Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
Increasing Its Stake in Nevada's Hog Ranch Gold Project
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.
Increases royalty and lease interest in Hog Ranch. Ely Gold Royalties, through its Nevada Select Royalty subsidiary, executed a binding term sheet to acquire an additional 25% interest in its Hog Ranch Property in Washoe County, Nevada, roughly 270 kilometers north of Reno, from Platoro West incorporated. The additional interest in Hog Ranch will increase Ely’s net smelter returns royalty to 2.25% from 1.5% and its interest in the leased mining claims to 75.1% from 50.1%.
Terms of the transaction. The term sheet provides for cash consideration, paid by Ely Gold at closing, of US$275,000 and the issuance of 1,000,000 warrants exercisable at C$0.90. The agreement is subject to approval by the TSX Venture Exchange. Platoro West is owned by William Sheriff, a director of Ely Gold Royalties. Recall that Ely Gold acquired its current interest from Platoro West in June ...
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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.