Comstock Receives $20M Cash And 2M Mackay Gold & Silver Shares Currently Valued At ~$4.5M For Sale Of Mineral And Processing Assets To Mackay; Expects To Record A Gain Of ~$10M-$12M
Comstock Inc. (NYSE:LODE) ("Comstock," "our" and the "Company") today announced it has closed the previously announced transaction under which Mackay Precious Metals Inc. ("Mackay"), a
Comstock sold some of its mining equipment and land to another company and got $20 million in cash plus stock worth about $4.5 million back. The company expects to make a profit of about $10–12 million from this sale, which is like selling something you own for more than you paid for it.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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