Movers and SHAKERS
Garibaldi Resources Corp (GGIFF)(GGI:CA)
Garibaldi Resumes Drilling at E&L Following Completion of Geophysical Surveys
Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company's projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
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Drilling resumes at E&L. The 2021 drilling program will resume at the E&L project at Nickel Mountain. Garibaldi’s preliminary ZTEM geophysical survey detected several conductors that are being ranked for field work and drill testing. Five conductors occur along the 15-kilometer strike-length between E&L in the southwest and the nickel copper outcrops identified at Mount Shirley to the northeast which offer new discovery potential. Later in the season, the drill could be moved to test gold-silver targets at Casper and Palm Springs.
Financing enhances flexibility. Garibaldi secured up to C$12 million of equity financing over three years via a draw down equity financing facility. The agreement is structured to provide access to equity private placement tranches of up to C$500,000 each. Each tranche will be a private placement of units consisting of one Garibaldi common share and one-half a common share purchase warrant valid ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.