Comstock Inc (LODE)

[saildone]

Here it is mid-September and we should be hearing from Tonogold Resources Inc. soon.
"To date, Tonogold has paid Comstock $6.9 million toward the total $15 million consideration by way of $3.4 million in cash plus $3.5 million in redeemable preference shares and will be making a further payment of $0.8 million prior to August 19th 2019, leaving $7.3 million due. Under the new agreement, Comstock has agreed to defer $4 million of the remaining consideration leaving $3.3 million due to be paid at Closing.

Closing is scheduled to occur on or prior to August 30th, 2019 but under the New Agreement Tonogold has the right to extend this date by one month to September 30th 2019 by issuing Comstock with $250,000 in redeemable preference shares.

The $4 million deferred element is interest free and is payable over 7-months (commencing in November 2019). Tonogold can accelerate the deferred consideration payments at any time without penalty or cost.

The new agreement eliminates the requirement for Tonogold to arrange any third-party debt (as previously contemplated), resulting in significant and real savings to Tonogold."
They exercised the extension to Sept 30. Will they be seeking another extension or going all in? Considering how much they have invested so far, I don't see them pulling out.
Currently LODE is focused on Itronics new KleenRock process and has moved Tim Smith over to concentrate on the realty side of the business.
They have already locked in on developing the MCU business.
And they are planning the Dayton project.
The only thing there isn't any fairly recent information on is the Cycladex development where they are a ten percent partner.