Garibaldi is a Junior nickel miner. Let's hope the analogy of Sprott's investment in UEX yields similar results. Some quotes from the article:
For a billionaire such as Sprott, there are plenty of opportunities on the TSX Venture — where the average financing is $3.9 million — to change a company’s profile with a multimillion-dollar investment.
In February, the TSX Venture Exchange ranked Garibaldi as its No. 1 performing stock in 2017: The stock experienced a 1,751 per cent price increase to $2.46, a 2,351 per cent increase in market capitalization to $238 million and a trading volume above 150 million.
Sprott has invested heavily in at least two other mining companies on the list, Metallis Resources Inc. and Novo Resources Corp., whose stocks increased 750 and 361 per cent, respectively, last year.
“Part of what comes with a guy like Eric Sprott is when Eric Sprott says he’s done his due diligence and is investing in a company, it’s a way for retail Canada … to follow that thought leader,” Fletcher said ( managing director of the TSX Venture Exchange).
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.