The U.S. chart of Ely Gold Royalties (ELYGF) is setup perfectly. ELYGF gained by 12.31% on Tuesday to $0.292 per share on strong volume of 258,675 that was 2.6X above average. ELYGF rallied into the close just like we predicted and finished at its high of day!
ELYGF's Tuesday closing price was its highest since August 12th and its volume was its highest since August 23rd!
ELYGF successfully broke out from its symmetrical triangle pattern that formed over the last three months! It is extremely significant that this breakout occurred on strong volume! ELYGF's strong volume indicates that this is a real breakout and we know it is being supported by real fundamental factors!
Much more HUGE news will likely be coming from ELYGF's Wallbridge Mining (TSX: WM) in the days/weeks ahead. In addition to WM's drill hole FA-19-086 intercepting 27.00 g/t gold over 38.39 metres for 1,036.53 grammeters of gold, WM said that they are, "keenly awaiting further assay results of surrounding batches from this hole which, based on the mineral assemblages described, should carry some additional gold mineralization." Meaning, WM has only received back the assay results for that 38.39m batch of gold, but there were additional batches of gold from this same drill hole that will cause its total grammeters of gold to rise even higher.
More importantly, WM has already drilled two additional drill holes within 100m to 150m from FA-19-086 and these two drill holes also returned mineralized intersections of significant width with visible gold! If their assay results are also strong it is impossible to predict how high ELYGF will rise in the upcoming weeks!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from ELY of USD$30,000 cash for a six-month marketing contract. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.