Movers and SHAKERS
Ely Gold Royalties (ELYGF)(ELY:CA)
Executes Option Agreement to Sell Aurora West Property to Goldcliff Resources
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.
Option agreement to sell Aurora West. Ely Gold Royalties, through its Nevada Select subsidiary, executed an option agreement for Goldcliff Resource Corporation (OTCBB, GCFFF, Not Rated) to acquire the Aurora West Property located in Mineral County, Nevada. Ely will retain a 2% net smelter return (NSR) royalty. Nevada Select is currently optioning the property from a third-party private company. Aurora West includes 51 claims and is contiguous with claims held by Hecla Mining Company (NYSE, HL, Not Rated).
Terms of the transaction. Goldcliff will acquire the property for US$425 thousand, including the following payments: 1) US$25 thousand to Nevada Select at closing; 2) US$50 thousand to the private company on September 23, 2021; 3) US$135 thousand to the private company on September 23, 2022 at which point Nevada Select will take possession of the Aurora West Property; 4) US$200 thousand to Nevada ...
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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.