OTCQX:ELYGF - Post by User
Comment by
StockMasterGodson Feb 04, 2020 8:37pm
173 Views
Post# 30643065
RE:The number of idiots on this board is increasing -
RE:The number of idiots on this board is increasing -Why did ELY sell 1% NSR of its WM fenelon mine property for $1.25M to Eric Sprott and then buy 0.5% NSR for $8M from Eric Sprott. I dont see how they are ahead. They are better off doing nothing.
Ely Gold Royalties Inc. has closed its previously announced royalty sale and private placement with 2176423 Ontario Ltd., a company controlled by Eric Sprott. Sprott has acquired 100 per cent of all rights and interests in a 1.0-per-cent net smelter returns royalty on the Fenelon mine property, operated by Wallbridge Mining Company Ltd., located in west-central Quebec. Under the terms of the agreement, Sprott paid Ely Gold a cash consideration of $1.25-million.
I think we were better off keeping the 1% NSR on WM. Am I missing something.