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Firm Closes Purchase of Royalty Interest
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Ely Gold Royalties closed a 15% net profit royalty interest on Nevada claims.

Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release that it closed the acquisition of a 15% net profit royalty interest from Liberty Gold Corp.

The percentage stake encompasses net profits from the recovery and sale of minerals from specific unpatented mining claims in Nevada's Mineral County. It also includes bonus payments for each gold equivalent ounce (Au eq oz) after 115,000 that is placed on the leach pads at the Regent Hill project, also in Mineral County. (Gold equivalent ounces would consist of gold, silver, platinum and palladium.)

The per-ounce quarterly bonus payments will go into effect when the monthly average gold price per ounce hits or exceeds US$1,400. At that price, payments will start at US$5.775 per Au eq oz and, if the monthly average gold price exceeds US$1,800, go as high as US$29.05 per Au eq oz.

For the 15% interest, Ely Gold paid US$800,000 and issued 2 million share purchase warrants. Each warrant allows for the purchase of one common Ely Gold share at CA$0.43 for two years.


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 and Liberty Gold. Click here for important disclosures about sponsor fees.
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