Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
The Company You Keep
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.
Increasing exposure to Coeur's Rochester mine expansion. Ely Gold Royalties, through its Nevada Select Royalty subsidiary, executed a binding term sheet to acquire a 2% net smelter royalty (NSR) from a private third party on three unpatented mining claims located within Coeur Mining’s (NYSE, CDE, Outperform) Lincoln Hill Property in Pershing County, Nevada. The term sheet is subject to approval by the TSX Venture Exchange and a waiver of first refusal by Coeur Mining.
Terms of the transaction. Ely Gold will pay cash consideration of US$200 thousand and issue 500 thousand warrants exercisable at the December 22 closing price, subject to a four-month hold, that expire in three years. At closing, Ely will be assigned 2% of the Raven Royalty, which is a 4% NSR in aggregate, and is not subject to any royalty buy-down and has no advance minimum royalty payments ...
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.