Ely Gold Royalties (TSXV: ELY) just hit a new all-time high of $1.02 per share for a gain of 240% from NIA's initial suggestion price of $0.30 per share!
NIA believes Coral Gold (TSXV: CLH) will become the next major gold royalty play. With gold surpassing $1,600 per oz yesterday, CLH's sliding scale royalty in the Robertson gold project owned by Barrick/Newmont's joint venture company Nevada Gold Mines has just increased in value from 1.5% up to 1.75%. This means CLH's royalty is now worth 16.67% more than it was a few days ago! A repricing for CLH could be imminent!
Last week, Barrick Gold issued a press release entitled, "Barrick grows and improves reserve and resource base in a year of change". Click here to read this press release and pay particular attention to the second paragraph. The second paragraph begins by saying, "Global attributable mineral resources also increased net of depletion with significant inferred mineral resource additions at Robertson and Fourmile in the Cortez district of Nevada, moving these new projects up the resource triangle. Goldrush, Robertson and Pueblo Viejo contain significant indicated and inferred mineral resources not currently in reserves and are the three growth projects from which further reserve growth can be expected in the near future upon completion of feasibility studies."
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 was previously compensated by ELY USD$30,000 cash for a six-month marketing contract which has since expired. 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.