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Thanks AKGold
I loaded up on PM stocks yesterday. Looks like I should have waited one more day.
LGCUF has moved some off the bottom now. Seems to be taking on some debt though. Hopefully, it will be spent wisely.
Ely Gold Announces Sale of Mina Gold Property, Nevada, Retains Royalty
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8:17 AM ET 8/15/16 | PR Newswire
TSX-V:ELY
Ely Gold & Minerals Inc. ("Ely Gold" or the "Company") (TSX-V: ELY, OTC: ELYGF) is pleased to announce its wholly-owned subsidiary, Nevada Select Royalty, Inc. ("Nevada Select") has executed a purchase agreement (the "Agreement") for the sale of its 100% owned Mina Gold property located in Mineral County, Nevada to Gold Resource Corporation (NYSE MKT: GORO) ("Gold Resource") for US$1,000,000. Nevada Select will retain a net smelter royalty ("NSR") of separate and varying percentages on various claims on the Mina Gold property. Closing of the Agreement (the "Closing"), which is subject to Securities Exchange Commission approval, is expected to be on or about August 19, 2016.
Terms of the Agreement include:
-- a total sale price of US$1,000,000 to be paid, at Closing, as follows:
-- US$150,000 cash as a one-time advance royalty payment;
-- US$850,000 in Gold Resource restricted common stock, which equated to 130,000 shares issued at the closing price on August 12, 2016 of $5.63 per share;
-- Nevada Select will retain various NSR's on the Mina Gold property;
-- Gold Resource will receive Mina Gold property deeds at Closing, and will own 100% of all 48 claims.
Terms of the NSR retained by Nevada Select include:
-- a 3% NSR on five patented claims;
-- a 2% NSR on thirty-nine unpatented claims, staked by Nevada Select;
-- a 1.5% NSR on four unpatented claims, purchased by Nevada Select with existing .5% NSR;
-- a 2% NSR on additional unpatented claims staked by Gold Resource within a one-mile area of interest;
-- Gold Resource has the option to buy-down 1% of the NSR on the patented claims for US$1,000,000;
-- Gold Resource has the option to buy-down .5% of the NSR on all unpatented claims for US$500,000.
The Mina Gold property covers an area of approximately 825 acres consisting of 43 unpatented claims and five patented claims in central Nevada's Walker Lane Mineral Belt located in Mineral County, approximately seven miles northeast of Gold Resources' Gold Mesa property. Gold mineralization at Mina Gold is hosted by epithermal quartz veins occurring along fault zones in volcanic host rock outcropping at the surface.
Trey Wasser, President and CEO of Ely Gold stated, "We are extremely pleased to complete our second transaction with Gold Resource and we hope to continue this partnership as they expand their Nevada operations. The Mina Gold project is an exemplary demonstration of Ely Gold's new business model of acquisition and packaging of properties while retaining NSRs. Our team skill-sets for project development allow us to generate new exciting properties and attract quality mining partners. We anticipate making further sales and accretive acquisitions to add to our current platform in Nevada"
Nevada Select has successfully consolidated the Mina gold property by completing the following transactions:
-- purchased eight unpatented claims from Nevada Eagle LLC "NEL" (refer to press release dated May 4, 2016);
-- under the terms of the NEL purchase, the Company negotiated a property exchange with Timberline Resources Corp. for the five Mina patented claims;
-- staked 35 additional claims in April 2016;
-- negotiated the termination of the underlying 2% NSR with Till Capital (refer to news release dated August 12, 2016);
-- acquired and organized a large historical data base.
Jerry Baughman, President of Nevada Select, commented, "Our Mina Gold project is an excellent example of how we are able to quickly consolidate claims and generate fresh properties that have not seen exploration in the current mining cycle. Our ability to acquire properties through acquisition and staking, coupled with Ely Gold's capacity to secure capital financing, puts Nevada Select in a unique position to offer 100% ownership to our partners while securing and retaining royalties. We look forward to updating our shareholders with additional Nevada-based transactions in the near future.
About Ely GoldEly Gold is focused on developing recurring cash flow streams through the acquisition, consolidation, enhancement, and resale of highly prospective, un-encumbered North American precious metals properties. Ely's property development efforts maximize each property's potential for acquisition, while reserving significant royalty interests. Additional information about Ely Gold is available at the Company's website, at www.elygoldinc.com
Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.
On Behalf of the Board of Directors
Trey Wasser, President & CEO
Forward-Looking Statements This news release contains statements concerning Ely Gold and Mineral's acquisition, development, and marketing of North American precious metal resource properties and the Company's intent to sell or option portfolio properties, while reserving any royalties. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Ely Gold and Minerals' believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of the Company to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration, exploitation or acquisition of properties and the general risks and uncertainties involved in mineral exploration and analysis.
The forward-looking statements or information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ely Gold & Minerals Inc.
The day after they report earnings?
Up another .43 cents after hours!
up 180% on light volume. Ask/Bid gapped out. Apparently, MMs are thinking possible news, but not sure.
