Tillkännagivande • Sep 15

Tonogold Resources, Inc. (OTCPK:TNGL) completed the acquisition of Comstock Mining LLC from Comstock Mining Inc. (AMEX:LODE) for $24.4 million.

Tonogold Resources, Inc. (OTCPK:TNGL) entered into a definitive agreement to acquire Comstock Mining LLC from Comstock Mining Inc. (AMEX:LODE) for $24.5 million on January 24, 2019. Tonogold Resources, Inc. paid a non-refundable deposit of $1 million on January 23, 2019 as a part of the consideration. Under the terms of the agreement, for the remaining $14 million, Tonogold Resources will either pay $9 million in cash at completion and $5 million in cash twelve months from completion or $10.5 million in cash plus $1.75 million in Tonogold shares at completion and $1.8 million in cash or, at Tonogold's election, Tonogold shares 12-months from completion. Under the first alternative, Comstock will be granted security in respect of the $5 million deferred payment while in the second alternative, Comstock will not have any security interest. In addition, Comstock will be granted a Net Smelter Return Royalty of 1.5% over future production from Lucerne. Upon completion of this transaction, Comstock Mining Inc. will also enter into a ten-year Mineral Lease for additional mineral properties in Storey County, Nevada, granting Tonogold the right to explore, develop and mine these properties. As of April 30, 2019, the agreement was amended and as per amended terms, Comstock Mining Inc. anticipates, Tonogold to deliver $11.5 million in cash at closing, less the amount of the cumulative non- refundable payments, and deliver a one- year maturing, interest (12%) bearing convertible note to Comstock with a principal amount of $3.5 million and $8.0 million in assumed liabilities, plus future royalties. The conversion price will be the lowest of (I) the 20- day volume weighted closing price of Tonogold shares prior to conversion, (II) Tonogold’s most recent private placement or (III) Tonogold’s initial public offering price. As of May 22, 2019, the agreement was amended and pursuant to the amendment Tonogold agreed to deliver 3,920 shares of Series D convertible preferred stock, include 3,500 shares of Series D convertible preferred stock and total committed fee of 420 shares of Series D convertible preferred Stock, with a stated value of $1,000 per share on a non-refundable basis, as an additional deposit toward acquisition of Comstock Mining LLC. Closing payment will be adjusted only with respect to the cash deposits. As of June 21, 2019, Comstock entered into a Third Purchase Agreement Amendment that provides Tonogold to deliver $11.5 million in cash at closing, less the total amounts of the cumulative non-refundable cash payments made by Tonogold at that time, now totaling $2.9 million. Tonogold can pay an additional non-refundable cash deposit of $400,000 applicable to the closing price or $400,000 in stock that is not applicable to the closing price. And pursuant to the amended agreement Tonogold was permitted to delay closing to as late as July 26, 2019, by delivering one of the following forms of consideration by June 28, 2019, (I) a non-refundable cash deposit of $1 million applicable to the total purchase price of $15 million, or(II) a non-refundable deposit of $0.75 million in cash applicable to the Purchase Price, plus an extension fee in shares of Series E Convertible Junior Participating Non-Cumulative Perpetual Preferred Stock of Tonogold with a stated value of $0.25 million that is not applicable to the Purchase Price, or (III) a non-refundable deposit of $0.5 million in cash, plus an extension fee of Shares with a stated value of $0.5 million that is not applicable to the Purchase Price. Pursuant to Amendment, Tonogold delivered a non-refundable cash deposit of $0.6 million on June 24, 2019. If the closing is delayed upto August 30, 2019, Tonogold should deliver one of the following forms of consideration by July 26, 2019: (a) a non-refundable deposit of $1 million in cash, applicable to the Purchase Price or (b) delivering a non-refundable deposit of $0.5 million in cash, applicable to the Purchase Price, plus an extension fee in Shares with a stated value of $0.5 million that is not applicable to the Purchase Price. The completion of the transaction is subject to Tonogold formally securing the funding required for the transaction and completion of limited legal due diligence. The transaction is expected to complete on March 31, 2019 which can be further extended to April 30, 2019 by Tonogold by paying further $1 million in cash and to May 31, 2019 by paying an additional amount of $1 million in cash at completion. As of March 19, 2019, the transaction is expected to be closed in the next two months. As of April 26, 2019, the transaction is expected to close on May 31, 2019. As on October 15, 2019 the deal is expected to close on October 31, 2019. As per the amendment of April 30, 2019, Comstock Mining Inc. agreed to provide Tonogold with the flexibility of up to two additional, one- month extensions, each requiring additional $1 million non- refundable deposits, to close on the acquisition. The amendment permits the closing to occur up until August 30, 2019. If the closing occurs after the original deadline of May 31, 2019, Tonogold will also be required to reimburse Comstock Mining Inc. for all incremental interest costs and certain additional property carrying costs. As of May 6, 2019, Comstock has received $2.4 million in cash as non- refundable payments including $0.35 million recently, toward the aggregate purchase price, with an additional $0.45 million and $0.2 million due on or prior to May 17, and May 24, 2019, respectively. As of August 14, 2019, The extension brings total cash deposits through August to $4.2 million, all toward the agreed purchase price. Comstock Mining Inc. has also received $3.5 million in convertible preferred stock (“CPS”), for total pre-close payments of $7.725 million. Comstock Mining Inc. and Tonogold have also amended the purchase agreement, effective August 15, 2019, allowing Tonogold to close by August 30, 2019, with a majority membership interest of at least 50.3% in Comstock Mining LLC, and an additional cash payment at closing of at least $3.3 million, bringing the total cash payments for closing to $7.5 million. The remaining $4 million will be held as a secured obligation with scheduled monthly payments of not less than $500 thousand each, between November 2019, and May 2020. Once the final payment is made, Tonogold will then own 100% of the membership interests Comstock Mining LLC, owner of Lucerne. As on October 15, 2019 Tonogold has agreed to an additional non-refundable cash deposit of $300 thousand and provided for an additional, non-refundable stock-based fee totaling $250 thousand. With this extension, Tonogold will have paid non-refundable cash deposits totaling $4.2 million plus $5 million in non-refundable Convertible Preferred Stock ("CPS"). Under the agreement, Comstock will sell the membership interest in Comstock Mining LLC to Tonogold for $15 million plus the assumption of certain liabilities and a retained 1.5% NSR royalty on Lucerne. The amended purchase agreement allows Tonogold to close by October 31, 2019, with an additional cash payment due at closing of $3.6 million, less any additional cash deposits. This results in total cash payments at closing of $7.5 million for a 50.3% ownership interest in Comstock Mining LLC. The remaining cash purchase price of $3.9 million will be deferred with monthly scheduled payments of at least $650 thousand, between January 2020 and June 2020. Once the final payment is made, Tonogold would then own 100% of Comstock Mining LLC, the owner of Lucerne assets and its mining permits. Under this extension, Tonogold also has the right to pay an additional $1 million in non-refundable cash deposits and $500 thousand in an additional stock fee, if needed, for a final extension to November 10, 2019. Tonogold Resources, Inc. (OTCPK:TNGL) completed the acquisition of Comstock Mining LLC from Comstock Mining Inc. (AMEX:LODE) for $24.4 million on September 14, 2020. The consideration includes $7.1 million in cash, $6.1 million in Convertible Preferred Stock (“CPS”), and a $4.475 million, 12% notes receivable, due and payable on September 20, 2021, plus the assumption of $6.7 million in future lease and reclamation obligations, that together represent a permanent reduction of annual operating expenses of approximately $1 million. The CPS had an initial recorded fair value of $7.6 million (and a higher fair value of $10.4 million at June 30, 2020). Comstock retained a 1.5% net smelter return (NSR) royalty on Lucerne and will recognize a tax-free gain on the sale of approximately $18 million, with substantially all of the gain expected in the third quarter.

