Garibaldi TSXV:GGI Recent Price $2.33 Entry Price $0.21 Opinion - buy I believe Garibaldi received the TSXV stock of the year award for 2017, and the stock performance was most convincing. The stock was on the Selection list and I put my first alert out on GGI in late July 2017 when it hit 26 cents. I did further updates in late August and September as the stock kept on climbing. We took part profits higher and then on November 24th I suggested to buy again at $2.25, but the stock never came back to that but was back over $4,00 in December, but dropping back down to about $2.25 at year end. At the luncheon I was fortunate to sit across from their geophysics expert and Dr. Peter Lightfoot. They gave me a very good explanation of their geological interpretations and plans for the next exploration round. So far
drilling has come across very high grade sulphides but these zones or pods are not very big. Most likely they are the results of larger feeder zones below and the Garibaldi team has some good analysis where to find them. This next drill program will be very interesting and if they don't hit something bigger, certainly the data will give them more indication on the system controls. This graphic from their web site helps explain the concept model. Drill intersects so far are in the tiny red area. Using inversion analysis for the aeromagnetics, outcrop maps, diamond drilling and trenching information, a model has been created of the E&L as an irregular lobate body with chambers and bulges connected by conduit dykes and pipes. Mineralized zones encountered through historic drilling occur at the southern margin of the largest chamber, up-plunge of an interpreted pipe connecting to the “Q” magnetic anomaly area to the south.
Geophysics was a very good tool guiding Garibaldi to success in 2017. They have started their next VTEM and magnetic surveys at Nickle Mountain covering up to 1,650 line kilometers, nearly triple the size of last years program. If some new anomalies or ones relating to 2017 drill results show up, the stock could see a nice move. The chart looks good and is back around the $2.25 area I like. On the chart there is very good support around the $2.00 area that has been tested 4 times. It looks like the stock might be breaking above the top of the down trend line. A strategy might be to buy half your intended position now and buy the other half on a move back closer to $2.05 or after a solid break out. To me that would be a close of $2.75 or better (higher high).