Giga Metals Corp (GIGGF)

[ThSeeker]

Latest GIL comments on Giga



GIGA/Nickel

???????The nickel sub index weekly chart below puts the current nickel retrace into perspective. Nickel almost doubled since the beginning of 2019 to recent highs in the mid $8's per pound so this current breather is normal and healthy. LME stocks are down to under 70,000 tonnes, less than 3 weeks of supply! What happens when we're at 3 days left? At the current pace of decline, we could be there within several weeks-months, not years. Nickel remains a favorite metal of mine and the pullback has created a buying opportunity in our favorite junior explorer.



Giga Metals (GIGA/HNCKF) bounced like clockwork yesterday off of its 50 day moving average at .40 CDN. Remember the recent research report by FRC that said fair value for Giga is $1.01 CDN? Well that's with nickel at $7, which is where it is now. Last week GIGA hit a new high at 53 cents, now we can buy it 20% cheaper and the selling volume has been modest at best.



GIL readers who missed the initial big pop may want to consider accumulating GIGA during this nickel retrace. Higher highs and higher lows has been occurring since may when the stock hit its low of 15 cents. The uptrend remains intact. I see Giga as a potential multi bagger from here in 2020.