VD-lön i procent	88.53%
Anställning som VD	16.2yrs
Ägande av VD	0.2%
Ledningens genomsnittliga anställningstid	5.5yrs
Styrelsens genomsnittliga mandatperiod	6.1yrs

Datum	Total ersättning	Lön	Företagets resultat
Mar 31 2026	n/a	n/a	-US$43m
Dec 31 2025	US$559k	US$495k	-US$43m
Sep 30 2025	n/a	n/a	-US$53m
Jun 30 2025	n/a	n/a	-US$55m
Mar 31 2025	n/a	n/a	-US$56m
Dec 31 2024	US$502k	US$495k	-US$53m
Sep 30 2024	n/a	n/a	-US$23m
Jun 30 2024	n/a	n/a	US$5m
Mar 31 2024	n/a	n/a	US$8m
Dec 31 2023	US$551k	US$495k	US$9m
Sep 30 2023	n/a	n/a	-US$19m
Jun 30 2023	n/a	n/a	-US$37m
Mar 31 2023	n/a	n/a	-US$45m
Dec 31 2022	US$503k	US$468k	-US$46m
Sep 30 2022	n/a	n/a	-US$42m
Jun 30 2022	n/a	n/a	-US$47m
Mar 31 2022	n/a	n/a	-US$39m
Dec 31 2021	US$680k	US$318k	-US$25m
Sep 30 2021	n/a	n/a	-US$11m
Jun 30 2021	n/a	n/a	US$16m
Mar 31 2021	n/a	n/a	US$23m
Dec 31 2020	US$434k	US$288k	US$15m
Sep 30 2020	n/a	n/a	US$18m
Jun 30 2020	n/a	n/a	US$1m
Mar 31 2020	n/a	n/a	-US$2m
Dec 31 2019	US$372k	US$288k	-US$4m

