Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


FY19 Features Strong Deal Flow for Vancouver-Based Royalty Firm
News Update

Share on Stocktwits


Among other transactions, the company acquired four producing or near-producing royalties.

Gold bars

Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) provided in a news release updates on many of its royalty assets.

The company has 34 deeded royalties, two of which are producing, and 20 properties, which are optioned to third parties. Ely Gold's royalty and sale portfolio generated more than an estimated CA$3 million in revenue in fiscal year 2019. The company is currently seeking a line of credit with Eric Sprott to be able to participate in a broader range of royalty sales and to manage its future equity offerings in line with market conditions.

"This year has been a transformational year for the company, with several properties being optioned or sold," Ely Gold President and CEO Trey Wasser said in the release.

In 2019 the company acquired four producing or near-producing royalties: Fenelon, Isabella Pearl, Jerritt Canyon and Lincoln Hill. Here is what is happening with those:

Fenelon: The operator Wallbridge is getting Fenelon permitted for production and executing a 70,000–80,000 meter (70,000–80,000m) drill program there.

Isabella Pearl: The operator Gold Resource Corp. achieved commercial production at the mine in early October. Royalty payments to Ely Gold should start in Q4/19. Next to current operations is the Isabella Pearl Extension, on which Gold Resource has started exploration and Ely Gold has a 2.5% net smelter royalty.

Jerritt Canyon: Ely Gold is now getting a monthly royalty from Jerritt Canyon Gold calculated at $0.225 per ton.

Lincoln Hill: The operator Coeur Mining reported a Measured and Indicated gold mineral resource at Lincoln Hill of 364,000 ounces (364 Koz) at 0.34 grams per ton (0.34 g/t) gold and 10,000,000 ounces (10 Moz) of 9.6 g/t silver. Inferred ounces there are an estimated 255 Koz gold at 0.34 g/t and 8 Moz silver at 11.2 g/t. Coeur is expected to start confirmation drilling later this year.

Other royalties of Ely Gold and their news include:

Gold Rock: The operator Fiore Gold recently finished a 15-hole drill program that showed thick intervals of oxide gold mineralization inside and outside the current resource pit shells. Fiore aims to expand the mineral resource ahead of the preliminary economic assessment expected by year-end 2019.

Amsel and Danbo: Spectral analyses of rock samples from these two properties are underway. Results are expected to provide a detailed mineral map for Amsel.

Tuscarora: The operator OceanaGold commenced a 4,000m drill program there to follow up on priority targets identified from a geophysical survey and gravity and geological mapping done earlier in the year.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Ely Gold Royalties. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold and Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe