Ely Gold Royalties Inc.

Expert Comments:

	Mark Reichman, Noble Capital Markets (7/1/20) "Ely Gold Royalties Inc. recently filed an independent NI 43-101 technical report dated June 8, 2020 on the Jerritt Canyon mine. . .based on the company's successful record of growing its project portfolio coupled with a constructive gold price outlook, we think Ely Gold offers attractive growth potential."
Royalty Company Receives First NSR Payment from Nevada Project (6/28/20) This payment comes from one of two producing royalties Ely Gold Royalties holds on the asset. read more >
Junior Royalty Company Wants to Be a Major (6/18/20) Ely Gold aims to emulate the early years of today's royalty majors. read more >
Royalty Company to Sell Claims on Nevada Property (6/16/20) Ely Gold Royalties will retain a 2% net smelter returns royalty on any future production there. read more >
Mark Reichman, Noble Capital Markets (6/16/20) "Ely Gold Royalties Inc. entered into an option/sale agreement with Provenance Gold for 30 unpatented lode mineral claims on the White Rock gold project. . .the option payments amount to $250K over four years. Upon sale, Ely Gold will retain a 2% net smelter returns royalty which includes a $25K annual advance minimum royalty payment. . .In our view, Ely Gold offers shareholders leverage to gold prices through its growing portfolio of long-term gold royalties."
Mark Reichman, Noble Capital Markets (5/26/20) "Ely Gold Royalties Inc. has made several significant transactions in recent months that are expected to accelerate revenue and cash flow growth. . .based on the company's successful record of growing its project portfolio coupled with a constructive gold price outlook, we think Ely Gold offers attractive growth potential."
Mark Reichman, Noble Capital Markets (5/14/20) "Ely Gold Royalties Inc. announced that it has completed the purchase agreement of a 0.5% net smelter returns royalty on the Jerritt Canyon mine. . .royalty payments began to accrue in February 2020. Ely Gold also holds a per ton royalty interest on the Jerritt Canyon processing facilities and a 0.75% producing royalty on the Isabella Pearl mine operated by Gold Resource Corp."
Gold Royalty Company's Shares Elevated to OTC's Top-Tier Marketplace (5/13/20) Ely Gold Royalties reported that its common shares are now listed for trading on the OTC Markets Group's OTCQX marketplace. read more >
	Gwen Preston, The Maven Letter (5/13/20) "Ely Gold Royalties Inc. has upsized the private placement it announced last week; it will now raise $15M instead of $10M and will include an overallotment option that, if fully exercised, would boost the financing to $17.25M. The company has also begun trading on the U.S. OTC market under the symbol ELYGF."
	Jay Taylor, Hotline (5/8/20) "Due to investor demand. . .Ely Gold Royalties Inc. and a syndicate of agents led by Clarus Securities and Mackie Research Capital have agreed to increase the size of the previously announced offering of C$10 million to C$15 million at a price of 80 cents per unit. . .The aggregate gross proceeds of the offering, if the overallotment option is exercised in full, shall be $17.25 million. . . I think there is a lot more upside for Ely given their pipeline of near-term producing projects as well as a large number of attractive exploration projects located mostly in Nevada."
Royalty Firm Closes Acquisition of Nevada Royalty (4/15/20) Ely Gold Royalties holds a second royalty on the same Nevada property in the Carlin Trend. read more >
Royalty Company Closes Two Concurrent Nevada Deals (4/6/20) Ely Gold Royalties completes a claims acquisition and a related consolidated land sale. read more >
Gold Royalty Company Finalizes Purchase and Lease Assignments for Eight Nevada Mine Claims (3/31/20) Ely Gold Royalties has completed the purchase agreement and lease assignments for eight mining claims at the producing Gold Bar Mine located in Eureka County, Nevada. read more >
Firm Closes Purchase of Royalty Interest (3/16/20) Ely Gold Royalties closed a 15% net profit royalty interest on Nevada claims. read more >
Junior Royalty Firm to Acquire Nevada Portfolio (3/2/20) The package offers Ely Gold royalty generation and future potential. read more >
Royalty Firm Options Nevada Project to Gold Company (2/27/20) Ely Gold Royalties consolidates four claim groups in the district. read more >
Royalty Company to Acquire More Claims at Nevada Mine (2/12/20) With this deal, Ely Gold Royalties will own six properties and royalties there. read more >
Gold Royalty Company to Purchase Nevada Mining Claims (2/4/20) The transaction will consolidate the firm's land position in a historical mining district. read more >
Firm Could Receive First Royalty Payment This Year from Fenelon Project (2/1/20) Production at the property is expected to commence in late 2020. read more >

