VANCOUVER (miningweekly.com) – Junior gold streamer Ely Gold & Minerals has agreed to buy certain royalty interests from Till Capital subsidiaries Golden Predator US Holdings and Resource Re for $75 000.
The transaction will give Ely subsidiary Nevada Select Royalty a 2% net smelter return (NSR) royalty on Resource Re’s Uduk Lake project, in British Columbia; a 3% NSR royalty on Golden Predator's Atlanta project; a 3% gross production royalty (GPR) on its Bolo project and a 0.5% GPR interest on the Wood property.
Nevada Select currently holds 100% of the claims covered by the Mina Gold royalty, while Golden Predator has agreed to cancel the Mina Gold 2% NSR royalty. The termination of the Golden Predator royalty will leave the Mina Gold property royalty free, except for a 0.5% NSR royalty on four of the unpatented claims.
"This transaction strengthens our growing royalty portfolio in Nevada. More importantly, it completes the consolidation of our Mina Gold property, making it one of our most valuable assets. This transaction will allow us to sell or option Mina Gold while retaining a significant royalty interest. We believe that the royalties in this agreement include some excellent exploration properties that are owned by important emerging junior gold companies,” stated Ely president and CEO Trey Wasser.