Namn	Position	Anställning	Kompensation	Ägarskap
Corrado De Gasperis	CEO & Director	16.2yrs	US$559.12k	0.24% € 583.1k
Judd Merrill	President of Comstock Mining & CFO	1.1yrs	US$430.47k	0.0056% € 13.5k
William McCarthy	Chief Operating Officer	4.9yrs	US$502.00k	inga uppgifter
Matthew Bieberly	Chief Accounting Officer	2.6yrs	inga uppgifter	inga uppgifter
Laurence Martin	Director of Exploration & Mineral Development and Chief Geologist	18.4yrs	US$163.63k	inga uppgifter
Zach Spencer	Director of External Relations	6.2yrs	inga uppgifter	inga uppgifter
Fortunato Villamagna	President of Comstock Metals	no data	inga uppgifter	inga uppgifter

Namn	Position	Anställning	Kompensation	Ägarskap
Corrado De Gasperis	CEO & Director	15yrs	US$559.12k	0.24% € 583.1k
Donald A. Colvin	Independent Director	less than a year	inga uppgifter	0.011% € 25.7k
William Nance	Lead Independent Director	20.7yrs	US$225.00k	0.16% € 390.9k
Walter Marting	Independent Non-Executive Chairman	8.2yrs	US$180.00k	0.16% € 388.6k
Pei Steven	Independent Director	less than a year	inga uppgifter	inga uppgifter
Leo Drozdoff	Independent Director	8.3yrs	US$200.00k	0.25% € 621.5k
Robert Spence	Independent Director	less than a year	inga uppgifter	0.043% € 104.1k
Kristin Slanina	Independent Director	4.1yrs	US$205.00k	0.15% € 356.6k

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/06/11 20:50
Aktiekurs vid dagens slut	2026/06/11 00:00
Intäkter	2026/03/31
Årlig intjäning	2025/12/31

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Analytiker	Institution
Michael Legg	Ladenburg Thalmann & Company
Mark La Reichman	NOBLE Capital Markets, Inc.
Brian Post	Roth Capital Partners

Comstock Förvaltning

Förvaltning kriterier kontrolleras 3/4

Viktig information

Senaste uppdateringar av ledningen

Independent Director recently bought €83k worth of stock

Comstock Inc., Annual General Meeting, May 28, 2026

Comstock Inc. Announces Board and Committee Changes, Effective March 24, 2026

Comstock Inc. Appoints Judd B. Merrill as Chief Financial Officer, Effective May 19, 2025

Comstock Inc., Annual General Meeting, May 22, 2025

Comstock Inc., Annual General Meeting, May 30, 2024

Recent updates

Independent Director recently bought €83k worth of stock

Comstock Inc., Annual General Meeting, May 28, 2026

Comstock Inc. Announces Board and Committee Changes, Effective March 24, 2026

Comstock Metals Receives DTSC Recycling Approval for California Facility; Strengthening National Recycling Network and Major Market Reach

Comstock Inc. has completed a Follow-on Equity Offering in the amount of $50.000002 million.

Comstock Metals Receives Final Air Quality Permit for Its First-Of-A-Kind, Industrial Scale Solar Panel Processing Facility

Comstock Inc. has filed a Follow-on Equity Offering in the amount of $100 million.

Comstock Inc. has filed a Follow-on Equity Offering in the amount of $100 million.

Comstock Mining Inc. (NYSEAM:LODE) completed the acquisition of 190 industrial acres in Lyon County, Nevada from Decommissioning Services LLC.

Comstock Inc. has completed a Follow-on Equity Offering in the amount of $30.000002 million.

Comstock Inc. has filed a Follow-on Equity Offering.

Comstock Inc. announced that it has received $10.75 million in funding

Comstock Inc. Appoints Judd B. Merrill as Chief Financial Officer, Effective May 19, 2025

Comstock Inc. announced that it has received $1.5 million in funding

Comstock Inc. announced that it has received $4.66305 million in funding

Comstock Inc., Annual General Meeting, May 22, 2025

Mackay Precious Metals Inc. entered into an agreement to acquire 25% stake in Pelen, LLC from Comstock Inc. (NYSEAM:LODE)

Comstock Inc. announced that it expects to receive $2.5 million in funding from Leviston Resources LLC

Comstock Inc. (NYSEAM:LODE) completed the acquisition of remaining 50% majority stake in Quantum Generative Materials LLC.

