Ely Gold Royalties Inc ELYGF

RE:RE:The number of idiots on this board is increasing -

[Goldwillrun2020]

StockMasterGods wrote: 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.

Wallbridge was their "Cornerstone" holding and they bragged about it non-stop. Now its gone to Sprott?

Plus substantial dilution with this deal.

Something very odd, IMO.


PS - to the clowns who keep yapping that they're so smart, so experienced and have 30 years of investing experience...blah blah blah...and everyone else is an amateur...STFU

If you're so smart, so wealthy, so successful, then why are YOU here yapping on a chat site...  LMAO!!!


GL today folks