GGI GGIFF From Gold Investment Letter
This is why I haven't given up on Garibaldi Resources (GGI/GGIFF)! The reason is because this E&L intrusion at Nickel Mountain is a monster, and it will need time to determine how large and rich it actually is. They are tapping into 10 different minerals in this ore body in various areas, and grades are off the charts for nickel/copper! And also quite meaningful in the gold and PGM areas as well. These "toppings" of rhodium, palladium, etc will greatly enhance production economics, on top of already top 5% nickel grades globally, when that day comes for a larger company that ends up taking this into production.
I plan to speak to Steve Regocci CEO in the coming weeks. On the ground, the technical team seems to be doing a solid job chasing this complex system down. Regarding the face of the company to the public, I give them a D-. As far as other deals that could have been done last year to maximize the share price, execution has been questionable. GGI should be a $2-3 stock in the off season, not trading under $1!
For now though, kudos on these last 9 holes from the 2019 drill season....very encouraging indeed! Late January bottom is likely in and we'll test the $1.20 area next (22 dma).
Garibaldi Drills 9.3 Meters Grading 7.2% Nickel, 3.6% Copper and 4.8 G/t Palladium-Platinum-Gold as Lower Discovery Zone Expands and Thickens to the North
