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Monday, March 30, 2020
Ely Gold Royalities (ELY:CA)
A Golden Opportunity to Invest in an Emerging Gold Royalty Company
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.
Initiating coverage. Ely Gold is an emerging gold royalty company with a growing asset portfolio that includes 43 royalties, including three that are producing. Thirty-three are deeded royalties, while 10 are on leased property. Additionally, the company has 19 properties optioned for sale to third parties that provide a source of revenue under option/sale agreements. Lastly, the company has 35 properties available for sale and/or option. Ely Gold has made several significant transactions during the past six months which are expected to accelerate revenue and cash flow growth beginning in 2020 and potentially support the initiation of a dividend in 2021. The company is well-capitalized to fund its growth initiatives.
Attractive mining jurisdictions. The company’s projects are in favorable mining jurisdictions in the United States and Canada, including Nevada, Idaho and Quebec. Most of Ely’s properties are in Nevada, which ranked third among 76 mining jurisdictions in investment attractiveness in the 2019 Fraser Institute Annual Survey of...
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.