Value Microcaps Junior Miners

[Bobwins]

elygf/ely.v -.09 to US$1.12

Ely Gold Royalties has been selling off after reaching a near term peak of US$1.54 on 7/1/20. Apparently Bil Sheriff has been selling some of his stake, which he got in 2017 from selling some of his mining claims to Ely.

Watched a presentation from Trey Wasser, CEO, this morning and feel better about Ely going forward. They announced a new purchase of 3 royalties from a veteran Nevada prospector. In addition, Wasser answered my big question about their Fenelon/Wallbridge Mining royalty. I have searched the Wallbridge presentation and couldn't find any mention of production while Ely has been showing royalty income from Fenelon in previous presentations.

Wasser explained that Wallbridge had wanted to apply for another bulk mining permit in order to drive their shaft deeper to drill underground and understand and document their deposit more clearly. However authorities didn't want another bulk mining permit and told them to apply for a small mining permit. That permit is being processed and will likely be approved by year end 2020. Wallbridge is ready to mine up to 500tpd as soon as the permit is issued because they had already built a facility to process their previous bulk mining permit. So Ely is anticipating Fenelon going into a low level of production in 2021.

Wasser said that Wallbridge didn't want the market to judge them as a small producer because their medium term goal is to be a 100K+ oz producer. So they have nothing about production on their website.

We should find out in a few months if Wallbridge is going into production after their permits are approved. Wallbridge released a very rich hole today also. 24 gm/tonne over 15 meters!!
https://finance.yahoo.com/news/wallbridge-intersects-24-61-g-113000192.html

I expect Ely Gold Royalties to continue to appreciate. Wasser said in the presentation that they have outperformed every other royalty company over the past 18 months. I think the upside is still substantial and a low risk way to play the ongoing gold bull market.