Wednesday, August 12, 2020

Ely Gold Royalties (ELYGF)(ELY:CA)

Expands Nevada Portfolio with Acquisition of Three Royalties

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.

Ely adds three Nevada royalties. Ely Gold Royalties executed a purchase agreement for a package of three net smelter returns (NSR) royalties on properties in Nevada from a third party for US$350 thousand. The royalties include a 0.33% NSR on the Sleeper Gold Mine Project owned by Paramount Gold Nevada Corp., a 1.0% NSR on 38 mining claims associated with Coeur Mining's Lincoln Hill and Gold Ridge properties and a 1.0% NSR on 40 acres of ground associated with Waterton Global's Mt. Hamilton project. The transaction is expected to close on or around September 15, 2020.

Outlook for precious metals prices remains favorable. On August 11, gold and silver futures fell 5.5% and 14.6%, respectively, following gains of 12.8% and 57.0% since the end of the second quarter through August 10. A stronger U.S. dollar, higher Treasury yields and factors, such as potential remedies associated with COVID-19, favoring risk assets were all cited as causes for ...

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.