold/merged/party to a change-of-control transaction with aggregate consideration of at least US$500 million. NOT PRODUCING AND GENERATING NO REVENUE: the FY2025 Form 10-K states Comstock "[has] not established reserves that meet the requirements of S-K 1300 and therefore ... [is] an exploration stage issuer, and our Comstock properties are all exploration stage properties"; Dayton Consolidated is "undeveloped, with no permanent infrastructure" with "Mineral Reserves ... not estimated"; Lucerne's 2004-2006 and 2012-2015 output is characterised as "test mining" and nothing has been mined since 2016. STAGE = RESOURCE_DEFINITION, set from the most advanced property this royalty covers: Dayton carries one published, citable third-party S-K 1300 Technical Report Summary (Behre Dolbear & Company (USA), Inc., 30 Nov 2022, Exhibit 96 to the FY2022 Form 10-K) reporting a Measured+Indicated gold resource of 293,000 contained oz (plus 90,000 oz Inferred reported separately) and 2,120 koz Ag M&I co-product, with no reserves and no completed economic study. Lucerne carries no current S-K 1300 resource at all. Those ounces belong to the DEPOSIT and are recorded here on the interest row rather than on Miner.ouncesFound, which was cleared to null in this same pass because Comstock owns no ore body (see MetricSource and MetricStatus for ouncesFound on this miner). Created by Task #559 as the required companion to the businessModel OPERATOR -> ROYALTY_STREAMING correction: without it the detail page's Royalty & Streaming Portfolio panel, which that correction switches on, would render empty. Sources: closing press release (Exhibit 99.1 to Form 8-K accession 0001437749-26-028777, Item 8.01, filed 2026-08-24), https://www.sec.gov/Archives/edgar/data/1120970/000143774926028777/ex_1008239.htm ; closing Form 8-K, https://www.sec.gov/Archives/edgar/data/1120970/000143774926028777/lode20260818_8k.htm ; independently corroborated at https://www.globenewswire.com/news-release/2026/08/24/3349568/0/en/comstock-receives-20-million-and-closes-sale-of-legacy-mining-assets-to-mackay-precious-metals-inc.html . Background filings: FY2025 Form 10-K https://www.sec.gov/Archives/edgar/data/1120970/000143774926009589/lode20251231_10k.htm ; Q2 2026 Form 10-Q https://www.sec.gov/Archives/edgar/data/1120970/000143774926024304/lode20260630_10q.htm ; SPA-signing Form 8-K https://www.sec.gov/Archives/edgar/data/1120970/000143774926021491/lode20260623_8k.htm . Full reasoning: scripts/fix-task559-lode-post-divestiture.ts. | Gold | Royalty NSR | 1.5% | Resource Definition |
Management Team
Executive Chairman and CEO of Comstock Inc.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Hood River Capital Management, an active institutional investor, holds a meaningful stake, though it is a generalist small-cap manager rather than a resource specialist. Vanguard Group separately discloses a real 5.93% stake -- passive index exposure, not a discretionary pick. Five insiders -- including the CEO and a director whose purchases totaled nearly $16 million -- bought stock on the open market repeatedly through the trailing year with no selling on record.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
No reports or presentations linked yet.