Northwire Canada EditionMonday, August 24, 2026
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GOLD 4680.60 +2.4% SILVER 69.53 +2.1% COPPER 6.59 +1.8% OIL 87.06 +0.3% PALLADIUM 1350.20 +0.9% FFU 0.115 +4.5% MERG 0.880 +4.8% FYL 0.090 −5.3% FAN 0.570 +1.8% RCK 0.720 +2.9% SGML 16.03 +8.1% BKM 2.80 +0.0% CGNT 1.25 +2.5% TTS 2.10 −17.6% SVRS 0.500 +0.0% FMM 0.050 +0.0% GSPR 0.105 −4.5% MKO 14.50 +0.2% EVER 0.510 −1.9% HSTR 2.32 +0.0% THM 1.20 −0.8% GOLD 4680.60 +2.4% SILVER 69.53 +2.1% COPPER 6.59 +1.8% OIL 87.06 +0.3% PALLADIUM 1350.20 +0.9% FFU 0.115 +4.5% MERG 0.880 +4.8% FYL 0.090 −5.3% FAN 0.570 +1.8% RCK 0.720 +2.9% SGML 16.03 +8.1% BKM 2.80 +0.0% CGNT 1.25 +2.5% TTS 2.10 −17.6% SVRS 0.500 +0.0% FMM 0.050 +0.0% GSPR 0.105 −4.5% MKO 14.50 +0.2% EVER 0.510 −1.9% HSTR 2.32 +0.0% THM 1.20 −0.8%
Production / Operations Routine +

Mackay Gold & Silver Announces Listing on the OTCQB Under the Symbol "MKGSF"

Mackay Gold Lists on OTCQB, Confirms $62M Cash and 20km Drill Program at Comstock

By The Northwire Desk — AI Analysis May 22, 2026 · 08:01 MACK · 2.58 Mackay Gold & Silver Corp.
Executive Summary
  • Mackay Gold & Silver Corp. has commenced trading on the OTCQB Venture Market under the symbol "MKGSF" effective May 22, 2026.
  • The company announced an inaugural 20,000-metre drill program at the Occidental Lode in the Comstock District starting mid-June 2026.
  • Cash position is confirmed at approximately US$62 million following a recent US$60.3 million private placement completed April 1, 2026.
  • The company engaged Integral Wealth Securities Limited as a market maker for C$7,500 per month to assist with liquidity on the TSX Venture Exchange.
  • A share consolidation of three pre-consolidation shares for one post-consolidation share was implemented prior to trading resumption on April 24, 2026.
Material Impact
  • The OTCQB listing is a strategic move to increase visibility among U.S. investors but does not introduce new capital or assets; it follows the TSX.V debut announced in late April.
  • The drill program details (20,000 meters) were previously outlined in the May 19 news release and are now confirmed for execution starting mid-June.
  • The cash position of US$62 million aligns with the financing raised in April ($60.3M gross proceeds), indicating no immediate capital raise is required for the current exploration phase.
  • The market reaction to the merger (April 24) showed a sharp decline from $4.24 to ~$2.58, suggesting initial valuation was corrected downward before this news.
  • This news confirms execution of previously announced plans rather than introducing unexpected value drivers; therefore, it is incremental and expected by the market.
MACK · Price
Company Overview
  • Mackay Gold & Silver Corp. (formerly Drummond Ventures Corp.) completed a business combination with Toro Silver Corp. on April 17, 2026.
  • Flagship Project: Occidental Lode within the Comstock District, Nevada.
  • The Comstock District is historically significant for gold and silver production but has not been fully tested with modern exploration methods according to management.
  • Exploration strategy includes RC drilling (Phase 1) targeting shallow oxide mineralization and Core drilling (Phase 2) testing depth projections near the historic Sutro Dewatering Tunnel.
Read the original news release →

More from Mackay Gold & Silver Corp.

Aug 24, 2026 · 06:15

Mackay closes a $45 million deal to secure Nevada’s largest land package at the Comstock project.

M&A / Property Aug 20, 2026 · 08:01

Mackay mobilizes a second rig to the historic Comstock target, advancing its fully-funded Phase 1 exploration program.

Drill Results Jun 29, 2026 · 08:01

Mackay Gold starts a 20,000-metre drill program at the Comstock District to test depth projections of the Occidental-Brunswick lode.

Drill Results Jun 22, 2026 · 08:01

Mackay acquires Comstock’s Nevada assets to unify the vein system, adding complexity with price tags and royalties to the drill-heavy story.

M&A / Property Jun 22, 2026 · 06:15

Comstock Sells Legacy Mining Assets to Mackay Precious Metals Inc.

M&A / Property May 19, 2026 · 07:01

Mackay Gold & Silver Confirms Capital Adequacy for Nevada Drilling Amidst Post-Merger Volatility

Drill Results