Mackay Gold & Silver Begins Trading on TSX Venture Exchange After Comstock District Deal
Mackay Gold & Silver Corp. (TSXV: MACK) opened trading on the TSX Venture Exchange on Friday, April 24, 2026, marking its debut as a Tier 2 mining issuer. The company received final exchange approval on April 23, completing a business combination with Toro Silver Corp. that had closed a week earlier on April 17.
The company was formerly known as Drummond Ventures Corp., a capital pool company. The deal with Toro Silver served as its Qualifying Transaction under TSX Venture Exchange rules. Drummond changed its name and consolidated its shares on a three-for-one basis before the transaction closed.
US$60 Million Raised Ahead of Listing
On April 1, 2026, the company and Toro completed a non-brokered private placement of approximately 43 million subscription receipts at US$1.40 each. The offering raised gross proceeds of US$60.3 million and attracted multiple leading gold funds as shareholders. Combined with existing cash, Mackay holds an estimated US$62 million on its balance sheet.
The proceeds are earmarked for mineral exploration at the company’s Comstock District property in Nevada, along with exploration salaries, consulting fees, property holding costs, and general working capital.
Comstock District: A Historic Nevada Address
Mackay’s sole focus is the Comstock District in Nevada, a region credited with producing an estimated 8.2 million ounces of gold and 192 million ounces of silver between 1859 and 1926. The district is widely regarded as one of the highest-grade epithermal systems in American mining history.
Mackay describes its land package as the first district-scale consolidation in the Comstock’s 150-plus-year history. Prior to this consolidation, ownership of the district was highly fragmented, which limited the ability to conduct systematic, large-scale exploration. The company says that unifying the land position enables a modern exploration approach that was not previously possible.
Management Commentary
Chief Executive Officer Darwin Green cited the company’s namesake as a source of inspiration. John Mackay was a 19th-century mining entrepreneur who became one of the central figures in developing the Comstock Lode, building significant wealth from the district’s bonanza-grade silver and gold deposits.
Green said the company is well positioned to advance exploration with its current cash position and focused strategy. Mackay states its goal is to become the leading gold and silver exploration company in Nevada while maintaining environmentally and socially responsible practices.
Mackay Gold & Silver Key Details
Ticker: TSXV: MACK
Exchange: TSX Venture Exchange (Tier 2 Mining)
Trading commenced: April 24, 2026
Cash position: US$62 million (estimated)
Private placement: US$60.3 million at US$1.40 per receipt (April 1, 2026)
Focus: Gold and silver exploration, Comstock District, Nevada
Transaction type: Three-cornered amalgamation with Toro Silver Corp.
Former name: Drummond Ventures Corp.