Third quarter 2024 earnings released: US$0.08 loss per share (vs US$0.11 profit in 3Q 2023)

Comstock Inc. (NYSEAM:LODE) agreed to acquire remaining majority stake in Quantum Generative Materials LLC.

Comstock Inc. announced that it expects to receive $5 million in funding from Kips Bay Select LP

New major risk - Shareholder dilution

Second quarter 2024 earnings released: US$0.06 loss per share (vs US$0.054 loss in 2Q 2023)

Comstock Inc. announced that it expects to receive $325 million in funding

Comstock Inc. announced a financing transaction

First quarter 2024 earnings released: US$0.059 loss per share (vs US$0.06 loss in 1Q 2023)

Comstock Inc. announced a financing transaction

Comstock Inc., Annual General Meeting, May 30, 2024

Comstock Inc. has filed a Follow-on Equity Offering in the amount of $5 million.

Full year 2023 earnings released: EPS: US$0.087 (vs US$0.62 loss in FY 2022)

Comstock Inc. Receives Air Quality Permit from the State of Nevada

Comstock Inc.(NYSEAM:LODE) acquired remaining 10% stake in LINICO Corporation from Aqua Metals, Inc. (NasdaqCM:AQMS) for 0.6 millions.

Comstock Inc. announced that it has received $5.513157 million in funding

Comstock Inc. announced that it has received $2 million in funding

New major risk - Shareholder dilution

Third quarter 2023 earnings released: EPS: US$0.11 (vs US$0.067 loss in 3Q 2022)

Second quarter 2023 earnings released: US$0.054 loss per share (vs US$0.20 loss in 2Q 2022)

First quarter 2023 earnings released: US$0.06 loss per share (vs US$0.095 loss in 1Q 2022)

Full year 2022 earnings released: US$0.62 loss per share (vs US$0.49 loss in FY 2021)

Comstock Inc. Announces Comstock Technology Produces Circular Renewable Fuels

Comstock Inc. Announces Dayton Mineral Resource Report Significantly Expands Gold and Silver Resources

Third quarter 2022 earnings released: US$0.067 loss per share (vs US$0.17 loss in 3Q 2021)

Comstock Inc. announced that it has received $0.375 million in funding

Comstock Inc.'s Cellulosic Ethanol Technology Ready for Commercial Deployment

An unknown buyer acquired Daney Ranch property located near Dayton, Nevada from Comstock Inc. (NYSEAM:LODE) for $2.7 million.

Second quarter 2022 earnings released: US$0.20 loss per share (vs US$0.15 loss in 2Q 2021)

Comstock Inc. Announces Significant Expansion of Its Cellulosic Technology Portfolio by Filing for A New Patent

Comstock Inc. announced that it expects to receive $2 million in funding from Tysadco Partners, LLC

Comstock Mining Inc. Approves the Appointment Kristin M. Slanina as Director At the Annual General Meeting Held on May 26, 2022

First quarter 2022 earnings released: US$0.095 loss per share (vs US$0.22 profit in 1Q 2021)

Full year 2021 earnings released: US$0.49 loss per share (vs US$0.49 profit in FY 2020)

Comstock Mining Inc. (NYSEAM:LODE) acquired an additional 45% stake in LINICO Corporation from Michael Vogel for $4.5 million.

Independent Director recently bought €54k worth of stock

Independent Director recently bought €54k worth of stock

Third quarter 2021 earnings released: US$0.17 loss per share (vs US$0.54 profit in 3Q 2020)

Comstock Mining Inc Commences Production at Mercury and Gold Extraction Facility

Investor sentiment deteriorated over the past week

Comstock Mining Inc. (NYSEAM:LODE) acquired Plain Sight Innovations LLC from Triple Point Asset Management LLC and Global Catalytic Disruptor Fund LLC for $26 million.

Investor sentiment deteriorated over the past week

Second quarter 2021 earnings released: US$0.15 loss per share (vs US$0.045 profit in 2Q 2020)

Comstock Mining Inc. (NYSEAM:LODE) acquired Renewable Process Solutions, Inc.

Comstock Mining Inc. has completed a Follow-on Equity Offering in the amount of $16 million.

Comstock Mining Inc. to Report Q3, 2020 Results on Nov 17, 2020

Comstock Mining Launches Geophysical Surveys of the Southern Comstock District Dayton Resource Area and Spring Valley Exploration Targets

Comstock Mining Inc. Announces Resignation of John Clark Gillam from the Board of Directors

Tonogold Resources, Inc. (OTCPK:TNGL) completed the acquisition of Comstock Mining LLC from Comstock Mining Inc. (AMEX:LODE) for $24.4 million.

Comstock Mining Inc. announced that it expects to receive $4.475 million in funding

Comstock Mining Inc. (AMEX:LODE) completed the acquisition of 25% stake in Sutro Tunnel Company for $0.6 million.