More Expert Comments

	Gwen Preston, The Maven Letter (5/6/20) "We got word this week of a financing for Ely Gold Royalties Inc., one that will raise $10M by issuing 12.5M units; priced at $0.80, each unit will consist of a share and a half-warrant redeemable for $1 on a whole warrant basis for up to three years from closing. . .the dream is to get to cash flow positive from royalties and project payments and Ely is close, but the team also sees a lot of opportunity to keep growing."
	Mark Reichman, Noble Capital Markets (3/30/20) "We are initiating coverage on Ely Gold Royalties Inc. with an Outperform rating. It is an emerging gold royalty company with a growing asset portfolio that includes 43 royalties, including three that are producing. . .Ely Gold is well capitalized to fund its growth initiatives."
	Gwen Preston, The Maven Letter (2/5/20) "Ely Gold Royalties Inc. announced deals that add two important assets to its portfolio in recent days, and its share price jumped 10% in response. The first acquisition was the purchase of 75 patented mining claims in Nevada, known collectively as the Tonopah Extension claims. . .following on the heels of the Tonopah announcement came word that the company would buy a producing royalty on the Jerritt Canyon mine, which is also in Nevada."
	Thibaut Lepouttre, Caesars Report (12/6/19) "Ely Gold Royalties Inc. sold its Gold Bar claims to McEwen Mining which appears to be very interested in securing the whole area. . .as consideration for the sale, Ely Gold will receive 53,600 shares of McEwen Mining which will also reimburse an Ely subsidiary for in excess of CA$50K in claim fees and taxes. Ely will also retain a 2% net smelter return on both the patented and unpatented claims."
	Gwen Preston, The Maven Letter (11/27/19) "The investment thesis for Ely Gold Royalties Inc. remains on track; the company has closed multiple deals, optioning projects out and buying royalties, and it is set to collect $3M in royalty and deal payments in 2019. The company also arranged a $6M line of credit with Eric Sprott, which gives it the ability to go after bigger royalties should a good opportunity come along."
	Thibaut Lepouttre, Caesars Report (11/21/19) "Although Ely should still have a very healthy treasury (as we expect some of the CA$0.22 warrants that were issued as part of last year's placement will also be exercised, resulting in an additional cash inflow), it also entered into a line of credit agreement with Eric Sprott whereby the company will be able to draw down up to CA$6M in convertible debentures. . .although Ely doesn't really need the cash, it looks like it wanted to maintain a certain level of financial flexibility at a reasonable cost."
	Gwen Preston, The Maven Letter (11/10/19) "Ely Gold Royalties Inc. has sold or optioned several properties and will collect $3M in royalty and deal payments this year. Meanwhile, the company purchased four producing or near-term royalties, including a 2% net smelter returns royalty on the permitting stage Fenelon mine, a per ton royalty interest on the operational Jerritt Canyon processing facilities and a 1% royalty on the Lincoln Hill property owned by Coeur Mining."
Gwen Preston, The Maven Letter (9/4/19) "Ely Gold Royalties Inc. just keeps finding good projects and making good deals, and the market is starting to take note. . .the company also watches closely for claims that lapse and jumps on them. . .with cash from project deals and a stronger share price, Ely Gold is also on the hunt to buy a producing royalty, as that would put it in a position to start paying a dividend."
	Mickey Fulp, Mercenary Geologist (7/22/19) "If you are new to the Ely Gold Royalties Inc. story or did not act on my initial idea last year, this could prove to be a good entry point, in the low $0.20 range. Regardless, more royalty deals and property options are likely in the works, and therefore, we are aiming for another rerating of the company that could produce a double within the next 12 months."
	Gwen Preston, The Maven Letter (6/19/19) "Ely Gold Royalties Inc. is monetizing its assets while continuing to build out its robust royalty portfolio. Given the leverage that it offers on bullish precious metals markets, this is definitely a company we'll want to hold on to as those markets begin to hit their stride."
	Mickey Fulp, Mercenary Geologist (6/17/19) "The recent Sprott transaction will up Ely Gold Royalties Inc.'s working capital position to $3.6M in cash and tradable securities; that is an enviable number considering the ongoing bear market. With its large Western U.S. database, portfolio of over 70 properties, of which 50 are being explored by partners, and 33 deeded royalties with three currently producing, I opine that the company is well-positioned both now and in the future when commodity prices and the junior resource market recover."
	Gwen Preston, The Maven Letter (6/12/19) "Ely Gold Royalties Inc. has sold one of its royalties on Wallbridge Mining's Fenelon mine property in Quebec. The buyer? Eric Sprott, who has agreed to pay CA$1.67M for the 1% net smelter return royalty; the company will retain a 2% royalty on the mine."
Gwen Preston, The Maven Letter (5/8/19) "Ely Gold Royalties Inc. has officially added the 0.75% gross receipts royalty it previously announced with Gold Resource Corp. on the Isabella Pearl project in Nevada. The addition gives Ely its first producing royalty and brings its total property sales to Gold Resource since 2016 to $1.5M."
