This is nothing short of a disgrace!So, we finally have our answer as to why Ely was performing so poorly these past months despite its promising properties, leverage, etc.
All the while he was scheming to get Ely on the NYSE Wasser was telling everyone there were no plans for a reverse split. Of course, he conveniently omitted there was more than one way to skin a cat and sure enough he found it.
I have held this company from the very early days and recommended it to many based on its blue sky future and its incredible leverage. Now, those are all gone as its promising royalty properties are snatched by "da big boyz" in an empty shell of a company but which is on the NYSE, just as Wasser wanted!
Trey and his buds get the gold and we the shareholders get the shaft! Heard that one before? All too many times, I'm afraid. Disgusting and nauseating.
This heinous abuse of the small shareholder is yet again proof positive that for a company to succeed in the junior gold sector, whether it be as a junior gold explorer or a royalty company, it must not only have a good deposit in a good jurisdiction or good royalties in same, it must have honest and competent management. Ely had the royalties and the jurisdiction (for now, anyway) but it didn't have the management, and this coming from a dude who stated he read our posts and liked to keep up an open dialogue with shareholders . . . My derrire he did . . .
No doubt, ol' Trey boy will get his show on the NYSE road just before it crashes in the not too distant future. That would serve him right but it is an affront to his shareholders, those who believed in him and are now being taken to the cleaners by loss of opportunity relevant to Ely.
Well, we can kiss that good-bye.
Whether "GROY" will ever turn a dime is doubtful. All they have is what they extract from Ely. If you go to the GROY website and look under "Asset Stage," you will not find a single producing royalty. Not one. And the ones they do have which are labeled "Advanced - Exploration" or "Exploration" are in sketchy places.
I doubt Ely will see $1.46. PERIOD. It surely was nowhere near it today which in my view is very odd. The better to shaft you with, my dear.
Get what you can get for your stake in Ely while you can get it. I do not see a bright future for Ely in or out of GROY.
Personally, I am redeploying proceeds from Ely into one or several promising juniors. There are plenty of options and they not only have established deposits, are on the cusp of having one, are JV'd with a major producer or other factor which makes them worthy of investors' dollars but there is one thing they do not have . . . and that is sketchy management.
I would not touch GROY with a ten foot pole.
In an earlier post someone coined the term, beTREYed. If the shoe fits, it must be worn.
Great good fortune to all. I will see you on another board or boards.