Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
Executes Option Agreement to Sell Weepah; Closes Acquisition of Watershed Royalty
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.
Option agreement to sell Weepah. Ely Gold Royalties, through its Nevada Select subsidiary, executed an option agreement for Navy Resources Corp. (TSXV, NVY, Not Rated) to acquire the Weepah Property located in Esmeralda County, Nevada. Ely will retain royalty interests. Weepah is in the Walker Lane Trend roughly 32 kilometers southwest of Tonopah, Nevada and includes 66 unpatented claims known as the Cordex Claims, 10 unpatented claims known as the Nevada Select Claims, and 1 patented claim known as the Electric Claim. The agreement is subject to approval by the Toronto Venture Exchange.
Terms of the transaction. Navy will have the option to purchase 100% of the property in exchange for US$1 million and 500 thousand Navy shares, including the following payments: 1) US$50 thousand in cash to Nevada Select upon entering the agreement; 2) 50 thousand Navy shares within 5 business days of TSXV approval, 3) US$100 thousand in cash and 100 thousand Navy shares on or before the first ...
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*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.