© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Ely Gold Announces Sale of Isabella Property to Gold Resource Corporation
Posted 11th January 2017

Ely Gold Announces Sale of Isabella Property to Gold Resource Corporation

Ely Gold & Minerals Inc.is pleased to announce its wholly-owned subsidiary, Nevada Select Royalty, Inc. has executed a purchase agreement for the sale of its 100% owned Isabella property located in Mineral County, Nevada to Walker Lane Minerals Corporation, a wholly owned subsidiary of Gold Resource

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Ely Gold Announces Sale of Isabella Property to Gold Resource Corporation
Image



Ely Gold & Minerals Inc. is pleased to announce its wholly-owned subsidiary, Nevada Select Royalty, Inc. has executed a purchase agreement for the sale of its 100% owned Isabella property located in Mineral County, Nevada to Walker Lane Minerals Corporation, a wholly owned subsidiary of Gold Resource Corporation for US$460,000.

Nevada Select will retain a net smelter royalty of 2.5% on the property. The claims, which were acquired by Nevada Select through staking in September 2016, will consolidate and eliminate many mine claim gaps along Gold Resource’s Isabella Pearl mineralized trend. Closing of the Agreement has received Securities Exchange Commission approval and is expected early this week.

Terms of the Agreement include:

a total sale price of US$460,000 to be paid, at Closing, as follows:
–  US$100,000 cash;
–  US$60,000 cash as a one-time advance royalty payment;
–  US$300,000 in Gold Resource restricted common stock, which equated to 59,642 shares issued at the closing price on January 6, 2017 of $5.03 per share;
Nevada Select will retain a 2.5% NSR on 153 unpatented mining claims;
Gold Resource will receive Isabella property deeds at Closing, and will own 100% of all 153 claims.
Terms of the NSR retained by Nevada Select include:

A 2.5% NSR on 153 unpatented claims;
Gold Resource has the option to buy-down 0.5% of the NSR for US$500,000;
The NSR will include a 2-mile area of interest (“AOI”) on claims not already held by Gold Resource in their Isabella Pearl property package;
The AOI royalty will be 2% and Gold Resource can buy-down 1% for US$1,000,000.
The Isabella property covers an area of approximately 2700 acres consisting of 153 unpatented mining claims in central Nevada’s Walker Lane Mineral Belt. The claims are all contiguous to Gold Resource’s 341 Isabella Pearl claims which they acquired in August of 2016 from an unrelated party. Gold Resource has retained several engineering firms out of Reno Nevada for additional engineering work, and is finalizing the Company’s in-house mine scheduling/capital expenditure requirement estimates for the project and the resubmittal of the Environmental Assessment (EA) to the BLM for a mining operations permit at Isabella Pearl.

Trey Wasser, President and CEO of Ely Gold stated, “We are extremely pleased to complete our second transaction with Gold Resource and we hope to continue this partnership as they expand their Nevada operations. The Isabella claims were staked in September 2016 by Nevada Select. This transaction allows Gold Resource to consolidate properties along a very exciting mineralized trend in Nevada. The Isabella property adds an extremely valuable asset to our royalty portfolio”

About Ely Gold

Ely Gold is focused on developing recurring cash flow streams through the acquisition, consolidation, enhancement, and resale of highly prospective, un-encumbered North American precious metals properties. Ely’s property development efforts maximize each property’s potential for acquisition, while reserving significant royalty interests.  Additional information about Ely Gold is available at the Company’s website, at  www.elygoldinc.com

Categories: Finance, M&A, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Data Analytics and AI Are Expected to Be the Top Technologies Driving the Growth of Fintech, Finds Mastercard Study
Finance
14/10/2022Data Analytics and AI Are Expected to Be the Top Technologies Driving the Growth of Fintech, Finds Mastercard Study

Data analytics and artificial intelligence (AI) are the top technologies of the Fourth Industrial Revolution that are powering fintech solutions, found a Mastercard study on the state of fintech in the Middle East and Turkey markets*.

Read Full PostRead - Eye Icon
Who Is the Best EDI Service?
News
25/04/2025Who Is the Best EDI Service?

Small businesses often need electronic data interchange (EDI) services to better communicate with their clients. For example, a B2B business might send and receive purchase orders and invoices. An EDI utilises a standard format and prompts the user to fill in

Read Full PostRead - Eye Icon
Proven Pedal Power!
Strategy
14/10/2021Proven Pedal Power!

As the world looks for green solutions, local governments around the world have been investigating ways of making their communities more environmentally friendly. PBSC Urban Solutions is a Canadian innovation that has grown into an astonishing success which le

Read Full PostRead - Eye Icon
The AI Revolution: How Artificial Intelligence is Transforming Web Design Agencies
News
09/05/2023The AI Revolution: How Artificial Intelligence is Transforming Web Design Agencies

Artificial Intelligence (AI) has become an integral part of our lives, transforming industries and paving the way for new opportunities in various sectors. One such industry that has experienced significant changes is the web design industry.

Read Full PostRead - Eye Icon
How to Prepare Your Business for Expansion: A Quick Guide
News
03/02/2023How to Prepare Your Business for Expansion: A Quick Guide

There’s no doubt that starting a new business can be very rewarding, but there are also challenges that come with it. Making sure that your business is thriving and taking the next steps will be vital to your success.

Read Full PostRead - Eye Icon
KPS Capital Partners to Sell WWRD to Fiskars Corporation
Finance
11/05/2015KPS Capital Partners to Sell WWRD to Fiskars Corporation

KPS Capital Partners, LP announced that it signed a definitive agreement, through an affiliate, to sell its portfolio company, WWRD Holdings Limited to Fiskars Corporation.

Read Full PostRead - Eye Icon
Gen Z Is Coming: How Luxury Brands Can Survive and Thrive With the Next Generation 
News
20/07/2022Gen Z Is Coming: How Luxury Brands Can Survive and Thrive With the Next Generation 

Younger generations are continuing to encroach on the luxury market, and for brands it is important they get their share. Set to make up 50% of the whole market by 2025, Gen Zs and Millennials are fast becoming key stakeholders in the industry. For luxury bran

Read Full PostRead - Eye Icon
Structuring your Business for Exit
Legal
28/10/2015Structuring your Business for Exit

Founded in 1980, BAE, KIM & LEE LLC is one of the oldest law firms in Korea.

Read Full PostRead - Eye Icon
Finance Options for Your Swiss Property Purchase
Finance
30/06/2023Finance Options for Your Swiss Property Purchase

One might not immediately consider Switzerland when thinking about lucrative international property investments, yet this gem of a country offers a thriving hotel market that can deliver impressive returns.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow