trending Market Intelligence /marketintelligence/en/news-insights/trending/o_9sew-axy_8wa3n1p_mfg2 content esgSubNav
In This List

Balmoral to sell Fenelon gold-copper mine royalty to Ely Gold

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Balmoral to sell Fenelon gold-copper mine royalty to Ely Gold

Balmoral Resources Ltd. entered into an agreement to sell the 1% net smelter returns royalty on the Fenelon gold-copper mine in Quebec to Ely Gold Royalties Inc.

Under the terms, Balmoral will receive a cash payment of C$500,000, 1 million shares and 1 million share purchase warrants of Ely Gold.

The company said Oct. 10 that the transaction will provide additional cash as it exceeds the currently estimated value of the royalty.

Balmoral will keep its exposure to Fenelon through its share ownership in Wallbridge Mining Co. Ltd., the current holder and operator of the mine.

Additionally, the company will gain exposure to the portfolio of mainly Nevada-focused gold royalty and property interests held by Ely Gold.