Garibaldi Resources Corp V.GGI

Alternate Symbol(s): GGIFF

Metals & Mining Industrial Metals & Minerals

Garibaldi Resources Corp. is a Canada-based junior exploration company. The Company is focused on creating shareholder value through discovery and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico. Its E&L Nickel Mountain nickel-copper-rich massive sulfide discovery, approximately 18 (km) southwest of the famous Eskay Creek mine, contains some of the highest nickel grades recorded in magmatic sulfide ore deposits on a global basis. The Company's projects in Canada include Otter Creek, Palm Springs Property (PSP), Red Lion, and King. The Otter Creek lode gold prospect consists of 8,704 total hectares and is located 12 kms east of Atlin in northwest British Columbia. Its projects in Mexico include La Patilla, Rodadero, Tonichi, and Iris. The Company owns a 100% interest in the La Patilla property located in Sinaloa State, Mexico. The Company owns a 100% interest in the Iris property located in Chihuahua State, Mexico.

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Garibaldi Resources Corp

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Post by Jentaion Nov 08, 2017 6:08pm

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Post# 26928931

My last two bits.

With over forty years of investing in jrs, I have gained significant experience over that period , some bad, some good, some vey bad. With GGI, it has been pure luck. It is one of the few stocks, I have been keeping for over ten years and did not sell. With over 500k shares in my possession, the ride in the past three months has been very exciting and rewarding to say the least. Unfortunately, all these shares were in my RRSP not my TFSA. Along the way, I sold some at $0.65 ( bad mistake in retrospective) and some more at $2.00 ( got all my initial investment back). This morning after a long reflexion and after talking to a very good friend who is a well known investment writer, I sold 75,000 shares at $4.30 and $4.34. I am still holding 275k shares that I Intend to ride to the end.

Why I sold this morning?

Delays in releasing assays are not usually a good sign.
The motto buy on rumours, sell on news still apply
Unless the assays are out of this world, we will see a regression in the value of our shares. According to my friend, the fact is the good news are already factored in the value of the shares.
The number of shares being shorted are at a record high.
According to my friend and I did not know that one, holders of PP, in spite of a four months holdback, can use their shares to short the stock, making in fact money on the way down...and buy back on the way up ( not very ethical but legal - this one scares me).
On the very positive side...I sold in two blocks this morning, 50k and 25k, possibly the two largest blocks in the market this morning and both were gone in seconds after posting. Some deep pockets here.
I do not blame the younger crowd for holding on, but it is always smart to take some money off the table. Personally, I will sleep better tonight...and I am still long with my 275k remaining shares. After all, I am well passed the retirement age and a little more adverse to risk compared to my younger wildcat days. ( for your Information, English is not my mother tongue and my writing skill is far from being shakespearian. Best of luck, to the longs