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Ely Gold Royalties Inc ELYGF

Metals & Mining Industrial Metals & Minerals
Ely Gold Royalties Inc is an exploration and development stage natural resource royalty company. It is engaged in the evaluation, acquisition, exploration, development, and sale of natural resource projects and royalties. The company is currently focused on purchasing royalties and selling its gold projects, with the potential to generate royalties, in the United States and Canada. It holds an interest in Fenelon property; Isabella Pearl and Jerritt Canyon among other operations.


OTCQX:ELYGF - Post by User

Ely Gold Royalties Inc > ELY Is Tearing It Up This Morning!
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Comment by Shylockreturnson Jul 30, 2019 9:42pm
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Post# 29977476

RE:RE:RE:RE:ELY Is Tearing It Up This Morning!

RE:RE:RE:RE:ELY Is Tearing It Up This Morning!flashcash -

May I inquire how we are certain there is a 2% royalty on Wallbridge?

Did not Ely sell 1% to Eric Sprott according to their News Release earlier this month, dated 2 July?

That same Release states Ely retains a 2% NSR on Fenelon but how is that structured?  If you read the info under Assets / Fenelon, it says, Ely Gold entered into a letter agreement with Balmoral Resources Ltd. whereby Ely Gold will acquire 100% of all rights and interests in the 1% (one percent) net smelter royalty on the Fenelon Mine Property, operated by Wallbridge Mining Company Limited, located in west-central, Quebec.

Q. 1.  How legally binding is the "letter agreement?"

Q. 2.  Where is the other 1% coming from?
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