Solitario Exploration & Royalty (SLR.TO, XPL) and Ely Gold (ELY.V) have announced they have both sold their respective interests in the Mt Hamilton project to a fund managed by Waterton. The total purchase price is $30M split up in $24M for Solitario and $6M for Ely Gold, and this seems to be a relatively fair price for the asset at this point in time.
Solitario could use the cash to look for new projects, and once the Mt Hamilton project will be sold, Solitario might be seen by the market as a zinc-play as it still owns a carried interest in the Bongara zinc project in Peru.
> Click here to go to Solitario’s website
Disclosure: The author holds no position in either Solitario or Ely Gold. Please see our disclaimer for current positions.