They have been working with Daimler. I wonder what other car company this could be.
The company profile on my Etrade account.
RushNet, Inc., is engaged in the sale of multimedia computer systems and peripherals through its Website and through affiliated retail locations in Arizona. The Company's products use components from suppliers as they become available, such as Intel, Advanced Micro Devices, ASUS, Sony, Yamaha and Creative Labs. Distribution is accomplished through a drop-ship arrangement with Aurora' suppliers. The product is shipped directly from the supplier to the customer. Customers are invoiced for and pay the Company directly for all products ordered before shipping. The suppliers and Aurora have an understanding that the suppliers will not deal directly with the Company's customers without the Company's permission.
I find for some reason it usually takes a couple of days after good news for certain stocks to make their best moves up. My guess is that the buying pressure has to first eat through some sell orders. That along with some possible dilution by the company so they can pay the bills.
Something is up. Insider buying along with the buying back of shares.
I've been in and added more today.
Chart and PPS looks like news may be coming. The chart looks alot like it did when it went all the way up to $9 a share. Hopefully any supposed news will be good news.
There is a post on the Yahoo OMEX Message board stating that the Mexican Gov't official who denied permission for OMEX to proceed has now left his job and is being replaced.
The post gave the officials name along with a little other info.
What this means for us remains to be seen.
Some times a Reverse Split is a necessary evil. As for if management has performed well still remains to be seen.
As for news in the last couple of days??? I don't want a Pump and Dump stock or a fluff PR to some how make someone feel better about their investment or in your case involvement in a stock.
No news is good news in my opinion. We will know soon enough which way this is going or if the company has any other business ventures in the pipeline.
Frankie, I merely stated the obvious about your post.
As for the company supposedly digging a hole for itself I don't see it that way.
The circumstances of the U.S. Gov't allowing Spain to steal 1/2 Billion in treasure from OMEX in exchange for a favor for a political donor was unforeseen and out of the companies control. If the outcome of that had been in OMEX's favor we would not be having this conversation.
Furthermore, those unforeseen circumstances are the gamble any would be investor in this company or any other company who is a publicly traded stock takes.
Yes, maybe the company could take pay cuts in times of trouble and they may have. I do not know if they did or didn't, because when I invest in a company like this I do not care. A stock like this is like buying metal detector. If the metal detector finds something of great value then my investment in it paid off. If I find nothing with that metal detector then I was simply entertained with the prospect of a possible monetary gain for the cost of my investment.
Frankie Fillet are you still invested in OMEX??? If so why do you continue to bash it and drop negative innuendo's at every turn?
Didn't you say "Maybe it will go up another round and I can exit. "
It went up another round before it dropped Yet you are some how still here bashing.
Just trying to understand where you are coming from. Never heard of someone who hates a stock so badly and who could have sold at a profit staying in and continuously bashing his own investment.
I actually bought more this morning. We shall see if it pays off. Additionally, here is an interesting article:
http://seekingalpha.com/article/3964556-odyssey-marine-disappointing-delay-lost?li_source=LI&li_medium=liftigniter-widget
Ouch! Don Diego project denied by Mexican gov't !!!!
Good thing I sold my big position in this one.
With the shares I have left the loss in share price today still hurts.
Good Morning.
I'm surprised no one has mentioned OMEX on this board.
If a company does an R/S to clean up he share count before actually doing positive things like OMEX recently did then it's a good thing.
Although, I don't see that happening here.
It's encouraging to see that NASDAQ has a 1 Year Target of $30 for this stock.
I believe that what is really going on here is that they are merely cleaning up all the supposed valuable ore that is laying around, converting it to cash and not planning on doing any mining at all.
It's encouraging to see that NASDAQ has and 1 Year Target of $30 for this stock.
http://www.nasdaq.com/symbol/omex
It seems like someone is covering.
Also, does anyone think the company might do a forward split with good news from Mexico?
I would not want to be any MM with a short position in this stock. The upside will be record breaking if this company is given a possible Billion Dollar valuation with the stroke of a pen.
Yea, I'm afraid the definition of a gold mine in this case is: A hole in the ground with a liar standing at the top.
Furthermore, the O/S is North of 9,000,000 not 142K as per the Market Cap
You should find them in your portfolio as a Cusip number for a few days.
CJTFD is the new ticker symbol I believe
I purchased Shares of ACI this AM and then after coming across this report
http://www.platts.com/latest-news/coal/london/ice-coal-futures-rise-38-on-month-in-nov-to-1648-26299244
I purchased even more shares this evening.
I will be buying a few shares at this price in the morning and I will be holding them at least until after the election next year when hopefully sanity will be restored.
I don't expect much news out of OMEX until spring when the weather breaks. I have had this one on my radar for a couple of years and took my first position last week and added some more this week when I noticed the chart stair stepping up. Now I will just wait until summer and see what happens.
Merry Christmas and Happy Holidays everyone. MC2