Ely Gold Royalties Inc (OTCMKTS: ELYGF) has reported gross revenue of CAN$4.1 Million for the financial year 2020.
Fiscal Highpoints for the year ending December 31, 2020
- The company had a cash balance of CAN$7,381,784 in the current financial year. Its cash balance in the previous year was CAN$2,973,520;
- Its Working capital was CAN$7,810,155 compared to working capital of CAN$2,948,823 for FY 2019;
- Its Income was CAN$3,349,450 compared to income of CAN$2,082,830 for FY 2019;
- Its total Gross proceeds from optioned properties and royalty assets of CAN$4,122,966 compared to CAN$3,155,110 for FY 2019; and
- Stockholders’ equity up 470% to $41,042,723 compared to $8,723,557 for FY 2019.
Bankrolling Actions
- 21,562,500 shares distributed through a brokered private engagement for net incomes of CAN$16,450,990;
- 24,634,957 shares allotted on exercise of securities for total proceeds of CAN$6,857,638; and
- 1,675,000 shares issued on exercise of employee options for total proceeds of $384,000.
Purchases made by the company in the financial year
During the year, the company completed several purchases, but the most important were:
VEK Associates by disbursing $5,000,000 and the issuance of securities. VEK owns interests in the following tenancies with payments:
- REN 1.5% NSR;
- Marigold .75% NSR;
- Lone Tree 1.5% NSR;
- Carlin Mine 1.5% NSR; and
- Getchell 1.5% NSR.
- Jerritt Canyon 0.5% NSR for $11,553,163 in stocks and securities;
- Mineral Interests and .44% NSR at Railroad-Pinon for $1,365,000 cash and securities;
- Rawhide 15% NPI for $800,000 and securities;
Possessions Transactions
In FY 2020, Ely Gold sold twelve schemes to third parties tallying to its payment generation collection, which now equals 29 properties. All schemes were traded under a four-year option agreement and will produce NSR fees if exercised. They comprise the Tonopah West Project sold to Blackrock Silver and the Weepah & Spanish Moon Projects sold to Eminent Gold.
Trey Wasser, President and CEO of Ely Gold, remarked, “2020 was a decisive year, on all frontages for Ely Gold. In a perplexing setting, we added considerable shareholder value by snowballing possessions, incomes & property auctions. Our sustained focus on gold possessions in North America is demonstrating to be a concrete strategy for forthcoming growth for Ely Gold Stockholders.”