	Thibaut Lepouttre, Caesars Report (5/1/19) "Ely Gold Royalties Inc. has entered into a binding agreement with a third party to acquire a 1% net smelter return royalty on the Lincoln Hill property for $750K in cash. . .considering the average grade at Lincoln Hill is higher than the grade of its adjacent Rochester mine, we would expect Coeur to be very interested in bringing Lincoln Hill into production as fast as possible, in which case Ely's NSR royalty could start to bring in cash."
	Gwen Preston, The Maven Letter (4/24/19) "Ely Gold Royalties Inc. has added two nice royalties to its portfolio in the last week. The first is a 2% net smelter return (NSR) royalty on the Fenelon mine property in west-central Quebec. . .that was good news, but I would say the company bested itself with today's announcement: it bought a 1% NSR royalty on the Lincoln Hill property."
	Greg McCoach, The Mining Speculator (3/13/19) "All in all, Ely Gold Royalties Inc.'s value proposition just gets stronger and stronger as time goes on, and I can't help but think that at some point we are going to see a swift revaluation to a higher level, particularly with higher gold prices and the funds that would show interest in buying the company. . .now we are starting to see a wider group of investors beginning to take notice of what Ely is doing and has already accomplished."
	Mickey Fulp, Mercenary Geologist (2/26/19) "Ely Gold Royalties Inc. is quickly transitioning into the junior royalty space but remains significantly undervalued with respect to its peers. With a recent 52-week high at a double from the low, we are starting to see the predicted rerating from a project generator to an emerging royalty company."
	Greg McCoach, The Mining Speculator (2/22/19) "Ely Gold Royalties Inc. continues to creep higher and is currently trading around CA$0.18; the recent financing with Rick Rule is bringing a lot more investors to the story. I believe this move is for real and will continue as the value proposition for the company is solid and getting better every day."
	Jay Taylor, Gold, Energy & Tech Stocks (2/8/19) "Not only does Ely Gold Royalties Inc. have 77 Nevada properties in play, but it is already enjoying one royalty and expects a second royalty to start kicking in by June of this year. Without any other revenues, these two properties are expected to generate $1.25M this year. . .but that's chump change compared to what I expect this company will earn, as it has royalties on several advanced-stage projects in the hands of solid companies."
	Gwen Preston, The Maven Letter (1/23/19) "Ely Gold Royalties Inc.'s U.S. arm, Nevada Select, agreed to sell the War Eagle project in Idaho to Integra Resources. Under the terms of the deal, Ely will retain a 1% net smelter royalty in the project, and Integra will pay Nevada Select $200K over a four-year period in exchange for its rights to the state of Idaho mineral lease that encompasses War Eagle."
	Greg McCoach, The Mining Speculator (1/22/19) "Based on timing, it appears Ely Gold Royalties Inc.'s share price is poised for a good run as monies from previous royalty deals are starting to flow in. With this much deal flow moving forward, it's hard to see how the company share price doesn't start to attract more attention, especially as gold prices and the market condition improve. . .Ely Gold is a Buy."
	Gwen Preston, Resource Maven (12/12/18) "Ely Gold Royalties Inc. continues to make deals and to build up a portfolio of property payments and advance royalties. These assets should make the company a great lever on gold if prices start to head up again, as I expect them to in the new year."
Gwen Preston, Resource Maven (11/7/18) "Ely Gold Royalties Inc. is selling its Gold Rock extension claim in Nevada to Fiore Gold for $10,277. . .the move is a great example of the company's business model, using its Nevada expertise to secure assets that others want but cannot get."
Gwen Preston, Resource Maven (10/31/18) "Via its U.S. subsidiary, Ely Gold Royalties Inc. has added three new properties to its already large portfolio; with the additions, the company has over 77 projects in play or optioned. The new additions include a property in Nevada and two in Idaho."
	Mickey Fulp, Mercenary Geologist (10/26/18) "At this juncture, Ely Gold Royalties Ltd. has 77 properties with 51 currently undergoing exploration by partners: 27 properties with deeded royalties and 24 under option. . .over the past nine months, the company has significantly grown its royalty and property portfolios. It now owns royalties from two small gold mines that will produce ounces and income in 2019."
	Gwen Preston, Resource Maven (10/24/18) "Ely Gold Royalties Inc. has made a couple moves of note recently. The latest was the announcement of an acquisition of a 0.75% gross receipts royalty on the Isabella Pearl property. . .last week, the company acquired 1% of the net smelter royalty held by Balmoral Resources in the Wallbridge Mining Fenelon mine in Quebec."

Experts Following This Company

	Mickey Fulp, Writer – Mercenary Geologist
	Maurice Jackson, Founder – Proven and Probable
	Thibaut Lepouttre, Editor – Caesars Report
	Gwen Preston, Founder – Resource Maven
	Mark Reichman, Managing Director, Senior Analyst - MLP – Noble Capital Markets
	Jay Taylor, Author – Gold, Energy & Tech Stocks

The information provided above is from analysts, newsletters, the company and other contributors.

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