Ely Gold Royalties Inc. (fka ELYGF)

[ThSeeker]

$360,000 /yr -- IF I am understanding this that would mean ELY could get about
$360,000 /yr from this assuming $1600 gold and 1.2 million tons mined

The PTR Payment is based on the Average Realized Gold Price (“ARGP”) which is derived by dividing Total Gold Revenue during the previous month by Gold Ounces Sold during the previous month, Royalties would be calculated, in US$, as:

$0.15 per ton if the ARGP is less than or equal to $1,300 per ounce; or
$0.225 per ton if the ARGP is greater than $1,300 but less than or equal to $1,600 per ounce; or
$0.30 per ton if the ARGP is greater than $1,600 but less than or equal to $2,000 per ounce; or
$0.40 per ton if the ARGP is greater than $2,000 per ounce.

Since mining began at Jerritt Canyon, more than eight million ounces of gold have been produced. Gold was first discovered at Jerritt Canyon in 1972, with the first gold poured in 1981. Underground operations began in 1993. The mineral processing operation at Jerritt Canyon is one of only three gold processing plants in Nevada that uses roasting in its treatment of refractory ores. Jerritt Canyon is designed to process highly refractory gold ores up to 4,000 TPD and has processed in excess of 1.1 million tons in 2017 and 1.2 million tons in 2018.