Movers and SHAKERS
Tuesday, June 16, 2020
Ely Gold Royalties (ELYGF)(ELY:CA)
Laying a Foundation for Growth
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.
White Rock Gold Project optioned to Provenance Gold. Ely Gold Royalties entered into an option/sale agreement with Provenance Gold, Inc. for 30 unpatented lode mineral claims on the White Rock Gold Project located in Elko, Nevada. The option payments amount to US$250,000 over four years. Upon sale, Ely Gold will retain a 2.0% net smelter returns royalty which includes a $25,000 annual advance minimum royalty payment. In May, Ely entered into a similar option/sale agreement with Great Western Mining for claims on the Olympic Gold Project also in Nevada which underscores the value of the company's available for sale portfolio.
Expanding its gold royalty portfolio. In 2020, the company has announced the purchase of 8 producing or near-term producing royalties and option/sale agreements on several properties, including Olympic and White Rock. We believe potential exists for the company to announce additional...
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.