Columbus Gold (CGT.V) has entered into an agreement with Ely Gold (ELY.V) to acquire the royalty on its Bolo/Wood exploration project in Nevada, USA. Ely acquired the royalty in a transaction with Till Capital, and obviously does have some value for Columbus Gold considering it still is the owner of the Bolo property after purchasing it from Cordex Exploration.
Columbus is settling the acquisition by offering Ely Gold its Weepah exploration project, in Nevada as well. This deal seems to be a win-win proposition as Columbus Gold reduces the royalty risk on Bolo, and doesn’t have to pay anything in cash.
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The author has a long position in Columbus Gold. Columbus is a sponsor of the website. Please read the disclaimer
