Tonogold is one of our longer held positions, with the MJG fund first taking a small position in August 2016. Including a subsequent financing and warrant exercises, our average cost sits between US$0.05 and US$0.06 per share.
Tonogold is focused exclusively on the historic Comstock Mining District located roughly 40 minutes outside of Reno, Nevada. To this day, the Comstock Lode remains one of the most significant mineral discoveries in North American history. In fact, the vast quantities of silver produced from the Comstock mines between 1859 and 1890 led to Nevada’s nickname as the