Movers and SHAKERS
Wednesday, July 22, 2020
Ely Gold Royalties (ELYGF)(ELY:CA)
Adds Another Royalty to Its Portfolio
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 Lincoln Hill. Ely Gold Royalties agreed to acquire an additional one percent net smelter returns (NSR) royalty on Coeur Mining’s (CDE, $7.35, Outperform) Lincoln Hill property. The transaction, executed with a private individual, is expected to close around September 1 and doubles Ely's NSR royalty on Lincoln Hill to 2%. Ely will pay the seller $500 thousand upon closing and $500 thousand on January 10, 2021. Additionally, the seller will receive one million Ely stock purchase warrants.
Lincoln Hill offers expansion potential. Coeur is advancing the Lincoln Hill deposit adjacent to their Rochester Mine in conjunction with their expanded plan of operations for the Rochester mine. Permitting is complete for a new 300-million-ton leach pad that will ...
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.