Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
ELY Consolidates Railroad-Pinion Royalties in Nevada's Carlin Trend
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.
Near-term producing royalty acquisition. Ely Gold Royalties executed binding agreements with 12 private parties to acquire royalty interests covering a portion of the Railroad-Pinion project that is being developed by Gold Standard Ventures Corp. (NYSE American, GSV, Not Rated) as a heap-leach mining operation. The leases provide for an aggregate 1.15% net smelter returns royalty and annual lease payments of over $150 thousand. The mineral interests and leases cover large portions of the Dark Star, Pinion, and Jasperoid Wash deposits and portions of the POD and Bald Mountain zones.
Terms of the transaction. Ely will close the transaction in two tranches. Eleven of the transactions are expected to close on December 1, 2020, while one is subject to approval by the Toronto Venture Exchange. Ely Gold will pay total consideration of US$2,509,543 cash at closing and will separately pay US$1,300,000 cash consideration and issue 300,000 common stock warrants for the transaction ...
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.