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Ely Gold Royalties Inc ELYGF

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

Comment by silverTon Jan 23, 2020 4:19pm
194 Views
Post# 30590897

RE:RE:RE:Rick Rule who owns 20% - Interview on gold

RE:RE:RE:Rick Rule who owns 20% - Interview on goldSmart move...........Isabella Pearl Royalty & Satellite Royalties Gold Resource Corporation (NYSE American: GORO) announced that its Isabella Pearl Mine had reached commercial production in a press release dated October 7, 2019. On October 21, 2019, Ely Gold announced the closing of its purchase of a 0.75% gross receipts royalty on certain claims at the Isabella Pearl Mine from a private estate. Ely Gold paid the owner a cash consideration of US$300,000 for the Isabella Royalty. Royalty payments are expected to begin in Q4 2019. The first royalty payment to Ely Gold is subject to the recovery, by GORO, of US$62,500 in advanced royalty payments. GORO has projected 2020 production of 29,000 ounces GOE from Isabella Pearl with production increasing to 40,000 in 2021. Exploration and drilling has begun on the Isabella Pearl Extension on which Ely Gold has 2.5% NSR. This property is adjacent to the current operations, extends for six miles and has several drill ready targets. GORO'S Nevada Mining Unit now controls over 10,100 hectares (25,000 acres) of development and exploration lands in Nevada's south-central Walker Lane Mineral Belt. Within 15 miles of Isabella Pearl, GORO owns three additional properties (County Line, East Camp Douglas and Mina Gold) which are in various stages of exploration. All four Nevada properties have potential for open pit heap leach operations. Ely Gold's purchase of the Isabella Royalty was the fifth transaction that the Company completed in concert with GORO's consolidation of its Nevada Mining Unit. These transactions highlight Ely Gold's growth strategy of generating royalties, through property acquisition and consolidation, at or near producing mines throughout Nevada. Since 2016, Ely Gold property sales to GORO have totaled US$1,500,000 and have generated the following royalties: 2.5% NSR on key Isabella Pear Extension claims; 2.5% NSR at the County Line Property; 2-3% NSR at the Mina Gold Property; and 2% NSR on certain claims at the Camp Douglas Property.
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