SCHEDULE 13G 0001426156 XXXXXXXX LIVE Common Stock, par value $0.000666 per share 01/29/2026 0001120970 COMSTOCK INC. 205750409 177 American Flat Road PO Box 1118 VIRGINIA CITY NV 89440 Rule 13d-1(c) MAK Capital Fund LP a D0 0.00 5452154.00 0.00 5452154.00 5452154.00 N 7.6 PN For item 11: As of the close of business February 5, 2026. The calculation is based upon 71,371,868 shares of common stock, par value $0.000666 per share ("Common Stock") outstanding as of the close of business February 3, 2026 as reported by the Issuer on the fifth page of its Investor Presentation filed as Exhibit 99.1 to the Issuer's Current Report Form 8-K filed with the Securities and Exchange Commission on February 3, 2026. MAK Capital One L.L.C. a DE 0.00 5452154.00 0.00 5452154.00 5452154.00 N 7.6 IA For item 11: As of the close of business February 5, 2026. The calculation is based upon 71,371,868 shares of common stock, par value $0.000666 per share ("Common Stock") outstanding as of the close of business February 3, 2026 as reported by the Issuer on the fifth page of its Investor Presentation filed as Exhibit 99.1 to the Issuer's Current Report Form 8-K filed with the Securities and Exchange Commission on February 3, 2026. Michael A. Kaufman a DE 0.00 5452154.00 0.00 5452154.00 5452154.00 N 7.6 IN For item 11: As of the close of business February 5, 2026. The calculation is based upon 71,371,868 shares of common stock, par value $0.000666 per share ("Common Stock") outstanding as of the close of business February 3, 2026 as reported by the Issuer on the fifth page of its Investor Presentation filed as Exhibit 99.1 to the Issuer's Current Report Form 8-K filed with the Securities and Exchange Commission on February 3, 2026. COMSTOCK INC. 177 American Flat Road, P O Box 1118, Virginia City, NV 89440 This Schedule 13G is being filed by i. MAK Capital Fund LP ("MAK Fund") ii. MAK Capital One L.L.C. ("MAK Capital"); and iii. Michael A. Kaufman ("Mr. Kaufman," and collectively with MAK Fund and MAK Capital, the "Reporting Persons") The principal business address of (i) MAK Fund is c/o Wakefield Quin, Victoria Place, 31 Victoria Street, Bermuda; and (ii) MAK Capital and Mr. Kaufman is 590 Madison Avenue, 31st Floor, New York, NY 10022. MAK Fund is a Bermuda limited partnership. MAK Capital is a Delaware limited liability company. Mr. Kaufman is a United States citizen. Y 5452154 7.6 As of the close of business February 5, 2026. The calculation is based upon 71,371,868 shares of common stock, par value $0.000666 per share ("Common Stock") outstanding as of the close of business February 3, 2026 as reported by the Issuer on the fifth page of its Investor Presentation filed as Exhibit 99.1 to the Issuer's Current Report Form 8-K filed with the Securities and Exchange Commission on February 3, 2026. 0 5452154 0 5452154 N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. MAK Capital Fund LP /s/ Michael A. Kaufman 02/05/2026 MAK Capital One L.L.C. /s/ Michael A. Kaufman 02/05/2026 Michael A. Kaufman /s/ Michael A. Kaufman 02/05/2026