Royalty Company Expands Portfolio with Nevada NSR Acquisition

IMG Auteur
 
Published : April 27th, 2019
271 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

Consistent with the firm's strategy, this new asset is at or near a producing mine with a quality operator.

Nevada

Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release it agreed to acquire for CA$750,000, from a private person, all of the rights and interests to a 1% net smelter return (NSR) royalty on Coeur Mining's Lincoln Hill property.

The transaction is expected to close on or around June 1, 2019. At that time, Ely Gold will pay the seller CA$400,000 and then on Jan. 10, 2020, pay the remaining CA$350,000. Also, the company will issue the seller 500,000 common stock purchase warrants. Each full warrant will allow the seller to buy one share of Ely Gold common stock at CA$0.17 for two years after the closing.

Ely Gold's new NSR royalty on Lincoln Hill includes 97 unpatented claims and one patented lode claim. Lincoln Hill has a Measured and Indicated oxide resource of 285,000 ounces (285 Koz) of gold and 7.3 million ounces (7.3 Moz) of silver contained in 23.4 million tons of mineralized material, along with an Inferred oxide resource of 74 Koz of gold and 2.2 Moz of silver, as recorded in 2014.

Located in Pershing County, Nev., Lincoln Hill is adjacent to Coeur's Rochester mine. "As Coeur moves toward the permitting of the new, stage six leach pad at Rochester, the higher-grade Lincoln Hill ore will be in very close proximity," Ely Gold President and CEO Trey Wasser said in the release.

The Lincoln Hill property also includes 23 unpatented claims known as the Rosal claims, on which Ely Gold currently holds a 1.5% NSR.

[NLINSERT]

 

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Visit The GOLD Report - www.theaureport.com – a unique, free site featuring summaries of articles from major publications, specific recommendations from top worldwide analysts and portfolio managers covering gold stocks, and a directory, with samples, of precious metals newsletters. To subscribe, please complete our online form, or send an email with the word 'Subscribe' in the subject field to subscriptions@theaureport.com. The GOLD Report is Copyright © 2005 by Streetwise Inc. All rights are reserved
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
USFed: Infinite QE Forever at Zero Bound
18 Augandreachase01
It was easy to apply for a personal loan with WESTERN LOAN FINANCE and they were quick to respond. They made the process seamless and were very hel...
There Is No Normal
19 AugS W.
My advice for what it is worth is to be like water. That is, take the path of least resistance, go with the flow. Furthermore look after yo...
August 19 Turn Date is Tomorrow – Are You Ready?
19 AugS W.
Well I guess that 19th August breakdown call is not working out at all, at this stage at least, S&P 500 up about 38 pts. Aside from that,...
There Is No Normal
19 AugGypsy
It's been over ten years since I began taking the advice of you, James, along with the advice of George Ure, Gregory Mannarino, Gerald Celente, The...
USFed: Infinite QE Forever at Zero Bound
08 AugS W.1
Why would anyone donate to Willie? He gets dudded by not doing due diligence and asks for people to help him out...really? The guy is alway...
A Purview of Dust
29 JulGypsy
You've gone and mentioned "the collapse" of Human Progress, James. I've often observed several throw-backs to Medieval (even Barbaric) Times ~ suc...
Final Voyage
24 JulS W.-1
There is something about AOC's eyes that make her look rather creepy, to say the least!
Refuting Ted Butler’s criticism
23 JulS W.
And the whack job tin foil conspirator award ( by a huge margin) goes to...you guessed it Ted Butler. Congratulations Ted, an outstanding ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS