Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
Building on a Solid Track Record
As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2020 was a year of significant growth. In 2020, the company significantly enlarged its asset portfolio via acquisition and option agreements. Ely’s current portfolio includes 12 key assets including 4 producing royalties, 26 development assets, and 43 exploration assets. Ely also owns 20 additional mineral properties which are being marketed for sale. In 2020, the company doubled the number of key assets, increased the number of producing royalties, purchased 12 development portfolio royalties on properties near producing mines or part of larger resources, and added 13 properties to its sale portfolio.
2020 financial results. Total revenue increased 60.8% to C$3.3 million compared to C$2.1 million during 2019 and our estimate of C$3.5 million. Royalty revenue increased to C$2.2 million, while option proceed revenue decreased 12.8% to C$1.0 million. Gains associated with the disposal of mineral interests amounted to C$118.2 thousand compared to C$918.4 thousand in 2019. Ely Gold Royalties reported ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.